Taxability of MPF contributions

The MPF System Members of the program are not taxed on the amount received from mandated contributions when they withdraw their MPF.

Do MPF contributions incur taxes?

A: The necessary contributions an employee makes to an MPF scheme are tax deductible under the Salaries Tax. The Inland Revenue Ordinance's required amount should not be exceeded by the maximum deductible amount.

Can I make my own EPF contributions?

Not at all. Can I contribute on my own even though I'm not a member? No, you have to sign up for EPF membership first before making self contributions.

Who must make an MPF contribution?

Subject to the minimum and maximum relevant income levels, 5% of the employee's relevant income must be contributed by both the employee and the employer to the employee's MPF account. Employers are required to use their own money to make required contributions for their employees.

What should my MPF contribution be?

Any contributions to the MPF plan that are greater than 5% of your salary are considered voluntary and are not tax deductible. There is no mandatory contribution for ROR plans. Therefore, you are free to choose to contribute anything between 0% and 10% of your monthly pay.

Is making CPF contributions required?

Your employer is required to make CPF contributions on your behalf if you are a Singaporean citizen or a permanent resident with total monthly earnings of more than $50. A worker may work full-time, part-time, temporarily, contractually, or casually. Some workers are not required to make CPF contributions.

The minimal EPF contribution is what?

To contribute to your EPF, you and your employer must send 10% or 12% of your base pay. However, for the first three years, women only have to contribute 8% of their basic salary. The 12% EPF payment made by your company will not change during this time.

Is making CPF contributions required?

Even if the contract is signed abroad, CPF contributions are due on wages paid to any Singaporean or Permanent Resident working in Singapore.

What should my EPF contribution be?

Your employer will add an additional 12% or 13% of your pay (the statutory contribution rate is subject to change by the government) to your EPF savings when you contribute 11% of your monthly salary to the EPF. However, you, your employer, or both of you may contribute more than what is required by law.