Should employers' CPF contributions be increased following Singapore's strong economic data for Q1? Why?

Question

Singapore’s labour chief has urged employers to consider restoring their portion of the Central Provident Fund (CPF) contributions following a strong rebound of the Singapore economy.

Do you think employers' CPF contributions should be restored and what else can be done for employers?

Answer 1

Yes the employers' CPF contribution should be restored, as the employees has been supportive for the past few years. Since the economy has returned strongly, it's high time that the employees get back what originally belongs to them, the few percentage differences means significant to alot of people, especially those struggling to finance their homes.

Answer 2

Yes, it's time for employers to restore their portion of the CPF contributions but it can be implemented gradually by a reasonable increment in the Employer's CPF rate. However, I strongly recommend that the Employee's CPF portion should be reduced at the same time. This is due to the continuous hike in price in housing, transport, household expenses, electricity tariff etc etc., and the companies, the retailers and the relevant service providers will pass the cost to the end users and consumers. Therefore, I think people like the average earners should receive MORE HARD CASH from their TAKE HOME NET PAY so as to cope with the high living expenses nowadays.

Answer 3

Yes!! Yes!! Yes!! It is time for the employers to restore the PEOPLE’s cpf back. When times are bad it will be used as an excuse to reduce and we will get a pay cut/CPF immediately. Now when the economies are GOOD there are many excuses by the employer or gov to not restore our cpf or pay hike? The employees have been very supportive for the past few years. Cost cutting ,price increase overtime cut reduce of overhead more work load .Over the years the prices of food, housing, services and transportation goes up like nobody but not our pay/cpf. The workers don seems to gain anything. Who can the workers depend on when the need help ?the employee can always depend on the gov just becos they build SG economy but aren’t the workers playing their part too?

Answer 4

The better than expected rebound on our economy is inevitably a euphoric surprise for many and a cause for celebrations. However, let's not jump on the band wagon too soon as this is just a first starting point of good times ahead after a short spell of recession that affected most, if not all businesses. Like any ' bad ' times hit, no one can predict how long this 'good' times will be sustainable. To increase CPF contributions now and later retract it if hit by a bad patch will not be perceived well by all. We shall adopt a ' wait and see ' attitude at least till end of year before a decision can be made on it. Even then, the increase should be gradual with times and performance of the economy. It should gradually phased in similar to the way the Job Credit Scheme is being phased out. Employers in the meantime can reward employees in some other forms, like yearend or mid-year bonuses etc. The old tradition ' you must save for rainy days ' practised by our forefathers and parents will always hold some reality checks and truth so that when hit, you can fall back on this.

Thank you

Answer 5

This is not the right time to restore the employers' CPF contribution. The economy just recovered not too long ago. In fact many employers are still facing or dealing with the financial crisis backlash from 2009.



Look at the figures from both CPF and MOM on complains of unpaid or delayed payment by employers on both contribution and salary in 2009 and 2010 Q1 perhaps to understand how many businesses were struggling with paying employees.



By doing so now, will only encouraged a drastic cut in employment rate as many employers will just switch to foreign labours/talents and reduce local employment.



In fact, the labour chief should speak and understand better from employers and its associations before even making this recommendations in the public, giving hope to employees and stress to employer.



Like a marathon runner who have just recovered from a knee injury, it doesn't mean that he can jump back to competition immediately upon recovery...



The government seriously need to engage with local business and employer more to understand situations before making recommendations of such. At the end of the day, businesses/employers contributed to the employment rate of Singapore during good and bad times. This is no way to "reward" employers immediately when Q1 data is strong.

Answer 6

Yes, the employers' CPF contributions should be increase and restore back immediately once there are a strong rebound of the Singapore economy. The increased in the Singaporean' CPF will be a great relief for us to paid off those loan, etc as well as planning for the future.

Answer 7

With the worker's mindset:> Restoring the employer's portion of CPF contributions will be THUMBS UP! But there are many workers in a company (ratio of = >1 worker : 1 company), the restoration during the start of economy recovery may be a highway to "death" for the company. Or maybe another Retrenchment time for the company to cut overheads before the possibilities of winding up?

SO IS THIS WHAT ALL YOU GUYS WANT? Of course the worker's mindset would always be self-centered, however, may resulting to the lost of job...& thus DEFINITELY no CPF funds to pay the housing loan.



With the employer's mindset:> If only every workers will contribute good hard work with their good working attitude, then will the company business be good & prospering. It is the people working in the company that brings the company to good business & profits, NOT the company bringing business & profits for its people. Thus, when the company does well, employers will show appreciation in different ways like sponsored courses, salary increment, bonus, AWS...etc. Aren't all these are to the workers' benefits & rewards & advantages too?



Our good government had been balancing the act between employer & employees, thus had reduce the employer's CPF contribution during bad times. This is because the government is just like any employer, taking care & giving benefits to its people (employees). The slight reduction of the employer's portion also means a significant substantial reduction & aid to the company's monthly overheads. However, to 1 employee, the reduction could be just a dinner at some nice resturants or a pair of LEVI'S jeans. This doesn't mean...due to reduction of employer's CPF portion, you guys have not enough CPF fund to pay for housing..right? Just by using part of that salary increment or bonus to pay for your housing could just saved you from being retrenched & lost in your income.



So you guys.... STOP COMPLAINING & be understanding.... before you are in that Retrenchment List.

Answer 8

I agree with the labour chief that the employers' contribution to CPF should be restore especially since we the employee has been paying a high contribution to CPF even when times are bad.



Of course as an employee I am also aware that if this do happen there's a possibility that some employers' will take this opportunity to lower our salary. Hence it will be good if the govt can in place a policy to stop such act from the employers.



Then it will be good to restore the employers' contribution to CPF as it is fair to the employees too.

Answer 9

Absolutely NO! It may seemed a good time to Mr. Lim to do so but it is definitely NOT the right time. Good statistical figures that suggest a rebound from the recession don't mean that they are representative of some industries / companies. Many of them barely survived if not with the help of government's CPF rebate assistance during the bad times. How do you expect these companies to stay in business if CPF contribution is increased and now that the rebate has been cut back? Also, the recent strengthening of the Singapore dollars has made exporting very difficult for companies that rely on export. On the other hand, it will not be good for employees with CPF accounts too if companies are forced to replace them with "levied" foreign workers or if these companies close down or relocate to a less costly location.

Answer 10

The better than expected rebound on our economy is inevitably a euphoric surprise for many and a cause for celebrations. However, let's not jump on the band wagon too soon as this is just a first starting point of good times ahead after a short spell of recession that affected most, if not all businesses. Like any ' bad ' times hit, no one can predict how long this 'good' times will be sustainable. To increase CPF contributions now and later retract it if hit by a bad patch will not be perceived well by all. We shall adopt a ' wait and see ' attitude at least till end of year before a decision can be made on it. Even then, the increase should be gradual with times and performance of the economy. It should gradually phased in similar to the way the Job Credit Scheme is being phased out. Employers in the meantime can reward employees in some other forms, like yearend or mid-year bonuses etc. The old tradition ' you must save for rainy days ' practised by our forefathers and parents will always hold some reality checks and truth so that when hit, you can fall back on this.

Answer 11

Certainly Yes! Government should mandate this move instead of leaving the decision to the employers' discretion. In bad times and for many years, the employees have suffered and braced the storm with the companies in wage reduction and employer contributing lesser CPF. With the current climate of strong economy plus inflation, the government should acknowledge that people need to be compensated by the employers in any forms. Be it hard cash or reinstate 16% CPF contribution or more if possible. There are many low and medium income households in Singapore which depend very much on their CPF for home loans. This will definitely lighten their burden.

Answer 12

I wished to voice out as an employer.



During the down time from July 2008 to late last year, business was really very very bad. In my case, sales was reduced to just 20% to 30% compare to a year before due to the shortfall on demand. I didn't blame my staff for not performing as it is obvious it is due to external factor that causes the adverse situation. Back then, every month was a nightmare as every month, we were making huge losses.



Now that the market is picking up, while we are just trying to recoup the losses, increasing the employer's CPF portion immediately will be bad for some businesses like mine. Maybe increasing it gradually with a few months plan will be better. In this case, business owners can plan ahead for new recruitment so that the business don't over spend.



For me, I think when a business loses money, employees still get paid but lesser while the employer got to bear the losses. It is only fair that when the economy picks up, the increment should be gradual so that the employer can, not to earn big money, at least to recoup some losses....

Answer 13

No.



Economic growth, does not mean the the people on the ground level are earning more.



If you increase CPF contributions, it means that one would need to stretch his remaining pay (which is not changed). Sure, it helps to pay for the flat.

but that is not a valid reason at all.

If the CPF account does not have enough funds, one can top up with cash.



and with more implementations designed to "help us in our old and abandoned-by-children-age", we are unable to touch our CPF at 55 (at first) or is it... 62? 63? 77?

wait... I really don't remember...

gah whatever.

but basically, leaving more money in the CPF, means more money that you cannot touch (forced savings is good for some, but for those that need the money urgently are doomed to despair)



and by the time one is able to withdraw from his/her CPF, one is already almost incapacitated to spend it.

Sure that life expectancy may be increasing, but it does not indicate that our ability to use it increases as well.



The thing that I am most irritated about with regards to the government (in fact, all the governments of the world) is that policy makers are not the ones at the ground level experiencing the effects of their implementations, and most of the information they receive is from grapevine, and from statistics (which does not lie, but does not tell the whole story).



Sure, they listen to what we have to say....

sure the MPs help us as well...

but it still does not have a strong impact on the overall policies made.

Diplomacy? well.... yes and no. If you are an experienced enough Singaporean, make your own inference.

(and i also understand that complete diplomacy is lousy... there are great nations of diplomacy which are in hopeless peril because the people on the ground cannot see the big picture)



2 cents worth



With everybody aiming at the long term benifits etc etc, and proclaiming that YES! SHOULD BE RESTORED!



but i'm not sure, but i feel as if I am the only one noticing that our country's large growth is largely contributed to the sheer size of the country's population.



Sure there is growth.

but i'm not sure if the calculation of "growth per person" is done.



it means that there are more people paying taxes, more people generating income, economy moving blab la bla bla bla

but it STILL DOES NOT REFLECT THE WAGES OF THE GROUND PEOPLE!



want the employers to pay more? make sure that the company is earning more first.



statistics as i previously mentioned, only show a fact, but does not tell the story.

you cannot lump the whole country's economic status into a simple number.



apple is not a pear.

Answer 14

The CPF rates should be restore. What better time is it than now. No more excuse since the Government also didn't delay much when economic crisis step in and the CPF was cut promptly then. So restoration should follow same treatment to be fair to most Citizen! We need CPF for housing loans and misc. Think about us the people of Singapore.

Answer 15

Definitely, yes. I started working in year 1988 and I remembered the last time the CPF's contribution was cut to less than 20% was in year 2003. There were talks and no actions to bring back the former, that the empoyee's contribution back to the 20& but it have matarised so far. The percentage is still below 20%, 13% to 15%, correct me if I am reall "wrong".



CPF contributions is employees' hard-earned "blood" money, therefore I feel that it should be fully restored to the 20% and back-dates us fairly when the economy is weak. The standard cost of living here is increasing every year with inflation and the low bank rate.



