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Singapore |
Hong Kong |
Malaysia |
Australia |
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Choice |
Mandatory |
Mandatory |
Mandatory |
Voluntary |
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Fund Name |
Central Provident Fund (CPF) |
Mandatory Provident Fund (MPF) |
Employees Provident Fund (EPF) |
MySuper |
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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. 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. 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. |