Singaporeans have always been told by the government that we pay one of the lowest taxes in the world. But do you know what we have not been told?
Do you know that when comparing what we pay into our CPF with what people in other countries pay into their forms of social security, Singapore actually has the highest total contribution rate (employee 20% + employer 16% contribution rate) in the world (Chart 1)!
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Lim Swee Say hopes there is still money in our CPF