Thank you.



Mr Koa Hean Hong

S1749696D

Answer 16

Singapore's economy has a recovered in a "V" shape with a bang and hope to remain resilient and strong like this for remaining part of the year. Singapore Dollar is also rallying against US$ and other asian currencies.



It is high time that employers should seriously think to restore CPF contributions for their employees in recognition for their hard work.



In turn government should offer some incentives for such employers who restore CPF contributions back to 20 % as in the past. This will encourage many companies to take this bold step and reward their employees.



Regards

Answer 17

Yes the employers' CPF contribution should be restored, as the employees has been supportive for the past few years.

Empolyers had also given much goodies to support them to pull through the difficult time.

Since the economy has returned strongly, with such a long period if the company are still very weak and able to recover properly they not working hard enough .

The increase in the CPF contribution means significant to alot of people the majorities who stay in HDB , which curently some flat that the prices had gone sky high .And the BTO flat for the young generation it may help to reduce the loan period.

Answer 18

Absolutely. Agree with most of the people here.

My ex-coy told all staff to have a pay cut in 2007 & then pay freeze in 2008.

We had no choice as the economy was bad then. Now that it’s better, time to do something about the CPF.



I was from the generation when the government introduced CPF reduction just when we were going into the workforce, had never seen a CPF increase since. An increase now will be good news.



However, I heard it’s going to increase 1% ?? Maybe can add more. eg 2% - 3% ??

Answer 19

if i am employer, i already,struggling to maintain the local employee and should the CPF be Increased, i think , i rather fire the local staff and employ cheap labour .



Some may say , well the local is well train . so what , it is the company survival more important to me . Most of the job so call need foreign telent are just excuses to hire cheat labour.



Now a day , many thing can classified as foreign talent :???. example: the sale staff we see at many retail outlet and they are just sale staff , but they are employed as sale supervisor, sale engineer. the sweep at some estate are call admin officer



The worker of course say that is fair . If supposed , the company cannot maintain them and give up on them , then there will be no CPF to talk about .Take into account that employee , just have to wait for salary, during bad time , the company does not have much order and the employee has less jobs , i don't think they complain about it ,whether, the company make money or not .the employee will get their salary , so what is that to complain. However, the company had to pay for all the overhead and takes loses and keep the company floating so all employee will have jobs to to and be employed at all.



I think, if the government will suggest that employee pay less CPF , they will say yes also.

in short , when the employee pay less , they say yes , when employer need to pay them more ,they will also say yes.



Suggestion:Fire some workers, keep the cheap labour that can perform multiple task

or employ the many jobless around

Answer 20

The top 3 super economies countries USA , Japan and China are still very concern over the unstable economic growths. All three are still assisting companies to tight over and only will withdraw any economy packages when the dust really settled. Yet Singapore are so quick to pull out of the government assistances to companies. First they announce the the need to push productivity by increasing foreign workers' levy and now the proposal to restore CPF. Without a country there is no home. Without a company there is no job. The signs out there are still very unstable and I don't think such a move is very wise. During the economy recession,the government had gotten the banks to assist companies securing loans at a better fixed interest rate and we are the first country that the government stop this and the interest rate is now at 5.5 to 6% comparing to the government guranteed to the bank at a interest of just 2.64%. What's the hurry when the 3 super economies of the world are still at a cautious mode. Daily news reports by these 3 countries proven that the dust are still unsettled.

Answer 21

Out of the close to $135, 000 that I have in my CPF, close to $32, 000 is in my medisave account. I have a comprehensive medical insurance that covers me beyond what my medisave account can do for me any time and all the time.



Close to 20% of my CPF sits in the medisave account. Do such people really need such a distribution of CFP money? Must there be a one size fits all strategy in the interest of money management among individuals in Singapore? Would the Government be able to look into processes perhaps that could be put into place in which - say a person's gather in the medisave account spells redundancy in light of the fact that he is well covered by his medical insurance plan - the distribution of the CPF contribution favours the person financially? I'm sure it'll go a long way for a person purchasing a HDB flat, if the percentage contribution ( which is about 66%) to the ordinary is further increased, just to give an idea.



If the Government is prepared to take the risk of having a casino (I'm sure it has done its mathematics meticulously) and trust that Singaporeans and the others living in Singapore are 'armed' enough to know how to safely guard their financial portfolia, I'm sure, the same concept could be extended to the distribution of the CPF contribution.



The present generation of people living in Singapore are definitely more schooled on money management. Schools cover this to quite an extent and the papers from time to time carry good articles on this, not forgetting to mention the reality TV programmes on the various channels that touch strategically on this issue.



In considering the huge steps taken of late by the Governement in veritably procuring a society that is more empowered to better manage its finance, wouldn't it only be fair for it to place just a bit more trust in it's people?

Answer 22

I believe and strongly agree that CPF should be restored as it was previously. When times are bad, govt and employers urge all employees to understand and be united to stand strong during the recession. Some of those who were retrenched or salaries made to a minor scale, eventually swallow their own saliva and suffered badly, physically or mentally. I have seen more families coming over to HDB centres and more families topping up their CPF by cash to sustained at least a decent home.



Regardless from which background you come from, rich or poor, let's place not only one hand but both hands to our chest and asked yourself. Can the govt or employees at least make their citizens or the PRs to have faith again in the fairness policy and also put back the smile again.



Like Batman and Robin says: "If there's a will, there's a way.

Answer 23

Yes. The common people have always been the first to be sacrificed whenever there is any economic downturn and the first to be exploited when the economy booms. Employers should remember employees who have sacrificed pay increments, contributed to pay or cpf reductions and even to workforce reduction exercises during the bad times now that the good times are here. At the end of the day, when an employee who has contributed years of labour to enrich the employer is left to fend for himself/herself when he/she retires, and whatever is in the CPF account for the employee is what he/she will be left with - the employer will not spend years taking care of a retired employee.

Answer 24

While all of us can look forward to greater economic growth in the coming months, the government should not jump the gun and start to call for a restoration of the employers' CPF contribution rate. We should wait a while longer and see what happens in the next 2 quarters. A recovering local economy does not equate to a full recovery of the world economy. Even the US is rather cautious about its own figures. With problem still looming in Europe, rising commodity prices and political instability still prevalent in many parts of the world, let us be a bit more patient. Notwithstanding that the general elections is looming around the corner, we should still be Singaporeans, kia su, kia si...and not jump into raising employers' CPF contribution rates.

Answer 25

Whilst I agree that employers' CPF contributions should be restored, I believe we will all need to do this with caution. Increasing employers' CPF contributions will mean increasing the costs of doing business in Singapore. We may lose our competitiveness (espcially in labour intensive industries) if we restore fully. I propose we increase now by 1.5% in view of the recovering economy. If the economy continues to improve over the next 12 months, probably we should review adding another 2% or so.

Answer 26

Yes, it should be increased. Not just for the mere fact that Singapore has enjoyed good growth for the first quarter, but for the fact that we should not solely rely on cutting our CPF contributions during economic recessions. CPF is ultimately Singapore's main social security net. The contribution rate should increase in preparation of an ageing society where one would need more for retirement and healthcare purposes.



But the main question is, would employers be willing to increase the contribution as it would add up to labour cost and total wage bill? It would be akin to our low fertility rate problem. It is easy to persuade the citizens to stop at 2. But once you have realised that there is a potential problem and try to reverse it, no matter what incentives you give, the results are limited.



I think the government/NWC will have a hard time persuading the employers to up their contribution. In my humble opinion, once the cut has been implemented, it is hard to be reversed.

Answer 27

Yes!! It should and is time for the employers to restore the cpf back to 20%. I can't remember how long ago did we last have 40% of total contributions into our CPF. Meanwhile, the Co should give increment if the economy is good and not pathetically 2 digit figures every year (eg: $50), especially those who have only 13th month bonuses which is actually our annual wage and not bonuses.



Some co just take for granted and that they will cut pay when economy is bad. However when is good I don't see the co re adjust accordingly.

Answer 28

Hey man, do we really have the say? given the fact that the cost of operating businesses here in Spore is very high, with the increment in rental, utilities, foreign worker's levy and now CPF restoration, what happen next is probably more business closure. So is the unemployment statistic will be restored as well :( Businesses which has just recovered or begining to recover from the impact of the financial crisis that have yet to bear the fruit, immediately comes the restoration of CPF? somehow this may not help employees to have their salary increase afterall the CPF contribution is paying from employer to employees, so what is the difference?

This is just right after the lifting of employer's CPF rebate scheme and suddely recession is over, the growth is strong and everything just jump right up..... is this really happening?

The first quarter growth maybe good but it cannot assure that the rest of the three quarter is going to be just as strong to determine that the recession is over. It may be over for some business but not across the board and not in the world, CPF restoration is definitely not now why don't we just enjoy the growth to be certain that we are out of the wood.

Answer 29

The question should be how much? Many years agoit was a contribution of 25% for employer and 25% for employee. If iot is 1 to 5% it makes no difference they (the employees) can keep it. Apparently after some time CPF is not going to live its worth other than purchasing homes, so what's the big deal, we are being robbed either way.



The "investors" earn in millions and we are given only 4% interest for special account. Why can't the government invest our monies in properties and we see real value returns.



Why can't the government invest in insurance that would have returns at the age of 60 just like a pension scheme.



We have been cheated in more ways than one.

Answer 30

Employers have got used to the low CPF contribution rate over the years. i.e. lower overheads for their business. Of course their response will be 'NO'. The lower rate the better. They will have 1001 reasons not to increase the rate.



Employees have suffered enough over the years. Some need to top-up cash to pay for their housing loans. It will be good to increase as some companies performed well during the bad times too.



I think it should be restored. As for employers, they should not expect Govt to subsidise for this restoration. They should look at ways to improve their productivity. Companies in other countries don't always ask for Govt help, yet they perform well and get into Fortune 1000 list.

Answer 31

A definitely YES! I've been an employee all my life and every time we slip into a recessionn they recommend cutting of CPF rate and salary. It may mean nothing to those sitting at the higher office earning a big pay packet but the lower income employee are those that suffer most. Less pay, less cpf + high inflation = depression.



At 55, CPF holds back most of our monies till we are 65, thus very little of our monies were given back to us when we reach 55. There is a very high possibility many of us never see our CPF monies.



Worst of all, I've seen Bosses changing cars to more expensive model and buying new houses with the monies that they made thru CPF rate & pay cuts over the years. Sigh.....



It is time to repay employee for all the sacrifices that they have made.

Answer 32

Employers' CPF contribution should be delay till next year. This year no doubt spore economy had show a rebound but it is average out from all sector. Some business sector are still struggling. Govt is going to increase the workers levy which had been impact to businesses.



We should wait after the 2nd quarter and the world economy which is still volatile. Spore depends on external factor, the most important is to keep jobs first. Raising across the board will affect many companies.

Answer 33

Absolutely.Both parties, employer and employee have been coorperative in getting over the financial crisis. Employers' CPF contribution has been cut during the economy down time so that we could be more competitive to get through the crisis. Since the situation is getting better and better now, employer should start consider and increase the CPF contribution gradually.

