With effect from 1 September 2011, the employers' CPF contribution rate has increased by 0.5%
from the current 15.5% to 16.0%. This affects all employees of Singapore Citizen and Singapore Permanent Residents.
Increase in CPF Salary Ceiling to $5,000
To keep pace with income growth in recent years, the CPF salary ceiling will be adjusted upwards from $4,500 to $5,000
1. The change applies to all age groups and will take effect from 1 September 2011.
All employees will benefit from the 0.5 percentage point increase in employer CPF contribution, while those earning more than $4,500 a month, estimated to be 390,000 members, will benefit from the increase in the CPF salary ceiling.
The last change in the CPF salary ceiling was in 2006, when it was lowered from $5,000 to $4,500.
if my calculation is correct
for those working in the Bank under EP, who get back their CPF from their employer, from S$697.50 now get back S$800 a month leh