Central Provident Fund

Central Provident Fund (CPF) is a statutory savings plan for working Singaporeans and permanent residents primarily to fund their retirement needs. The CPF is an employment based savings plan with employers and employees contributing a mandated amount to the Fund.


All active and full-time employees holding Singapore citizenship and permanent residents will be allowed to participate in CPF contributions. This plan does not apply to Foreign Nationals.


You will be automatically enrolled in Central Provident Fund upon joining VMware.


Contribution percentages are updated from time to time by the Singapore Government. Updated CPF percentages can be viewed online at the CPF website. Refer to CPF website for latest updates. Both VMware employees and VMware are required to contribute a percentage of covered earnings (Basic+ Bonus/commission+ Variable pay up to certain limits) based on an age-related scale:


Age VMware Contribution Employee Contribution
55 and below 17 % 20 %
Above 55 to 60 13 % 13 %
Above 60 to 65 9 % 7.50 %
Above 65 7.50 % 5 %

Normal Retirement Benefits

An additional Retirement Account will be set up automatically when you reach the age of 55. This account reserves a Minimum Sum until the statutory retirement age.

You may set aside the CPF Minimum Sum fully in cash or pledge property up to 50% of the Minimum Sum. Married couples can opt for a combined minimum sum, which is one and one-half times that for individuals.

The cash component of the Minimum Sum must be invested in one of the following three options to provide a monthly income from the legislated retirement age:

  • Lifetime annuity from an approved insurance company
  • Deposit with an approved bank
  • Left with the CPF in the Retirement Account

If the minimum sum is deposited with a bank or left with the CPF, a regular monthly income (calculated on a predetermined basis) will be paid, until the deposit is exhausted. At age 65, your CPF Minimum Sum monthly payment (annuity) will start.

Death Benefits

Sums standing in the member’s Ordinary, Special and Medisave accounts will be distributed to the nominated beneficiaries upon death.

Disability Benefits

Sums standing in the member’s Ordinary and Special account will be payable to the member upon total permanent disability.

When Coverage Begins

Coverage will automatically commence on the first day of your employment at VMware, if you are eligible.

When Coverage Ends

Coverage ceases on the end of your last day of service with VMware.

Contact Us

Contact HR Source [VMware network access required]
ASK HR [VMware network access required]
Phone: (+65) 65011510

Central Provident Fund
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Last Updated: 15 Sep 2021, 8:13 AM