Govt aware of business cost of hiking CPF rates

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The Government is aware of business cost pressures posed by an upcoming hike in Central Provident Fund (CPF) contribution rates for older workers, as well as a rise in the retirement and re-employment ages, said Trade and Industry Minister Chan Chun Sing yesterday. But he...

The Government is aware of business cost pressures posed by an upcoming hike in Central Provident Fund contribution rates for older workers, as well as a rise in the retirement and re-employment ages, said Trade and Industry Minister Chan Chun Sing yesterday.

Speaking on the sidelines of a visit to wholesale distributor Hai Sia Seafood, he added that consultations are ongoing with business partners to understand their challenges, both on business costs and in the larger external environment.

 

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