GPSGP: Global Payroll Singapore Legislative Changes for Tax Year 2021-2022
(Doc ID 2750532.1)
Last updated on NOVEMBER 30, 2021
Applies to:PeopleSoft Enterprise HCM Global Payroll Singapore - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
The intent of this document is to describe solutions for problems or questions related to Global Payroll Singapore Legislative Changes 2021-2022. This solution applies to customers on PeopleSoft Release 9.2. This is a living document and will be updated as new solutions are created. Please review thoroughly on a regular basis.
(Last updated 30th Nov 2021) Summary Table - see below for details:
|Legislative Change||Effective Date||Additional Info||P1 Patch Fix Target Date||Targeted into Pum|
|CPF File Spec Updates||Jan 2022||
CPF Board have updated the file specifications of CPF E-submission. The changes are
Release 9.2: <Bug 32475898>
|PUM Image 40|
|CHANGES CPF CONTRIBUTION RATE FOR SENIOR CITIZEN WORKERS||Jan 2022||
The new CPF contribution rates raised gradually for Singaporean and Permanent resident workers aged above 55 to 70 years. The first increase is effective 01 Jan 2022
The Current rates
<=55 age = Current is 37% no change for 01 Jan 2021
>55 to 60 Current rate is 26% new rate is 28%
>60 - 65 Current rate is 16.5% New rate is 18.5%
>65 -70 Current rate is 12.5% new rate is 16.5%
>70 Current rate 12.5% and no change in Jan 2021
Release 9.2: <Bug 33107497>
|PUM Image 40|
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