Answer 34

1. Increasing salaries will increase both disposable income and CPF contribution.

2. Increasing CPF Employer Contribution to previous levels will mean that salary increments be reduced by an equal amounts in the perspective of Employers.

3. So isn't it clear who gains and loses if CPF Rates are restored?

Answer 35

Currently the economy backdrop is unstable, the growth maybe based on integral factors that has injected the business growth and thus the economy is perceived as growing.The global market is still

in turmoil and going through recuperation and strateging and repositioning.The market can and will crash at anytime.The providence of success here is to wait and realise the global market first.Singapore is an Island and recuperation level is faster than others.We have a hugh industry players from different sectors and countries here in Singapore.Why chase them away to China or to any other Country where the labour cost is only a fraction of Singapore's relative cost.A rebound into the economy growth is not a promise for things to get better but rather waiting for the curve the ball to be in play.I dont see the economy as growing but more so recuperating and healing.The property market will take a major dip very soon as this sector has been viable for property speculators and quick buck investors for many years.The property market is close to a saturation point of buy and sell and will result is stagnation.My advise is keep the extra cash in the bank for there will be a tyhoon ahead of us.

Answer 36

The Sg economy has been a ferris-wheel since 1997. To keep jobs, employers cut pay/CPF contributions while employees struggle alongside foreign workers not affected by CPF contributions.

If the quota/levy for foreign workers can be revised, WHY NOT cpf contributions? But then again, the final decision will be made without our consent too, right?

If there has been strong economic data, why are companies still retrenching workers? (I'm among those affected of course!)

Answer 37

Employees would say YES. A strong rebound could be for some big firms but not small enterprises. If CPF contributions will to increase slight percentage, the employers will for sure not to increase pay. Though government hoping to see employers increasing pay for workers who suffered pay cut last year, but how many of the big companies will do so when they made profit this year? Is a (?). Hope to see "rich" employers do not neglect their employees who had contributed so much for the company during the economic crisis.

Answer 38

It is a good question. From employees' point of view, defininately yes. It will allow our CPF account to grow at a faster rate. From employers' point of view, definately no. It will add additional cost of business. That is the textbook style of answering. I personally think that there should be a slight increase, between 0.5% to 1.5%. That is to say either the employer pays between 15% contribution and 16% contribution as compared to 14.5%. In that way, both parties enjoy a win-win situation. There would not be hope in getting the employer to go back to the 20% rate as it will be costly to the company. Furthermore, a higher CPF employer contribution will also put investors off.

Answer 39

Yes. Employer should restore as economy is picking up.



We depend upon CPF for retirement. Based on the CPF we have in 30 years time to retirement, we do not have much to retire with consideration on inflation rate in 30 years time, the NPV of money in 30 years time. Due to previous crisis, employee has suffered together with reduction of contribution. Since the economy has picked up, the employer should share and restore back the CPF contribution of employees .



I think that employer has nothing to worry. Isnt CPF contribution by company is tax deductible?.

Answer 40

Definitely a big Yes! The Government has been very supportive of Employers by granting job credit for them to tie through. And now that the economy is picking up, the CPF should be restored or increased as mooted by the Govt.

Answer 41

The Q1 of 2010 showed a strong rebound of the Economic; Do Not Jump the gun and put the horse in front of the cart. It took several quarters before we got here. Just let it be and prepare for any

bad quarter that give an less comfortable economic figures.

Anyone that over stretched his dollars just let it be as one need to learn how to make and spend.

The CPF contribution is already a major fix cost for business so DO NOT increases it anymore.

Many business plan to expand with current CPF contribution schedule, therefore and changes may results in latre or abort expansion plans.

Answer 42

Employers benefit because of the resilience and consistent efforts of the Singapore work force. Therefore it is only right that the employer contributes towards the CPF of their employees adequately . People work towards a secure retirement life. If that is not met the work standard is difficult to maintain. Singapore cannot afford to slack on that. So it is essential to increase employers' CPF contribution simultaneously with economic recovery.

Answer 43

If CPF were to increase, employers might have to slash the employees' salary, or to increase the work load and reduce the manpower so as to sustain their expenses. And the economy has not even stabilise yet. So I think if we were to increase the CPF contributions there might be a lot of consequences. Furthermore, only big companies have recovered from the economy downfall not small and medium companies as they are still slashing salaries. If current CPF contributions are able to pay off the house loans debts then I think there is no need to increase it to prevent too much disturbance to the current "near peace" situation.

Answer 44

Since the sharp 32.1% in the recovery, employers should therefore restore full portions of CPF contributions. Also to compensate the increment freeze during the econmic crisis. Annual increment for every employee in Singapore should be at least 6%(goverened by law). The annual increment is far way unable to cover with the high inflation in Singapore.

Answer 45

I think that restoring the company's portion of the Central Provident Fund or CPF contributions should be left to individual companies to decide at least for now.



The strong rebound of the Singapore economy is still in its infancy, and the forecast of the country's growth, is after all a forecast. With the EU and US economy still struggling to find it's feet, the world's economy is still weak; Singapore being intricately tied in to the world's market should not get ahead of itself.



A rather more popular approach would be increase the amount of wage for employees to bring home, ultimately boosting consumer spending. However with that in mind, it's an important thing to note that our CPF helps for government housing, and would help Singaporeans with financing their homes especially for young couples that wish to start a family.



Employers' could look to more creative ways for rewarding their employees; for example provide bonuses for work place initiatives to streamline business practices, or even further equip staff with skill sets essential to the success of the company. It might seem trivial compared with a pay rise, or even increased CPF contributions but ultimately we as Singaporeans stand to gain from such steps.



From my viewpoint as a young Singaporean adult, i feel the increase could be feasible but we could rein in the horses and take a high point to be sure that the river is calm before taking that first step across.

Answer 46

Yes i think it is the right time to restore the CPF contribution by the employers after so long of struggling by the employees. It is time to restore back. It is time for the employers to help the employees or repay the struggling since the crisis. This will tie bound between both party. Better co-operation, stronger ties, etc...

Answer 47

We can write all we like here but are the decision makers LOOKING? PLANNING?

Employers should contribute more than employees ..to follow Malaysia.

Employees should contribute a fixed rate throughout the years and not varies.

CPF is mainly for retirement..think about those who didn't make it there.

So WHY put in so much today into CPF?



For foreign workers or PR, why when closing CPF, they cannot withdraw money in Health account?

Answer 48

In the current rapid increase of housing price, I think employers' CPF contributions should be restored as soon as possible, therefore employees is able to afford the increasingly expensive housing for a shelter.



In the past few years, employees' CPF contribution rate was cut, and employees are drawing less money to CPF ordinary account to pay for housing installments. However, in contrast to this cut, the housing price keeps going up.



Therefore, I think the CPF contributions should be restored as soon as possible.

Answer 49

Ofcourse. Where is the logic behind not doing so?

Market Improves , We work hard, More Money In, Employer Gains, Why shouldn't Employees?



Yes Yes, and Yes Employers' CPF contributions should be increased - to even 20%.

Answer 50

In the current rapid increase of housing price, I think employers' CPF contributions should be restored as soon as possible, therefore employees is able to afford the increasingly expensive housing for a shelter.



In the past few years, employees' CPF contribution rate was cut, and employees are drawing less money to CPF ordinary account to pay for housing installments. However, in contrast to this cut, the housing price keeps going up.



Therefore, I think the CPF contributions should be restored as soon as possible.

Answer 51

I would think that it is fair that the CPF contribution should be restored as the economy grows. Employees have played their part by accepting reductions during recession, thus it is time for the employers to reciprocate the graciousness demonstrated by the employees. It needs to be a partnership of give and take both ways and that's the only way to ensure a continuance of good employer/employee relations.

Answer 52

Yes, We employees has been supportive in the initiative of reducing the employers contributions and since there are reports on the news that Singapore's economy is on the rise, it is only appropriate that the employer's contribution should increase too as many singaporeans like myself are paying our house loan through CPF.

Answer 53

CPF contributions should be restored to all employees now the economy has improved tremendously and is promising. Employees had made sacrifices for their companies during the downturn. Now the companies have been made profits, it is fair and reasonable for employers to restore the CPF to all employees (full tome workers) so as to boost their morale and would be an encouragement to all employees to strive for their employers in good and bad times.All employers had received help from the Singapore Government during difficult times.

Answer 54

Who do not want more money in their CPF account? CPF contributions should be restored but at a steady rate. Bear in mind the economy has just rebounded from a recession. Employers should look forward to tax incentives such as tax rebates for contributing more towards their employees' CPF.

Answer 55

Yes, the employers should restore not only their portion of the CPF contribution but also the salaries of their employees. Many unscrupulous employers will not miss any opportunity to save their own pockets once there is any news being announced about economy downturn or any suggestion to cut the salary of their employees in order to cut cost..etc. But when in good times, where the government encourage better bonus for the employees, this will never happen. So yes, please restore our CPF contribution.

Answer 56

Yes of-cos. Questions: Why it took weeks to decided reduce CPF contribution and how long does it need to take to increase CPF contribution? And wasn't this being agreed before reducing CPF being implemented?



If Labour Chief cannot manage to urge employers then the 'Senior' can help to enforce employers to restore CPF back to normal, if not it defy the purpose of help economy when you need us o.O!! We are not cheap labours=)

Answer 57

I think the guardian of our CPF fund may know better when is the suitable time to restore employers' CPF contributions. As some had indicated this is only a projected rebound of the economy.



So if my hunch is correct, I think there will no better reason for employers to delay the restoration when the economy is in real solid stead.



So please don't waste time. Restore fast, and cut fast without hesitation. Be rational.

Answer 58

Well, it is a Yes, and No answer.



Yes, for those well established companies whose employees have been faithfully staying through thick and thin. If profits are really coming in, please don't take advantage of your employees, they have been making years of sacrifices. It is best to restore the portion contributed by the employer at the soonest time possible. Be fair employees !



Singapore is a such an expensive country to live in and with a small pay package and near to zero perks, restoring the 20% will do lots to help struggling employees.



No, to those companies who are still at the early stage of start up, they need all the support they can get.

Answer 59

I think employers and policy makers should consider restoring the employer's CPF contributions. Since there is evidence that the economy is experiencing an upturn for the better, the extra contribution would help home owners, who do not have enough in their CPF to repay housing loan.

Answer 60

I think it should be increased. Not many employers will automatically adjust the salary thus, by adjusting the CPF seems to be the only compulsory way. Whatever the increment won't be sufficient for the increase of the meat and vegetables in the market which has almost doubled the price. I wonder what does the Government include in calculating the inflation rate.

Answer 61

Every body rush to say something for the Employee at a time like this, but I think the Govenment know that it's just the first quarter & company must recover it's financial strenght first before it can reward it's employee. Increase Salary, increase CPF, Increase Levy, Higher bonuses & better benefit and stay competitive to pay TAX. I only hope this is achieveable. I hope the Employer chief if there's one who dare to speak up for the many employer who are still struggling or even go bankrupt.

Answer 62

Yes.. as previously it was 20% employer , 20% employee.. Now the economy are picking up so it should be the best time to restore the CPF contribution for Employer!

