Breakdown of CPF Members and Active CPF Members Earning Extra 1% on First $60,000 of CPF Combined Balances

Mr Chua Kheng Wee Louis asked the Minister for Manpower for each year over the past 10 years, what is the number and percentage of (i) CPF members and (ii) active CPF members who are earning an extra 1% on the first $60,000 of their CPF combined balances that forms the entire sum of their CPF monies.

Dr Tan See Leng: Members’ Central Provident Fund (CPF) balances have grown over the past 10 years. From 2015 to 2024, the number and proportion of active 1 CPF members 2 who have at least $60,000 of combined CPF balances 3 and received the maximum extra interest amount have increased from 1.1 million to 1.6 million, or from 54% to 74%. The corresponding number and proportion for all CPF members 2 have increased from 1.3 million to 2.2 million, or from 40% to 52%.

Note(s) to Question No(s) 23:

1 An active CPF member refers to a person who has at least one contribution paid for him for the current or any of the preceding three months. The figures exclude the self-employed who are not employees concurrently.

2 Singapore Citizens and Permanent Residents.

3 Capped at $20,000 for the Ordinary Account.