Singapore: Labour Regulation
Employers, employees and the self-employed are required to make contributions to the Central Provident Fund (CPF). Rates vary in accordance with the sector in which the employee works, the age of the employee, and whether a Singapore permanent resident (SPR) has been resident in Singapore for one or two years.
For example, an SPR employed in the private sector aged between 36 and 45 in his or her second year of residence in Singapore contributes 15% of his or her wage. The employer contributes 9%.
The overall scope and benefits of the CPF encompass retirement, healthcare, home ownership, family protection and asset enhancement. Full details can be found on the Central Provident Fund Board website.