Answer 63

I think the govt and stat boards should set the example by raising the CPF contribution for their employees and encourage private sectors to follow suit. As mentioned by some here, when economy is bad, the cut is immediate and some are required to take no pay leave and yet, more work as there is head count freeze and when a person resigns, his workload is shared by others in the team. Prices for everything is increasing but salary don't increase as quickly - that makes very unhappy Singaporeans.

Answer 64

Yes, Employer's Cpf Contribution should be restored.

Answer 65

Personally, i don't agree with the restoration of Employer's CPF at this point in time. Whether it is a consistent and long-term rebound of the economy depends on at least a year of economic performance. Even with the strong rebound, what is the basis of comparison? If our economy has suffered tremendous distress due to the global economic crisis, then the current rebound is just a technical adjustment. What is there to thrive about then?

Answer 66

Yes Of course. Few companies year end no bonus,always say no profit and still in Business. Also no increase in salary even good performance in sales.It is good that employers' CPF contributions should be restored. Good for retirement savings.Employees will stay on to the job and less job hopping.

Answer 67

Yes. I strongly agreed that the employers' CPF constributions should be restored since the Singapore economy has shown positive figures and these may encourage more retirees back to work force. And these would like the old days helping towards the country economy strength.



It's also may help the youngers generation to work harder in order to have better retirement.

Answer 68

If we don't restore the rates now, when economy indicators are pointing towards firmer growth and the stock market and property prices have come back strongly, then when will be a good time?



If we are looking for everything to be perfect, hunky dory, then we may never see the day when the rates are restored to the original quantum. There will always be those who are on the look out for the slightest excuse to not implement the restoration. The excuse that now can be used is that Europe is in a flux with the potential crisis blowing up in Greece, and that China faces prospects of her economy overheating which in turn would cause 'havoc' on our end.



What I'm saying is that there are just too many variables which are not within our control. As they say, in war there is never a perfect plan. If we were to wait for one, it may never happen.



Can the rates be adjusted in a more robust manner, like how the oil companies increase or decrease their pump prices or how rates for electricity and energy are computed and adjusted quarterly?

Answer 69

Not at this time.Mr Lim is trying to kill two birds with one stone.One is to tell employers that this is the voice of the people. Second is to top up the CPF coffers so that the Govt will have sufficient cash to invest again. While I do understand that there is always a risk in investment but putting top CEO in charge of our money who had no proven records and had time and again failed in managing a company is like trying to launch a ship without a radar.There are countries like Greece, Portugal & Spain still in financial chaos and will likely cause a ripple effect to the world. The govt has to remember Singapore is a small country.We will catch a cold when they cough.I urge all fellow Singaporeans to exercise caution -- a rise in one fold will give ten folds in their CEO bonus. Just be careful when the yuan appreciates the US dollar will drop drastically.Cost of living will rise again.

Answer 70

Raising the CPF is definite good as it increase saving for the old age.With an aging population the future financial needs of the citizen will be more pronounce, especially the older citizens as it get harder for them to find jobs.



But if a way can be found to vary the CPF increase or decrease with the economy it is definitely a better solution.

Answer 71

I feel that there is no necessity to increase employers' CPF contributions. Some companies are still struggling to survive and any increase will add extra burden to their cash flow. Those companies that perform well can reward their employees with extra bonuses. The rebound of Singapore economy could be short-lived as the current world economy is very volatile.

Answer 72

Kris are you a employer. If the cpf contributions for employer increase and our salary are slash we can get the union to fight the decision to increase the employer contribution is the government why must employee suffer for government decision and also when economic is bad it is unfair right. The government give companies so many tax rebate. Do you know why our service standard drop? It is because we canu concentrate on our job too many things to think for and like what we say pay peanut get monkey.

Answer 73

Certainly!

The original CPF contribution cap used to be at $6000 per mth which gradually reduced to the current $4500 per mth due to lacklustre economy.

Now that, the economy had weathered through the worst crisis ever, it is time to gradually raise the contribution cap back to where it comes from. Moreover, our property price had been ascending since mid of 2009 whereby the current level had been breaching record price levels. Raising the cap could be helpful in assisting the loan repayment instead of increasing across the board in contribution rate, resulting in destabilising the business arena.



Care must be taken as the present upturn may be too fragile to sustain such an impact. So i suggest the government to implement the rise in CPF contribution in progressive steps, one step at a time, starting from the least impact approach to test the recovery. If the recover is proven robust, then further aggressive moves could be given the shot.

Answer 74

In Singapore, home loan is a financial debt which almost every Singaporean carries. Cost of living is also going up with the recent improvement in economy, but salaries are still quite stagnant. If econony is improving and companies in general are doing well, it is probably a good time to consider reducing the employees financial debt.



So my vote is YES, CPF rates should be restored. This will assist home loan repayments.

Answer 75

Greetings,



I strongly agreed that the CPF contribution by the employers must be restore immediately. MVC must also be paid in accordance to the market rate. If possible a special bonus in September 10 must be given to all employees who had taken a pay, CPF or MVC cut during the recession.



Thanks for asking our feedbacks

Answer 76

Certainly, as the economy is recovering, employers should lessen the burden of employees.



Of particular interest is those who are above 50 years of age.

The government lessen the CPF contribution by employers to this group of workers so that they are more easily employed.



However, a substantial number of this group of workers are actually the most useful people of the organization, probably the senior management of most companies. It is time to review existing policy regarding CPF contibution.

Answer 77

That's good idea for building the country but behind that it is the employee who suffer because the employee and employer CPF share was paid solely by an employee. Most employers states in the job contract that both the employee and employer CPF share should be paid by an employee. If you don't get the job then your family will suffer. So an employee has no choice.

Answer 78

Most definitely. It doesn't even need consideration but should be automatically restored. When times were bad, they cut the contribution without considering. Hence, when times have improved, they should restore the CPF contribution by employers to full. It is about time. If employees have been paying 20%, the employer should pay even more, say 22% to make up for the period when employees were paying more and employer less. Isn't it obvious, it's always pro employer!!!!

Answer 79

I am an employee myself. Being in an SME company, where most things are transparent, i have grown to understand the concerns of an employer and what they need to do to survive the company and ensure the livelihood of the employees. Its a responsiblity which the company undertakes as part of its business concerns.



The economy has just recovered. Business is perhaps slowly picking up, Cash, which was the main concern has yet to be replaced or grown. Objectively speaking, it is not fair to start talking in that direction.



An employee's full package is not the pay stated in your contract. You need to factor in the employer's contribution for CPF portion,. That is how an employer will tabulate its total expenses monthly.



The increase may spell trouble for smaller companies, who need to fork out an average of $200 each staff for the revision. This increase is amidst the acrrual which is yet to cover during the hard times such as income tax, CPG and GST which they have problem paying.



If the decision is made, I am sad to say, it may only mean employers finding ways to cut or bring that cost back to employees or customers, which is not good in any ways.



I dont see the need to rush for the CPF at the moment. For one or for all? Think of keeping the rice bowls for your colleagues, not just you.

Answer 80

Yes the employers contribution should be restored but taking into consideration reduction in their operating costs in taxation. In making Singapore attractive to these companies there must be a trade off. The government must review its corporate taxation and or tax reductions to balance of the restoration of CPF.

Answer 81

Why Govt ask us at this time? Like many others importance policy, they decide if they wish to without consider on the ground feeling. May be the Govt is quite relunctance or has no confident to increase the CPF rate as time still not clear, But election is coming and to pleased the ground, they throw the ball to the employer and if employer strongly against it. They have some one to be blamed, not the Govt.

Answer 82

Well since the Singapore's strong economic is going why not the employers' CPF contributions be increased.The employers' have been enjoy for many year not increase there CPF .thank you

Answer 83

Nop, our CPF shouldn't be operated like stock market. Economy good, CPF contribution increases, economy bad, CPF deduct. Who would like that to happen. So difficult to judge & pay our housing loan or other saving and investment objectives. Those who suggested are asking for trouble as when the economy is bad, the govt will go a round of drastic cut. Common sense right.

Answer 84

CPF Contributions Increased from employers? Yes! utterly agreed!

Answer 85

Employer's CPF should be restored as the economy is picking up and after so long that is has not been restored. Now economy is better, to restore cpf is one of the ways to motivate employees to achieve better

results for all companies.

Answer 86

Yes if only the Economy is really "Good"

Labour Chief should not only ask employer to re-store the CPF but also must ask the Government to assist the Singaporean.

Many are suffering..what the use to re-store CPF and than cannot withdraw to use ?

Answer 87

It would only be appropriate for employer to consider reviewing the contribution made with the upturn of Singapore's economy, if we were able to make changes while the economy was bad why shouldn't be back to how it used to be when the economy was performing well. As my personal opinion, employers shouldn't take advantage of this temporary change that was made to help them remain competitive and retain staff but be grateful that workers, anyone who's contributing to CPF. understood and adjusted well to the change. That being said employers should take the conscious effort to review their own performance and review the contributions paid out to workers.

Answer 88

No, Increase in CPF contributions will very likely to be tagged to another CPF minimum sum increase, net effect is employees will not get to benefit from this increase but rather the organisation that uses our CPF money to 'Gamble' It is more practical to have an across the board pay increment since most of us either have pay cuts or no increment during the downtimes.

Answer 89

By all means but provided:

- Employers will not reduce wages in return to cut costs

- Measures are implemented to prevent employers from turning to foreign workers instead to avoid the higher cpr rates



That said - shouldnt the cpf board also consider allowing its members withdraw a portion of their cpf savings at age 55 and all of it at age 65?

Answer 90

we as an employee has been sacrificed since 1997 economic downturn to help the employer to save cost by cutting the employer's contribution from 20% to 14%. Now that after so many years, it is time for the employer to restore back the original 20% if not close to this figure progressively. Give and take should be the way the industry to function harmoniously.

Answer 91

Increasing Employer's CPF contribution is additional cost to the corporate. Employers may adjust the planned salary hike downward to compensate for the increase in CPF contribution rates.

Answer 92

Yes, employer's CPF contribution should be increased. Most of us are paying our housing loan through CPF contribution deduction and this extra increase will ease the burden of having to pay cash, for some of us, not young any more and still paying.

Answer 93

Yes I do believe employers CPF contributions should be restored. Provide other benefits to employers like tax cuts or investment incentives.

Answer 94

Increase employers' cpf contribution. There is no other choice.



It's still the employers' market.

Low level employees' take home pay is already very low. But employer still can still outsource and find cheaper labour even cpf contribution is not increase.



Will employers increase pay if don't need to contribute increment to cpf? But they can surely reduce the pay when they feel like it and can sure find any reasons to justify the low pay.



The low pay is not just because of cpf contribution but also include other factors/ competition in the labour market.



So in the end employees have to suffer with low take home pay and hope cpf can at least increase so can pay for house loans, medisave and hopefully old age etc.



Anyway if really economy rebound, business have to spend $$, if don't spend here, then spend in other country?



Besides if businesses have difficulty with $$, it's also easier for govt to segment according to industry and help them then to help millions of citizens with so many different needs. Never see how the payout to poorer citizens is so miserable little because have to divide among so many poor people. Pls have more flexibility for poor citizens to utilise their cpf during bad times too. $$ park in cpf and still starving is crazy like die of hunger when still have $$, other people thought we die of stinginess/ brainless. Good times save, bad time must know how to use savings for rainy days.



