03 Oct '11, 12am

The Singapore Govt is reviewing its CPF policies, especially for older workers: DPM Tharman Shanmugaratnam

The Singapore Govt is reviewing its CPF policies, especially for older workers: DPM Tharman Shanmugaratnam

Deputy Prime Minister Tharman Shanmugaratnam (above) said the Government is reviewing its policies on Central Provident Fund contribution rates, especially where older workers are concerned. -- ST PHOTO: KEVIN LIM By Cai Haoxiang The Government is reviewing its policies on Central Provident Fund (CPF) contribution rates, especially where older workers are concerned. Deputy Prime Minister Tharman Shanmugaratnam said the Government is also consulting unionists and employers to see how the review can be carried out. Unionists have been pushing for a review of the current practice under which employer CPF contribution rates are cut when a worker reaches the age of 50, and again at 55 and 60. Employee contribution rates are cut at age 50, 55, 60 and 65. While giving no further details, Mr Tharman says he sees 'some merit' in the unionists' position because more companies are do...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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