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Singapore

Hong Kong

Malaysia

Australia

Choice

Mandatory

Mandatory

Mandatory

Voluntary

Fund Name

Central Provident Fund (CPF)

Mandatory Provident Fund (MPF)

Employees Provident Fund (EPF)

MySuper

Total CPF

OA, SA, MA

Special Account (Retirement)

Retirement

Total EPF

Account I & II

Account I (Retirement)

Retirement

Employer Contribution

Percentage contribution is age and income dependent and capped at a salary ceiling of S$5,000 per month.

For employees aged 50 and below with a monthly wage of S$50 and above, 16% of salary. 

 

Reduced contribution rates for older employees.

Below 55 years old, contribution rates range from 6% to 9.5%.

 

Above 55 years old, contribution rates range from 1% to 2%

5% of income up to HK$25,000, above HK$25,000 contribution is capped at HK$1,250

Percentage contribution is age and income dependent.

 

For employees age 55 years old and below with a monthly wage of RM$5,000 and less, 13% of income.  Monthly wage of RM$5,000 and more, 12% of income.

 

Between 55 to 75 years old, contribution rates range from 6% to 6.5%.

Below 55 years old, contribution rates range from 8.4% to 9.1%

 

Between 55 to 75 years old, contribution rates range from 4.2% to 4.55%

9.25% of income, gradually raised to 12%. In July 2014, the rate will increase to 9.5%. Thereafter, it will increase by 0.5% each year till it reaches 12% in July 2019.

 

Personal Contribution

Percentage contribution is age and income dependent and capped at a salary ceiling of S$5,000 per month.

For employees aged 50 and below with a monthly wage of S$750 and above, 20% of salary. 

 

Reduced contribution rates for older employees.

5% of income up to HK$25k. i.e. capped at HK$1,250

 

For employees below 55 years, 11% of income; and for employees between  55 and 75 years old, 5% of income.

 

 

Voluntary by employee. Tax reliefs given for contributions.

 

Interest Rates

2.5% to 5% depending on the account type.

 

OA: Pegged to savings rate of local banks, subject to floor of 2.5%.

SMRA: Pegged to 12-month average yield of 10-Year SGS plus 1%, subject to floor of 4%.

 

Extra 1% interest p.a. on first S$60,000 of combined balances, with up to S$20,000 from OA.

Pegged to 12-month average yield of 10-Year SGS plus 1%, subject to floor of 4%.

 

Extra 1% interest p.a. on first S$60,000 of combined balances, with up to S$20,000 from OA.

Dependent on the type of funds the employee invests in (About 4% net annualised returns for the period 1 Dec 2000 - 31 Mar 2014)

 

6.35% in 2013

Dependent on the type of funds the employee invests in (About 5% to 8% gross returns)

 

Payout Age & Mechanism

At 55 years old, the first S$5000 of the Ordinary and Special Accounts and amounts above the minimum sum can be withdrawn.  The memberŐs property can be pledged to reduce the minimum sum.

 

For those born after 1953, monthly payouts from CPF Life or the Minimum Sum Scheme will commence at 65 years old.

 

Source : http://mycpf.cpf.gov.sg/CPF/my-Cpf/reach-55/Reach55-2.htm 

 

Full withdrawal at 65 years old

Account II balances may be used for housing, education & medical. 

Account II savings may be withdrawn at 50 years old in full or partially.

At age 55,  savings from Accounts I and II may be withdrawn:

(a)    in lump sum; or

(b)   partially and/or monthly payments.

 

For those born after 1964, full withdrawal at 60 years old or a series of regular payments over a period of time.

 

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