Increase in CPF Contributions

Good news for our parents' generation. To help them with their retirement funds in CPF:

Increase in CPF Contribution Rates for Older Workers CPF contribution rates for workers aged above 50 to 65 years have been increased to help them better prepare for retirement. These new contribution rates will apply to wages earned from 1 September 2012.

Age Group	New CPF contribution rates1 (in % of wage) from 1 September 2012Increases from current rates are in brackets			New CPF allocation rates1 (in % of wage) from 1 September 2012Increases from current rates are in brackets
	Employer	Employee	Total	Ordinary Account	Special Account	Medisave Account
> 50 - 55	14% (+2.0%)	18.5% (+0.5%)	32.5% (+2.5%)	13.5% (+0.5%)	9.5% (+1.5%)	9.5% (+0.5%)
> 55 - 60	10.5% (+1.5%)	13% (+0.5%)	23.5% (+2.0%)	12% (+0.5%)	2% (+1.0%)	9.5% (+0.5%)
> 60 - 65	7% (+0.5%)	7.5% -	14.5% (+0.5%)	3.5% -	1.5% (+0.5%)	9.5% -

¹ For monthly wages ≥ $1,500
The full set of CPF contribution rates is available at the CPF website.

** Other news: I've been horribly busy!! jave just recieved a list of "orphaned clients". SO i've been diligently seeking them out to re-acquaint them with their portfolios.

OMG one of them MIGRATED to India leaving behind only his address of his tenant. the listed house number wasn't even in service! have managed to track him down by going down to visit his place, get the number of his daughter from the tenant then mailing him at his email address. but it's a pity that only due to his old agent leaving that we found out about this.

keeping ties,
Jessica