KiasuParents - Parenting in Singapore

CPF for older worker triggers at 50,but will it be when you turn 50 or when you complete 50.

My question is , for 1962 born who turns 50 this year, will reduction take place thie year or next year in 2011?

You loseout @ 300 dollars out of 675 that Employer puts & if you are paying mortage from it, you have to come out with Cash!


And one final question, should you negotiate with employer to give that cash back if you are continuing to work in same capacity (even harder!)

I think is when you turn 50, not complete 50, the rate kicks in.

And I don't think employer will give cash if negotiate because they have to account this payout in their accounting books. If according to what you said work harder in capacity, perhaps the company may channel this into yr end bonus.

caroline3sg wrote:I think is when you turn 50, not complete 50, the rate kicks in.

And I don't think employer will give cash if negotiate because they have to account this payout in their accounting books. If according to what you said work harder in capacity, perhaps the company may channel this into yr end bonus.

Thank you. Cash ... what i mean was increase monthly salary.

I think it depends on company ba. My company pay additional 14.5% to people on EP because they do not have CPF account.

most companies don't since they are not required to do so.

I do heard of a european MNC that gave back in form of pay rise when the govnt last cut the employer's CPF contribution.