CPF freezes contributions

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SINGAPORE - The CPF's decision to freeze employer pension contributions will help companies get through the current downturn in the economy and help them to reduce retrenchment of labour, according to consultants William M Mercer.

According to the firm, the move means that employers can reduce their budgeted wage costs for the year 2002. But employee contributions remain unchanged at 20%. The CPF restoration has been del...

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