CPF board recovers $516m in arrears from errant employers in 2015

Over 360,000 workers benefitted.

The CPF Board (CPFB) has recovered about $516 million in CPF arrears in 2015. The CPF arrears recovered were from underpayment, non-payment and late payment of CPF contributions by employers.

Bulk of the recovered arrears were due to late payment by employers. CPF recovered $500.8 million in late payments from around 5,600 employers each month last year, which benefitted over 353,000 workers.

Meanwhile, $15.2 million were from cases of underpayment or non-payment which the CPFB had recovered from 1,840 employers. This benefitted 14,708 employees.

One of these cases, which had one of the highest amount of CPF arrears recovered, was uncovered through a complaint on non-payment of CPF contributions lodged by a driver from a logistics company.

The CPF Board urged employers to submit their CPF contributions electronically to facilitate timely payment.