EPF is divided into Class A, Class B and Class C. What are they?

The Campus Provident Fund System has three types of comprehensive social security plans:

A. Type A Comprehensive Social Security Plan (referred to as Type A Plan): The total contribution ratio is 44.2%, which includes six types of social security programs such as the basic pension, medical care, unemployment, work injury, maternity insurance and housing security for the employees.

B. Class Comprehensive Social Security Plan (referred to as Class B Plan): the total contribution ratio is 36.2%, including five types of social security programs such as employees' basic pension, medical care, unemployment, work injury and maternity.

C. Class C Comprehensive Social Security Plan (referred to as Class C Plan): the total contribution rate is 28.2%, including four types of social security programs for employees' basic pension, unemployment, work injury, and hospitalization medical treatment for major diseases.

Scope of application of various types of comprehensive social security plans

The scope of application of the three types of comprehensive social security plans of the Park's provident fund, namely, A, B and C, is as follows: (1) A type of plan is mainly applicable to all the employers in the Park's Sino-Singaporean Cooperative Development Zone (CSCDZ) and the employees who have formed a labor relationship with them; various types of employers outside the CSCDZ may choose to participate.

(2) Type B Plan is mainly applicable to all types of employers and employees who have formed labor relations with them outside the Sino-Singapore Cooperation Development Zone. Various types of employers within the Sino-Singapore Cooperation Development Zone may choose to participate upon application by the unit, review by the Park's Provident Fund Management Center and approval by the Park's Provident Fund Administrative Department.

(3) Category C plan is mainly applicable to private enterprises, self-employed businessmen and their employees and self-employed persons outside the Sino-Singapore Cooperation Development Zone in the Park. Similar enterprises and personnel within the Sino-Singapore Cooperation Development Zone, and other enterprises and personnel may choose to participate after going through the approval procedures stipulated in the above paragraph.

Provident Fund Contribution Rates

In addition to the employer's uniform contribution of 0.2% of the monthly contribution base for all employees to the Provident Fund Workers' Compensation Insurance, the employer shall, according to the type of participation in the Comprehensive Provident Fund Social Security Scheme, respectively, contribute to the Provident Fund with the employees*** at the rates stipulated in the following table:

Table 1. Table of Contribution Rates for Provident Fund Classification of the Comprehensive Provident Fund Social Security Scheme Rate of Contribution Total Rate of Contribution <

Employer Employee

Class A Scheme 22.2% 22% 44.2%

Class B Scheme 18.2% 18% 36.2%

Class C Scheme 14.2% 14% 28.2%

Entitlement Ratios to Provident Fund

The EPF is divided into different types of Social Security Schemes and age groups. They are as follows:

Table 2: Crediting Ratios for Type A Schemes Age (years) Individual Accounts Public **** Co-ordinated Accounts

Pension Accounts Medical Accounts Ordinary Accounts Social Co-ordination Major Diseases (Including Maternity) Co-ordination

35 and Below 2% 2% 36% 2.5% 1.5%

35 and Above 45 2% 3% 35% 2.5% 1.5%

Above 45 2% 3% 35% 2.5% 1.5%

Above 45 2% 2% 3% 35% 2.5% 1.5% <

Above 45 2% 4% 34% 2.5% 1.5% Table 3: Crediting Ratio of Plan B Age (years) Individual Account Public*** Co-ordinated Account

Pension Account Medical Account Special Account Social Co-ordination Major Diseases (including Maternity) Co-ordination

35 and Below 11% 2.5% 16% 4% 2.5%

35 and Above 45 11% 3% 15.5% 4% 2.5%

Above 45 11% 3.5% 15% 4% 2.5% Table 4:Percentage of Credits for Category C Schemes Individual Accounts Public **** Co-ordinated Accounts

Pension Accounts Special Accounts Social Co-ordination Major Diseases Co-ordination

8% 14% 4% 2%

Provident Fund Minimum Deposit

Provident Fund When a member reaches the statutory retirement age, he/she is required to set aside the required minimum deposit in his/her CPF Pension Special Account and Medical Special Account before he/she is entitled to the basic pension entitlement and basic medical insurance entitlement after retirement according to the regulations.