Just like how govt gives incentives for companies to upgrade their staffs, innovations and productivity during the downturns. Don't know EDB spend how much to help R&D already, businessmen still complain. Just take it as contributing back to society.

It's a cycle.

Answer 95

Definitely, yes.

Employees had their Employers' CPF Contributions reduced during the difficult times. And, it should be fair that it be restored as the economy has rebounded.

Answer 96

Yes, the employer should restoring their contribution to CPF. The contribution should more than employee portion (20%). Some Company never think of and take care employee. No AWS (13th month) and Bonus. How the employee work in such a lousy company? The management team have AWS, BONUS & PROFIT SHARING. The employees have NOTHING. So PITY to all the employees who work in such company. :(

Answer 97

Of course it should be restore. 1st, who help the employer stay afloat? Workers, by cutting workers CPF contribution, pay and worse retrenchment. 2nd, help from the govt (willingly).

Why can't the govt just do it without just by urging employers to do so like cutting CPF is without consideration for the workers just to help the companies.

Employers now can pocket more money if CPF contribution and pay is not restore.

Answer 98

I do not think it is appropriate time for employers' CPF contributions to be increased as this will add more unneccessary pressure to the employers. Do think of them when the economy is the dooldrum and despite that they are willing to keep the employers.



Let us constantly monitor the current economic situation carefully and study the trend of growth and whether there is an exterior factor to cause any erosion later,,,,,,,

Answer 99

I don't agree with uping the cpf rate now. The overall market doesn't seem to be as strong as said to be. What the government should do is lower the foreign labour quota. Someone mentioned about companies firing long service employess and hiring fresh grads or cheaper labour to lower costs. The result is loss of knowledge and incompetent bosses. These are just 2 of the reasons why pple now have to work longer hours.

Answer 100

Yes, I definately agree and that would help in my HDB Loan too. Keeping in mind that the economy might have picked up but not fully recovered, big companies should restore asap but we should conceder small companies that might be still recovering. If we are not sure, at least the cpf contribution for Singapore citizens should be the first choice in restoration.

Answer 101

That will be a YES! The employer have been enjoying a "discounted" CPF contribution to their employees for such a long time. It is only fair that the employer should revise their CPF contribution.

Answer 102

s time for the employers to restore the cpf back to 20%. I can't remember how long ago did we last have 40% of total contributions into our CPF. Meanwhile, the Co should give increment if the economy is good and not pathetically 2 digit figures every year (eg: $50), especially those who have only 13th month bonuses which is actually our annual wage and not bonuses.



Some co just take for granted and that they will cut pay when economy is

Answer 103

Even though the economy had picked up, but not all the company is doing well. If increase employers' CPF contributions, it might be another burden for the company that is not doing so well.

Answer 104

Yes, the CPF contribution by Employers should be restored.

When situation is bad, we think for employers but now it is better should we should

take care of the employees?

Answer 105

Can 1st quater seen what is 2nd and 3rd and benifit CPF board and empolyee, it should be recommend to give back to employee on hard cash with the share of what is earn from the bottom line , then restoration for both CPF and employee will have the same impact .

Answer 106

A definite YES! (btw, were employees asked "to consider" reducing their CPF contributions during economic downturn?) In other words, did they have a choice.......

Being the biggest employer in SGP, I believe the govt can show good example by taking the lead to reward working-class for their ability to compromise during bad times. This is really about integrity. Keeping it short, not only should it be done, it should be done as soon as possible rather that wasting precious time talking about it.

Answer 107

Employees will cheer to that ideal, but thoughts have to be given to employer as well.



The economy may have picked up, but think about the losses and the bad times the employers

have gone thru. If you were not retrench be thankful.

This beginning of a good time will help them to recouperate and improve their business.

Give them time!

Thinking that employers should so quickly restore their portion of the CPF would please us employees in the short term,but it may drain the employer financially and put employees at risk for another retrenchment.



More can be done to help us, like lower GST rate, lower fuel taxes, etc from the government.



So, Yes for employee, no good for employer.

Answer 108

Yes it should have been recommended earlier. At least now they considering. Thanks. Most of the people depend cpf contributions to pay their home loans. Now singapore is in the top list of higher cost of living. They also can recommend to pay a lump sum (compulsory like cpf contribution) cash payments to employees who have been with the employers in the down times(atleast).

Answer 109

On bad time, the cut on CPF is almost immediate. Upon recovering, govt is only considering. Over the years, prices on everything has gone up greatly. The panel should consider paying more hard cash to employee to cope with daily bread & butter. What the use to restore $$ which cannot be used.

Answer 110

lol, now i feel CPF a bit unsafe also, of cause increase the better lah.



But it seem to me every 4 years the maturity when we can take out our CPF keep increasing by one to 2 year, at this rate by the time I retire I think our CPF withdrawal age will be over 100 years. What the point of CPF

1. the interest is extremely low, much lower than most pension plans

2. we have no complete control over it.

3. cant use it to fund private education, like my SIM UOL studies cannot be funded

4. finally there is a CPF life, which force us to buy annuality without any choice.

Now assume the payout is age 65, and I live to age 75. Now I assume discount rate of 5% since I can easily earn 5% on a rf portfolio.

assume I get life basic plan and get $180 a month on average. A year is 2160, suppose I reinvest my fund every year at 5%. All in All, N=10, I/y = 5%, PMT = 2160 Cpt PV = 16,679. And I have to spend 20,000 of my RA to get something worth at most 17k?

to be honest to break even u need to collect for 13 years at least, that is if u start at 65, u must die after 78.

So what the CPF annuality, it is to take the money from short life people to fund the lliving of long life people



yes of cause an annuality is suppose to last forever but for CPF life it last as long as you live, and yes it can be bequested or transfer to a living person, but this is now, we never know our governemtn very clever , they sudden come out with some bright excuse and say it is harmful to us if we transfer, and they wala take our moeny when we died.



btw if u read cafefully, it say there wil lnot be a brquest if one pass away after the savings used to join CPF life has been fully paid out in monthly pay out. In short I would neve get more than 20,000 if I die b4 recieveiong more than 20,000. Supose I so suay did when i just collected 20,000, then my family get nothing, and plus I lost all the potential interest since the interest return gfiven by the CPF life is so pity, like less than 2% if I not wrong.



ANyway according to the plan you can choose bequest vs income level. Suppose I choose life income and get $200 a month or $2400 a year again at 5%. PV = 18,532, still much less than 20,000. but this time I leave very little bequest.



the key is unless u live very long you can nver get more than 20,000 including your bequest, and even if you get 20,000 the PV of money tells you you still lugi. Well it may seem that you can achieve more than 20,000 but rest ensure in no time the goverment would come out with ways to make sure no one can profit from the CPF life scheme, and I wont be surprise that they may even come out with a plan to stop payments once we collected all we "invested". I am not saying they did or they would, I just say they may. Well for our government, we dont know what they are thinking.



My idea is employer must continue to contribute but employees can become volunteer, if they think its good they contribute, if they have better pension plans, they dont, and for god sake the annuality is a good thing, but please increase the payout, or reduce the price

Answer 111

Yes and no. Restoring the CPF would only add cost to the employer, not to mention other higher cost like levy, high COE which willl eventually translate into higher operating cost to employer too. For employer, it is simple. If i can't make money here, I can just pack and move to cheaper location.

Answer 112

Definitely yes considering the rebound of the economy and the CPF credits employers have enjoyed.

Also, with rising property prices this will come in handly for home buyers.

Answer 113

I agreed that employer's CPF should be restored, as economic growth and the increase in pricing of all things are inter-related. Everything is increasing in cost especially housing. And we as the employee are feeling the pinch.

Answer 114

It's long overdue. We thought the Govt has forgotten all about it. And she only focus on recovering revenue to remain relevant in governing.

What so big deal to restore half a percentage or even 1. The past 2,3 years inflation has overtaken

far more than what some employers has increased our salary. More than 50% of middle income workers even sufferered pay cut, some has not been restored as yet.

Answer 115

Every time, the economy shifts into low gear, the CPF is used to reduce cost to compete.

Please stop talking about it. I am tired of it. Every year, we wait haplessly and helplessly. Someone in position has no other plans other than twisting the CPF?Come on! Get into thinking mode. There are so many scholars. Surely, they can think of some great plans.

Answer 116

I sincerely believe problems will arise when such rule is implement.



Why does one need so much in CPF account ---> mainly due to purchase/monthly installment of HDB flats.



Thus to rectify the problem, govt should decrease the price of hdb flats, decrease the interest instead..



Ironically, instead of doing the needy, they suggested a double edge sword.



increase in cpf contribution ===> good for employee, assuming having sufficient for installments/down payments etc.



However bad for employers ---> increase in expenses

An EXAMPLE of alternative ===> lay off "high paid/long service award workers" replacing with fresh grads or younger working adults who will draw significantly lower by 2 to 3 times salary with the same job scope. ==> decrease in expenses...(which is common in SMEs and most MNCs)



Sad to say, there is no rational in such changes since Singapore comprise of mainly SMEs and not MNCs....



And guess what, the answers given by many are totally nonsensical, wanting such changes without even considering the consequences. Care my friends, u might be in the list of retrenchment when such changes are implemented..

Answer 117

Of course, they have to follow. Its not fair to us!! Everything is expensive nowadays. If the employers pay only 12%, then we should also follow..Where's the fairness? We work hard for the family, we also want more hard cash rather than put the money in CPF contributions.

Answer 118

I personally feel that it will be nice if Govt allow compaines to volunteer to increase the contribution for employee CPF by their comfortable percentage that work out by their accountant if the current contribution % stay. Only the companies itself know how well they are doing and how much more they can contribute to extra reward the staffs other than bonuses.



I am fully agree that some companies have not recoup their loss from the last crisis but by remaining the current % of contribution, it will be unfair to those empolyees whose companies has recoup and start profiting.



I strongly feel that there will be at least 2% increase bcos the election is nearby... u ppl know la... wat our govt is capable of...

Answer 119

Nope because of mutiplier effect. CPF rate goes up, it will be followed with HDB price increases and increase in medisave/Mediisheld and mim amount. So why not reduce HDB prices and maintain the rest at status quo?



CPF rate goes up at employer side, employee will have to work like "cow", even though employee have been stretched to the maximum already!

Answer 120

Should be restore to 20% from employers.

If economy get bad in future, then to keep employers economy strong CPF can be reduce again.

Answer 121

We're always in uncertain times.



Companies should only cut CPF rates to remain competitive and not "jump" at opportunity to increase profitability.



Contributions towards CPF should be restored to an acceptable level for deserving employees if possible.



Companies should also share the profits with deserving employees so that employees are incentivised to work hard, smarter.



Employers should also be mindful to weed out inefficiencies to optimise overheads, and as best as they can strike a balance between profitability, positioning for growth as well as rewarding deserving employees.



Employees must be responsible for their finances. One should have his or her own road map to 'riches' and acquire the skills to attain it and be prepared to take certain risks.

Answer 122

My Answer is Half YES. To increase might to difficult to some company. Yet some company is making with giving out. So there are Good and Bad Guys out there. I personnal think that the GOV should call it a MUST to get them top up additional like ONCE every 3 months, and see how things goes. When our GOV said REDUCES, our CPF and salary start to get cut. I think is time for us to get back what is belonging to us.

