As part of the measures that were designed to spur the transformation of Singapore’s economy, inclusive and sustainable growth, and higher wages for Singaporeans, the Singapore Government in Budget 2013 announced few amendments with respect to CPF contribution rates for low wage workers, foreign worker levies & dependency ratio ceilings for marine and services sectors. These statutory changes has various effective dates starting from July 2013 until July 2015.
Our Position Statement has been revised to include these legislative updates and the delivery timelines for the respective changes. We advise customers to review our position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 1541852.1"