More than 360,000 people in Singapore had their Central Provident Fund (CPF) savings put in order last year after arrears by their employers were settled.
The CPF Board recovered about $516.0 million in CPF arrears owed to them by their employers in 2015, said the board in a statement today (June 1).
The arrears were due to underpayment, non-payment and late payment of CPF contributions by employers.
About $15.2 million were recovered from cases of underpayment or non-payment by 1,840 employers for the accounts of 14,708 people.
One interesting case saw the board recovering about $2 million in CPF arrears over eight years for 70 drivers working for a logistics company.
It came to light after a driver complained to the board It then found that the company had wrongly classified its drivers under a contract for service, and hence did not pay them CPF contributions.
About $500.8 million recovered were late CPF contributions from an average of about 5,600 employers each month in 2015.
Most of the late payments were settled within a month.
The CPF Board group director of Employer Collections and Enforcement Mr Ng Hock Keong said: “To facilitate the timely payment of CPF contributions, we are constantly improving the payment process for employers. More than eight in 10 employers are submitting their contributions to us electronically.”
Close to 90 per cent of them use CPF e-Submit@web, which auto-computes the CPF contributions. The recently introduced CPF e-Submit@mobile enables employers of small companies to submit their CPF contributions via their mobile devices.
The board piloted CPF e-Submit@mobile in the Google Play Store in end-January 2016. The application was made available in the Apple App Store in April 2016.
It allows employers with 10 or fewer employees to submit their CPF contributions via their mobile devices, with secure payment options via e-NETS or OCBC ATMs.
chenj@sph.com.sg