Answer 123

Cry out loud !!!!! Don't you think its time. Everything in Singapore are expensive now. Food , drinks , transport etc... all increase. So why not our CPF contributions Our salary is either cut by 10% or just stagnant forever.So increase our CPF contribution. Thks

Answer 124

Employers' CPF contributions should be restored due to some companies already freeze employees' salaries.

Answer 125

Employees shouldl get either the pay increase or the restoration of CPF so as not to price ourselves

out of competition. The annual salary can be topped with bonus either half yearly or quarterly.

Answer 126

Yes, it will good for the changes, but please bear in mine that Singapore is still in recovery stages. Therefore I would rather ask the NT UC Chief to wait and monitor the market before jumping into conclusion. What is the point of increase it one day and reduce it the other? As for those who face low CPF and high HDB loan, should considering re-finance their house with HDB or to down size. HDB can also set a new rule for those applicant not to sell their house to open market instate to HDB and HDB can re sell it to those PR. In this way the price of the open market can be easily

monitor and controlled.

Answer 127

Yes. when economic is picking is fare that employers' CPF contributions be increased. Atleast back to last time rate. Now a days goods, Utilities and bus fare are so expensive we are continue to earn so little..

Answer 128

Of course! If we all remembered, Employer CPF used to be 20% in the earlier days!

Answer 129

yes, CPF contributions by employers should be raised to 16%, bearing in mind the rising costs of everything in Singapore, public housing especially.

Answer 130

Strongly agree.

Whenever economy is bad, we will get a pay cut/CPF cut etc, whenever there is inflation, all prices will go up sky high, but the reverse never happens.. when the economy recovers and doing well, pay never gets restored/CPF never gets restored...and best thing is deflation never seems to bring down the prices of our daily necessities.

Answer 131

No, rather make it optional where the employer can choose to file applications to increase for their employees or not. Don't make it complusory, local policies are usually yes or no which is not flexible.



By increasing their cpf for employees when basic wages is already stipulated to rise, the cost of hiring a local for a similar capacity job would be too much compared to foreigns

.

Employers would be more compelled to look elsewhere for cheaper source of labor.

this is especially true for frontline or lower tier jobs which also makes the bulk of the job capacities.

Answer 132

Well, its a Yes & a No.



Yes - to restore back employer's CPF, it will helps lots of individual to tide over better times.

This is obviously GOOD!



No - its taking the risk of lowering individual basic wages too. If the rate for employer is too high, and to maintain the cost or to cost-down, definitely, pay increment wont exist anymore; and might experience pay-cut though.

Answer 133

Personally, I dont think it's the right time to increase the CPF contributions. Just look around, only the major players (G associated sectors) are c~ing the increase. Whereas, those normal normal shops are not c~ing any increase in businesses @ all.

Answer 134

If you are the employee the answer is yes.



if you are the employer the answer is no.



Without a doubt the rebound has been strong but not all sectors though. Companies that have been doing well should take the initiative to reward their staff and not wait for the labour minister to make such a call in the first place.

Answer 135

With the current ups and downs in business and recession still not fully vanished I think the increase in employers CPF should be kept on hold. Also the small companies are still batteling the recession and keeping their over heads low so may be the bigger companies should be increased.

Answer 136

Definitely, with economy growth in sight, contribution should be restored. It should be done gradually and immediate. As I can see, restoration of CPF contribution would not affect very much on inflation compare to an increase in salary leading to increase in disposal income thus an increase in pressure on inflation.

Answer 137

Of course. Our CPF was cut like since 2003. It's high time workers like me get their just rewards. The government should restore some confidence to the public, amid the inflation and high costs of living.

Answer 138

y waste time asking this question? Everyone who contribute CPF sure wans employer contribute restore back !! what price goes up never comes down...now this GOES down..never wanna to come up? What are the GVT doing? WHat are our Employer doing? Or it will act as a GE topic again ??

Answer 139

I think it is prudent not to make any upwards adjustment in CPF contributions ….. it is a bit too early. Forward looking measures still don’t provide evidence of a “V-Shape” recovery. At the moment recovery indicators of the real economy are not very

consistent ….. unemployments are still the main concern.

Don't kill the goose that can lay golden eggs!

Answer 140

Given that employees have had their CPF employer's portion sacrificed during lean times, when the company and overall market situation improves, it should be rightly restored to previous good times level.

Answer 141

for the employers to restore the cpf back to 20%. I can't remember how long ago did we last have 40% of total contributions into our CPF. Meanwhile, the Co should give increment if the economy is good and not pathetically 2 digit figures every year (eg: $50), especially those who have only 13th month bonuses which is actually our annual wage and not bonuses.

Answer 142

Yes... Employer should restored the contribution to 20% as in the past.

Answer 143

I think no need because employers are also human. If you ask them to restore may be they will cut somewhere else. The more practical is the singapore's labour chief can encourage them to increase our pay or more bonus I think is very good for us as workers since economy has rebound. We also has money to shopping to boost the market more.

Answer 144

agreed to employers' CPF contributions should be restored. this is fair for all workers contribution, since economic of singapore down turn for so many year.

Answer 145

Not only employer should restore the CPF contribution but also increase to 22-24%, more than two decades ago the employer contribution was 25%. see link as follow: http://mycpf.cpf.gov.sg/NR/rdonlyres/27074ECF-F5CF-4FB2-AB8E-C4FE45DB5217/0/CPFTrendsandHightlightsContributionRates.pdf

Answer 146

Ya ya ya , a strong good reason for bosses to freeze your bonus and salary increment ! who suffer most ? The lower income group . The next affected group will be the fresh graduate , who suppose

to draw a minimum of $2500 may end up being offer $2200 for the sake higher CPF contribution by bosses. Another good reason to lock your money in ..

Answer 147

Yes,employers' CPF contributions should be restored.

Answer 148

Yes because malaysian and foreigners do not need cpf and their salary not deducted and do not own a house in Singapore and draw a full salary from their pay except PR and we Singaporean always become the scapegoat of our own country and companies especially foreign companies only think for the foreigners.

Answer 149

Yes. Employers are more afraid of levy increase then CPF restoration.

Answer 150

Yes. Should make it a variable component. We got the cut during recession times. Its about time they restore the employer's portion during this good time. Should economy goes bad again, they can revise and cut again. Employ some flexibility so workers can gain. This way its more fair.



Don't be like the public transport charges. Hikes justified by recessions, soaring oil prices. But when economy recovers, oil prices stabilizes, high transport costs remains. Tranport companies earn millions every year. What do we commuters get in return? Traffic congestions, bad services, packed buses and trains still. Sigh

Answer 151

YES please immediately and would appreciate if singapore govt should also do a check on employers who paying salary to all employees who are under pay cheque and i believe not only me are facing the difficulties during recession of pay cut but all of us are involved. It's time for the employers to help employees who stay behind and support them through all the years.



It's time that employers should stop all the sweet talk and do something to actually benefits all employees salary and CPF contributions who works hard for them and work smart to save their company during the global recession.



Thank you!

Answer 152

All of you guys got wrong answer.....employer just take advantage to use economic downturn as a reason...but they are enjoying $$$ from government recommendation to cut Cpf contribution...but stay in a luxury apartment.....buying new car....holiday........i think government should set-up another MINISTRY OF EMPLOYEES......this dept must have the power to guide and teach a lesson to employer....or else we singaporean eat peanut and wait rain water for lunch........

Answer 153

You are definitely gonna get more Yes' then No's. Why? Simply because there are more workers then employers. Your statistic is skewed. Indeed, "things are more expensive...", said a respondent. I fear to the point that exisitng as well as to-be employers are considering leaving Singapore. Cost of doing business is just getting too high. This burden is felt more at the SME level who form a major provider of jobs. If they go busted, guess where are the workers going? Trust me they will cry baby all over again. As for the MNC's, they can do their math. Our neigbors who have been copying everything we do, are already extending theirs arms with grins all over their faces. I agree with Mr Lee HL, don't beat the drums of victory just this early.

Answer 154

Yes, it should be restored. This is the only way for me to see "a little increase in my salary" through the CPF.

Answer 155

YES. When economy is down GOV said CPF have to be cut we can't said anything but economy is up for so long they should restored our CPF. Be fair to the employee

Answer 156

YES.. Employers should increased the CPF contribution percentage for all employees. It been many years that employers contribution lesser percentage than the employees. I feel that employers should contribute even higher percentage than the employees.

Answer 157

Employee CPF contribution should be increased, because in last 1 year everything is very costly here, mainly the high rental of HDB. For expat now its very hard to survive.

Answer 158

Employers'CPF contributions should increase to help people to cover some price hike in current property market. Similarly, reduce the Job Credits amount but continue till first Q1 of 2011 to help the employers on operating expenses.

Answer 159

Not at this moment. Though it is picking up, employers need to be cautious as nobody knows when it will hit again. Let's watch and see what happens over the next year and not make silly decisions now and regret later. It will be a huge added cost for employers and employees like us rather have a job than not have a job!

Answer 160

Bosses in singapore are mostly down-right greedy and self-centred.

In good times, they should volunteer to increase the rates but instead have the cheek to resist it.

These people have a lot of grouses about singaporean workers but they should have look at themselves in the mirror.

Big companies are making big money but other people also have family to feed !!!

No wonder singapore job market is invaded by cheaper foreign labour.

THERE WILL NEVER BE A PERFECT TIME FOR THEM TO RESTORE THE RATE !

Answer 161

When economy was in downturn employers has taken immediate steps, and implemented all sorts of measures to sustain in the business, other hand employees suffered a lot.



Now as the economy is in positive trend definitely employers should show their gratitude by way of restoration and some pay increments as well.

Answer 162

have the say? given the fact that the cost of operating businesses here in Spore is very high, with the increment in rental, utilities, foreign worker's levy and now CPF restoration, what happen next is probably more business closure. So is the unemployment statistic will be restored as well :( Businesses which has just recovered or begining to recover from the impact of the financial crisis that have yet to bear the fruit, immediately comes the restoration of CPF? somehow this may not h

Answer 163

lower overheads for their business. Of course their response will be 'NO'. The lower rate the better. They will have 1001 reasons not to increase the rate.



Employees have suffered enough over the years. Some need to top-up cash to pay for their housing loans. It will be good to increase as some companies performed well during the bad times too.

Answer 164

Due to current economic, due increase the coast of living many people facing financial problem, under this circumstance employer's Central Provident Fund contribution should be increase.

Answer 165

Good, that shows the economy is rebounding again...



Also, how about differentiating the percentage between PR and SC ? As most of the PR are planning to leave the country and took all their savings back to their country. This may help the employers as well, and more possibility for employing the SC.

Answer 166

Employers' CPF contributions should be restored and increase.......compensate for the loss (past few years)

Answer 167

When there is bad news about economy, employers will be very fast to react for pay cut and CPF cut down. Now the good news about economy, they will be very slow to react. Cos owe talk about $$$$$ involvement

To my Boss, I want my CPF and my pay back ....

Answer 168

i agree that employers' should restore back the their share of the contribution to cpf.this would enable more funds to be in the individuals cpf account.

