CDAC, Sinda and Eurasian Association raise monthly contribution rates for working adults
Published on Aug 30, 2014 3:14 PM
SINGAPORE - Working Chinese, Indians and Eurasians have been asked to donate more to the community, after three ethnic self-help groups on Saturday announced that they will raise the monthly contribution rates starting next January.
High-income earners face the largest increases - for instance, contribution rates for Indian employees earning more than $15,000 go up to $30 a month, up from $7 now.
The Chinese Development Assistance Council (CDAC), Singapore Indian Association (Sinda) and Eurasian Association said that rates had to be increased to sustain their operations amid rising costs, and to fund new programmes.
Malay self-help group Mendaki has no plans to change its rates next year.
The latest changes in rates are a first for the CDAC fund, set up in 1992, and the Eurasian Community Fund, set up in 1995.
Contributions are deducted automatically from workers' monthly salaries but employees can opt out or increase their contributions.