CPF rates for older workers 'may go up'
Labour chief calls for parity with younger workers but it can be done progressively
Published on Feb 11, 2014 6:57 AM
Older Singaporean workers face the pleasant prospect of seeing a rise in their Central Provident Fund (CPF) contributions.
The labour movement yesterday called on the Government to raise the CPF rates of those aged above 50 to 55 so that they are on a par with younger workers.
But it need not be done "in one go", said labour chief Lim Swee Say, who is also Minister in the Prime Minister's Office.
Union leaders, he said, are not pushing for the 3.5 per cent gap to be closed "in one go, because we do understand it should be done progressively", he told reporters after an official visit to restaurant chain Eighteen Chefs.
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