Answer 169

The answer is simple, obviously if you are an employee you would want to restore the CPF and as an employer you would give many reasons that it should not be the case.

I'm an employee so please restore the CPF a.s.a.p.

Answer 170

Isn't it obvious the government is telling us this: "Hei. I made losses in investments. I need to top up from all of you." All the evidences are around us. Look at NTUC & Temasek Holdings. They already lost millions & billions of our money. I see old uncles & aunties hard earned money being put into "untouchable" account in CPF unwillingly. The "so-called" to protect their hard earned money is just another excuse for them to use the money openly & legally. All we see is numbers in the screen or papers but is the money really there? Only they know. What's more. The "so-called" incentives they gave us, they never failed to get them back folds over. So, even we object to it, the decisions they made still stands. Right?

Answer 171

instead of going to the CPF which will not improve the economic now, it should be given to the employee.

this will let us more $ to spend to improve the economic as not all the industries have improved.

if going to the CPF who is spending? further more by contributing $1, 0.70cent go in to our original account and we have to wait till 62 year old to spend.

Answer 172

Yes this is a right time for employers' to increase our CPF.

Answer 173

Yes, that goes without saying. This is because the cost of living in Singapore has increased at a much faster pace compare to our wages. It is tough to continue living in Singapore and it is time we restore to original level of percentage contribution. This has been long overdue.

Answer 174

Should be restored since cost of living and housing have gone up.

Employers can also consider to revisit increment in Basic wages which has been very low in the past 2 years!.

Answer 175

Yes. Even if the private sector are not willing to do so, government sector should take the lead.



As the government always mention monetary reward draws talent, this is a good time they can attract talents from private to government sector. If the private sector find that such move is causing an outflow of talent from their company, they might follow the lead from the government or they might give better bonuses as a balance, instead.

Answer 176

Yes. Standard of living is higher. With the increase in CPF contribution, it will help residents in financing their monthly housing loan repayment. Hence, residents shall have a higher monthly cash equity.

Answer 177

Why cant CPF BOARD wait till full economy recovery.Whats the urgent need? Pls dont look at big companies , look at another side of average company still struggling.

Answer 178

Definitely YES! It would really be a great help to those that have not got any salary increment for the past two years...At least it helps to boost more "savings" in the CPF!!!

Answer 179

Yes, gradual restoration over 2-3 years should be implemented in order to avoid sudden paint to the employers.

Answer 180

Rightfully yes! Government has to be fair to employees too. Reduced during bad times. Restore to original when economy recovered. Or else it does not justifies that it was due to economy downturn. Makes the public guessing some hidden agenda is the reason for reducing the rate previously.

Answer 181

Feel that is very good and appropriate as many working people (with average income) find it very difficult to have sufficient money in their CPF ordinary accounts to get a HDB flat as now the prices are quite steep.



Support!

Answer 182

Sure! During economy crisis, employers retrenched staff, cut salary. Now is a good time, they don't increase salary and just saying we break even. Inflation increases every year, we need to pay for our living. By increasing employer's cpf, it helps us to pay for our houses.

Answer 183

en the fact that the cost of operating businesses here in Spore is very high, with the increment in rental, utilities, foreign worker's levy and now CPF restoration, what happen next is probably more business closure. So is the unemployment statistic will be restored as well :( Businesses which has just recovered or begining to recover from the impac

Answer 184

Yes, This is best time employers' CPF contributionsshould be increased undoubtedly.

Answer 185

A great help to all of us who is growing old. A definite plus to more money in the CPF for use in our golden years!

Answer 186

Increase CPF rate? Then, Govt should give a rebate back to the Company who is not performing well. Otherwise, will there be a slash in salary/increament/bonus? Is'nt it obvious who is the losser and who is the winner???

Answer 187

It will kill our recovery. What robust economy? Look at the number of jobs available on the Classifieds and you will know whether we are doing well. Just today alone is so few for a Friday. Look at the salary scale of most jobs. Is it a lot? No matter what we do, we should not kill the recovery so soon just as it is picking up. Look at the circumstances happening throughout the world. Do you think its good? I dont think so. Both Europe and America is really unstable.

Answer 188

Yes employers should restore their portion to the CPF and they should employ older singaporean

to work. Because they like to take foriegners and left singaporean jobless

Answer 189

Of course, it's pay back time... government is fast to cut CPF when economy is bad... they should be as fast to restore what has been taken away from employees.

Answer 190

Definitely! These days, CPF saving are for paying off home loans, which leave us with nothing much for retirement!! and that stupid MSS. Have money cannot take! wah lao! 9 to 5 till 95 dude!

Answer 191

Yes! everyone knows that most of us live longer. Retired age also extended. we need more cash in our CPF. Economy are bad we had it deducted many years ago. I think is time to restore it back to us.

Answer 192

cpf contribution must increased due to housing instalment paying by cpf. and school for childrens also by cpf. old age left nothing very strss full right now.

Answer 193

CPF should be cut to help workers cope with the next downturn,plan 30 years ahead.

Answer 194

Yes. I recalled the Government has promised to restore the CPF rates when they were considering the reduction many years ago. So it's time to deliver that promise.



Obviously employers will object. But they should have seen this coming.

Answer 195

But the main question is, would employers be willing to increase the contribution as it would add up to labour cost and total wage bill? It would be akin to our low fertility rate problem. It is easy to persuade the citizens to stop at 2. But once you have realised that there is a potential problem and try to reverse it, no matter what incentives you give, the results are limited.

Answer 196

Yes employers cpf contributions should increased.. employee wages must also be increase..s'porean are very hard..govt should look after s'porean 1st.. foreign workers r coming in to snatch our rice bowl..many r drawing higher salary compared to s'poreans...they dun spend much here..it is us sporeans who r spending n need to spend... every thing is increasing...if there's no increments, hw r sporeans going to survive??

Answer 197

Do you know that our retail business is bad, high rental kills, and our Government said that economy is GOOD? Where do they got the figures from? In my view this is not the time to adjust the CPF.

Answer 198

Of cos. if not in 20 years time, you can see a lot of 60 years old find themselve in finance difficulties as well as footing their heavy medical bills as lots of teens getting 30yr loan for their housing while squeezing their CPF contribution dry every month...why?...Govt promotes start a family...

Govt should have a strong urge in order to have a surviving nation in future. Thanks

Answer 199

I do believe the time has come that employers restore their share of contribution to employees. While employees took the cuts graciously, it is time for employers to do likewise. This would benefit employees to a great extent, e.g. finance and repay their hdb loans, top up the retirement account, medisave, etc.

Answer 200

Absolutely yes from an employee standdpoint. The sacrifices made during bad times should be remembered and provisions repaid when times are good like now. But I am sure that employers are against the raise - simply, it is not good for their balance sheets.

Answer 201

YES! definitely.

It can only help us to have more contribution into our CPF, so that even our pay is low there's still enough to pay for home!

PLEASE RESTORE!

Answer 202

Yes! Definitely

Answer 203

Don't waste your time debating here.



Show your displeasure during the GE. Singaporeans are a useless bunch of cowards who only know how to ***** and complain.



But when it matters... they will put their tail between their legs and support the government which hands them a few hundreds bucks. I sure hope the pittance they throw to these cowardly fools lasts 5 years... cos you all will be struggling and suffering. Why? Cos the government doesn't give a damn about you... not with the billions that they are earning... and why should they?



You all don't have the balls to stand up for yourselves.

Answer 204

Yes, the economy is increased, so can restorethe EMPLOYERS CPF contribution again.

Answer 205

IT should be a 20% contributions by the employer too.taking 20% from our pay in pain as it is a very high cost of leaving here

Answer 206

Yes! Strongly agreed to be restored; should be restored long ago. Increase benefits for employees. Encourage 5 days work week.

Answer 207

absolutely need to restore the CPF contribution... no need to ask!!! everybody is working hard to own a house, maintaining family lifestyle and paying for the house loan....

Answer 208

if had long been over due, there is so much help to the corporate world, but so little to the employee. example overtime, once it is cut, chances of of restore seem so distance, and it was replace with replace off, for some overtime pay is much practical then replace ment off.



Tax relief never seem to raise, coporate tax alway have a little cut here and there...



Inflation far too fast for employee pay to play catch up, it is alway ahead of the pay raise and guess the problem is where the "source" is example the monopoly of a businesses where they call the shot

... sigh... one word... siong!.

Answer 209

Also, the recent strengthening of the Singapore dollars has made exporting very difficult for companies that rely on export. On the other hand, it will not be good for employees with CPF accounts too if companies are forced to replace them with "levied" foreign workers or if these companies close down or relocate to a less costly location.

Answer 210

In the past few years, employees' CPF contribution rate was cut, and employees are drawing less money to CPF ordinary account to pay for housing installments. However, in contrast to this cut, the housing price keeps going up.

Answer 211

CERTAINLY! Employee has bear with the employer for the tough times and they should automatically reciprocate. Furthermore, employee also bear pay cut during economy downturn to battle with the company, employer should review restoring.

Answer 212

Why only urging employers to consider restoring their portion when during weak economic times they can cut in unison without further consultation?

Answer 213

Yes,

The Annual Wage Suplement as compulsary payment to the employess by all employers.

As of now Many employers does not pay AWS to the Employees.

Answer 214

Yes, definitely !!!



% Contribution should match with employee's contribution.

Answer 215

Yes. The reduced cpf available affects contributor's ability to pay housing loans which increased so much since the cuts were introduced.

Answer 216

CPF restored = LOWER basic

Answer 217

If the following can remain constant, then don't restore.



1. Price for Housing

2. Price for Food

3. Price for Utilities

4. Price for Town Council Fee

5. Price for Transportation incl. COE



Answer is simple.

Answer 218

I am an employer, a SME owner, I dont agreed, we suffer a big blow for last year till now. the government should understand better than anyone, if they wanted to increase no one can stop themi if they are not going to increase why must we talk about it?

Answer 219

true. employers should restore, but i guess employers would rather employ foreign workers as they are storming singapore if that happens..



we should not focus on employers contribution but what the goverment can do for us.



We need a change!!

Answer 220

Yes,it should. As for the employer I think they should have no objection because I feel government have helped them during the economic downturn. And when times is good our pay was not increased.

Answer 221

Of course it's a yes. The HDB prices keep increasing but not the people's salary and so on and blar blar blar.

20 years down the road, there maybe more people sleeping at the void deck more.

Answer 222

Absolutely! It would be a great help especially for those who dun hv enough in their CPF account to pay off home loan...

Answer 223

of course yes because when company in diffculties our gov cut the CPF to help them.

after the down turn, we should restore to where it should be as 20% each instead of we worker cut more than our company.

Answer 224

Yes. We need to return the sacrifices that the employees have done during the downturn.



The government can in return give tax incentives for employers who do so.

Answer 225

Do your think CPF contributions will restore. slowly slowly wait!

Answer 226

Yes, as we expects strong rebound;

Employer help?? Job Credit had been great bonus to employer.

Answer 227

During the bad time, Government prospose paid cut, here and that.... Many followed, even for those who make less profit also follow just like my company. IMMEDIATE ACTION after the announcement make by the Government. But when time is good they just keep silent, furthermore no increment. sigh......Rich become richer and Poor just be poor. Living standard go up but not paid. Who interest is protected ? You think would be us.......

