MPs fear CPF rate hike may affect seniors' jobs

[SINGAPORE] THE government's decision to raise the CPF employer contribution rates for older workers came under the microscope in Parliament yesterday as they debated the likely impact of such a move on businesses and these elderly employees.

Pritam Singh (Aljunied) of the opposition Workers' Party wondered if some of these seniors might end up losing their jobs as a result.

He spoke of how media reports of late had highlighted that greater CPF contributions would put a "tighter squeeze" on companies' profits, as well as the fact that it is small and medium-sized enterprises (SMEs) that typically hire more older workers.