This is the information we currently have available and we'll try to keep it up to date with any further changes.
FNPF rate change
When your payday falls on or after 1 April, please make the following changes in your payroll:
- Settings..FNPF: change both rates to 5%, then use the Tool options to push the rates changes out to all staff, or if it applies to some but not others...
- Each employee..FNPF: change both rates to 5%
Please do NOT make the changes for paydays earlier than 1 April 2020.
March 2021: The supplementary budget announcement in July 2020 extended the 5% rates a further 12 months until 31 December 2021 (available below).
When your first payday in January 2022 occurs you will need to change the rates back to 8% for employees and 10% for employers unless further budget announcements extend or change the rates.