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Employer's CPF Contribution to be 16% in 2007?
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billywows
Elite |
18-Dec-2006 22:55
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Oops ..... Here's the news: ----------- SINGAPORE : Incumbent labour chief Lim Boon Heng has said that employers' contribution to CPF would be raised by 3 percentage points to 16 percent at most. Mr Lim was speaking to reporters on Monday after visiting the Red Cross Home for the Disabled. Visiting some 80 residents at the Home, he spread the spirit of giving by handing out red packets. And when it comes to employers contributing more to workers' CPF, he said the restoration should not be rushed. In 2003, long-term target contribution rates from both employer and employee were set at 30 to 36 percent for those below 50, and between 24 and 30 percent for those between 50 and 55 years old. Currently, employers pay 13 percent to workers' CPF, while employees pay 20 percent. Mr Lim said, "We should do this gradually, so we shouldn't ask the employers to straight away raise it to 16 percent but maybe somewhere in between. The timeline would depend on whether we get consensus and support from the employers and whether we also get support from the government." After touring the Home, Mr Lim also reminded Singaporeans about the need to forge community bonding with the less fortunate during the holidays. He said, "I hope that since we talk about an inclusive society, Singaporeans would consider all their neighbours as part of the same family. So if they're suffering from many disadvantages, then those of us who are better off should help the family. "The spirit of giving and sharing is something we should not take for granted, it's something we have to remind the younger generation of...in the old days we had the Kampong Spirit, now today, in the modern Kampong, we must devise our own way of maintaining that particular spirit." In the spirit of giving, over 60 union volunteers painted the doors and grilles for the Home earlier this month. The unions also contributed about S$14,000 worth of gifts including wheelchairs and bedsheets. And a small gesture goes a long way, especially during this festive period. Fauziah Jabil, Administrator, Red Cross Home for the Disabled, said, "With this festive season coming on, they'd feel very happy that they're not forgotten and they can also enjoy this festive mood." The visit is part the labour movement's "We Care and We Share" annual project, which was launched four years ago to help the needy. - CNA/ms |
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