Answer 228

Yes! It is time to restore it now ! When times are bad it wiil be used as a legitimate excuse not to restore but now it turns around why the wait?

Answer 229

Who doesn't need the extra money? If the employers can't handle it, the government can lower the GST rate. It will no doubt benefit the employers as well as everyone.

Answer 230

This is just a projection isn't it? What's the actual or real growth? Is it substainable? Don't make a big hoha after adjusting then the economy collapse again. How accurate are our projections? Projections for COEs, projections for HDB demand, projection for PUB electriciy prcing also not correct already.

Answer 231

Yes ! definitely, reduce corporate Tax and at the same times

also must consider release the special account monies into

ordinary account to pay off the high cost of housing.

Answer 232

Yes

Answer 233

YES i strongly agreed to tis increasement of our CPF,cause my boss did not done enough at our salery part & bouns,so mayb tis will make us better how ever we earn tis & Y they earn so much n

never think abt us whitch our salery is so low,

.

Answer 234

Yes, employers' CPF contributions should be restored to 20% and please also reduce our contributions to 14.5% so that our housing installments will not be affected and most importantly, we have more cash in our pocket. Ladies and gentlemen out there, please support my suggestion^_^

Answer 235

Yes should be increased to at least to 1:1

Answer 236

when they reduce, they also never ask you whether can reduce or not...they just do it....



when they want to restore, they ask you whether it should be increase?



if they really want to do it, then i will say restore back and pay us the interest of lost CPF during the last few years that we lost during weak ecnomoy....does that makes more sense ??

Answer 237

I think they should cos at least we'll have more CPF to buy a house.

Answer 238

Not at the moment. The fundamentals are weak. The Singapore Governement should not make such hasty decision.

Answer 239

I think.. we should go back to 20/20 contribution as what we had years back.. Times are back and we need this restored.

Answer 240

Definitely... With de strong economic fall & high rise on flat.. CPF's is always priority in our daylife.

Answer 241

why don't they take everything and put into cpf and let them control our spending? prices of everything increase but pay doesn't seems to increase the same way.

Answer 242

Yes. Employer should consider revise by 1% -1.5% point, capped at Ordinarly Salary @ S$4,500 remained.

Answer 243

why still more than >20K annual gotta pay income tax this rating since when start??? last 20year ago? last 20 years ago chicken rice only S$1.20 now how much? i m getting very hard to save money, can earn money but only for living but not saving, salary no proper increament also if lucky year end increment by S$50 if have every year. sad.. :(

Answer 244

Yes. Nothing else. After the economic crisis and restructing, we are doing more than 1 person's job. It had been a long time.

Answer 245

Yes.

If not now, when?

Aren't we out of the woods?

The Government should do the right thing now!

If not, we should show our displeasure in the next election.

Now is the time for the government to show whether they are pro-employer or pro-employees.

Answer 246

DEFINITELY YES ! Because the economy has improved and the bosses are making more money. All the employees have endured long enough for their company in darker times .

Answer 247

Of course it should be, they stopped it as soon as things got bad for the COMPANIES but now the people SUFFER and only talk. But this is the way things here work the rich get richer and poor just end up sucking on it till we die!

Answer 248

Yes, it should be restored. To provide more incentives for the employers.

Answer 249

it's time to up the salary.. waited so long with sum pain also..

no pain no gain..

if there is a pain then where is the gain?

n pls don't give the lame old excuses such as as long all are employed n the job is safe..

show us some $$$$...

at least a 3 digit increment will do...

Answer 250

Increase in Salary

Answer 251

That Will be great. The prices of medical and HDB prices are so high. It is better and will at lease help us with our bill. May be we can save some for our next generation to study too.

Answer 252

Why don't let the MNCs increase first and leave the SMEs alone for a longer while? We just got through a bad spell in 2009 and immediately you want us to cough out more to increase our overheads?? why?! why?! why?!

Answer 253

Yes defiantly, every company is making money and they should contribute employees benefit as part of it. As employee we took the cut when recession period and its now company's turn to pay back right.. I agree to this matter.

Answer 254

If you want to know the truth than we should asked the Government to increase their rebate to the singaporean than you know if the above question is truth full because i would like to know which sector of the "economic" is strong.

Answer 255

Its time for employers to restore CPF,Goverment have done their part with job credits scheme,so bosses pls lend a hand to needy employees.

Show us your sincerity and reward us in good times.

Answer 256

S'pore gov should consider how to let his people have more hard earn cash in return .

have u guys thought of what level is our living these days, even the malaysian earn,live better then us.

so many stuff we cant effort,.



spare a thought

Answer 257

No way! the fundamentals are still too weak. We will have to pay then bill pretty soon.

- Lower salary

- Lower bonus if any

- Higher property

I am for higher salary. Let manage our finance ourselfs

Answer 258

It's a MUST!



Else we might run out of bullets during the next recession or economic down turn.

Answer 259

Why should there be an increase?

Is it because the upcoming elections? The ruling party wants to get on the ppl's good book?



Just ensure inflations do not kill us.

Answer 260

yes definitely.. as the company always cutting the employee cost!! even our basic pays and little allowance they want to cut, so just a little contributions is a should.

Answer 261

Yes of course

Answer 262

Yes is it a great help if restore, it will help those low salary worker in house loan and medisave.

Answer 263

Yes of course. As employees we have all done our part to support the economy and country

Answer 264

Stop wasting time to discuss this sort of topic. To rise or cut is none of your business or choice. The only call is from PAP. You just work and shut up.

Answer 265

increase in salary. my pay is 750/mth so after cpf deduction how much will it be? is it enuf to pay bills n other needs?

Answer 266

Not yet to increase.



Need to monitor the singapore economy.

Nobody can tells that economy will continue be good.

Answer 267

Not this year. Some companies are still struggling to pay their business term loan with some banks. It will be a burden for them when they are still in negative growth.

Answer 268

Is there really a need to even have a discussion about this??? The gahment say down, it went down, then gahment say up, guess what's gonna happen... stop wasting precious time... damn! wasted 2 min on this.

Answer 269

I say yes increase it. Every time fuel prices inch higher our utility bill is increased too. It should be a two way street!

Answer 270

Yes. Ofcourse..

Answer 271

No. Instead of increase they should decrease as now all the things price gone up. We need cash. They should increase our salary.

Answer 272

Yes, it's time to revert back but I don't think there is fairness out there. Anyway we follow what the gov said....haha unless look at bangkok situation..

Answer 273

i am a baby boomer who lost my 15yr job to msian poly grads during my company's

restructuring. it's down to costs for a company's survival. so from experience it's a

straight no no from me. i am now doing a delivery driver's job and i do not want my

current company to run into high costs and i get the boot again. understand?

Answer 274

we will get a pay cut/CPF cut etc, whenever there is inflation, all prices will go up sky high, but the reverse never happens.. when the economy recovers and doing well, pay never gets restored/CPF never gets restored...and best thing is deflation never seems to bring down the prices of our daily necessities.

Answer 275

Yes, definitely need to increase.

Answer 276

Yes. It's only natural if the economy is back on track

Answer 277

No,I see lot of employer having problem struggling to survive in theirs business especially those in food business.I'm one of those employee, who is so worry that theirs business wind-up.

Answer 278

It should be increased gradually & proportionately if its not possible to completely restore it to 20%.

Answer 279

Yes. I think this is a fair game.

During recession, you cut shiftly.

As such you have to restore shiftly as well.

Answer 280

This is a stupid question.



Who does not want more money ?



even the garmen knows how to increase their pay for themselves.



What more should we then expect for oursevles..

Answer 281

sure. since the gov says island is back from recession employers should resume their contribution. also a hike in sal is appreciated. why the union chief missed to suggest a sal hike ?

Answer 282

YES, they should!!! Do it now and dun delay anymore.

While During recession, you cut shiftly.

As such you have to restore shiftly as well.

This is only fair game, you see !!!

Answer 283

yes,its time to restore the cut after so long,

Answer 284

yes employers should increase but not the employee's

Answer 285

Of course. That's go without saying and long over due.

Answer 286

Yes,

Answer 287

It should be restored!!!

Have to restored or else low income earners will have a harder time ahead!

Answer 288

Increase or not, where does the the actual cash flow into... not our own pocket definitely.

Worker bees are meant to work and work and work....

Answer 289

Does it matter to them? Even if we say yes but they will still say no. So guess no point of giving feedback or suggestion.

Answer 290

I think it is time for all private business to 'close shop' and work for the government.

Answer 291

yes,should be restoring back to 20%.

Answer 292

No good time - cut immediately

Good time - delay, consider, wait long long

so sian

Answer 293

We want higher pay, not collection of money by the government.

Answer 294

when the economy recovers and doing well, pay never gets restored/CPF never gets restored...and best thing is deflation never seems to bring down the prices of our daily necessities.

Answer 295

Do you think every employer will do that ? In your dream yes !!!!

Can't wait to reach 55 ..LOLx !!

Answer 296

Yes it shld installed. My hubby is self employed and I am struggling to pay our mthly installment.

Answer 297

The call shall be fm d government, not me, u or d employers.

remember...in sg....everyting is control by d government

Answer 298

Why so many people bother to answer this question?

Do you thing what we say have any impact on the situation?



If "they" want to do, "they" will do... no need to ask this type of question.

"They" call the shot, not us.

Answer 299

Agreed. This is the least that can be done for Singaporeans, for their patience and hard work throughout the hard times faced by all. Yes please reward us.

Answer 300

Able to help new couple for an affortable HDB.

Answer 301

what for ?

i only can take mine out after 65 yrs old

and i b bury before then

Answer 302

yes for younger generation as for older citizens stay as usual.

Answer 303

Yes!Strongly Agree!We wait long long time already!

Answer 304

YES ! its time for it to be restored !

Answer 305

Of course it should be restored.

Answer 306

yes

Answer 307

yes

Answer 308

yes

Answer 309

yes

Answer 310

yes

Answer 311

yes

Answer 312

Thats good ideas.

Answer 313

Yes of course , it about time they do so.

Answer 314

我觉的应该要快点恢复CPF 缴交率16-20%。其实不是每间公司都面对经济困难，恢复多交几%对老板来说根本没有什么影响的。

Answer 315

Definitely! It is really about time!

Answer 316

wishful thinking

Answer 317

Yes they should!

Answer 318

Of course! That has been promised way back...

Answer 319

yes yes yes yes yes they should. as alot of companies are making big $$$$$.

Answer 320

Absolutely! 100% Agreed. Thanks for posting this question.

We should share our wealth together, be it the good or bad times.

It takes 2 hands to clap. Bravo............................

Answer 321

Yes, ASAP

Answer 322

of course, it is ours in the first place.

Answer 323

yes, of course.

Answer 324

yes must contibutions

Answer 325

definitely

Answer 326

increase pay better.

Answer 327

undoubtedly yes!

Answer 328

of course yes...

Answer 329

definitely!

Answer 330

RAISED BOTH HANDS

Answer 331

YES!

Answer 332

Yes, definitely! Please do not forget those workers 50 and above....

Answer 333

yes. pls do it.

Answer 334

of course...

Answer 335

Duh! Hell YES ~