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Why the new CPF income ceiling will benefit more workers
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The change will not affect workers who earn less than $6,000 as their amount of contribution depends on their actual salaries.
PHOTO: ST FILE
There were a lot of instant giveaways in Budget 2023, but a measure concerning Central Provident Fund (CPF) contributions that will have far-reaching benefits may not be obvious to many workers.
The changes are well-timed as CPF is likely in the minds of many people now, since February is usually when we might notice a bump in our CPF accounts from an extra dollop of contributions.
