Once the CPF contribution limit of $37,740 is reached for the year (employee + employer contributions combined), both you and your employer can still continue to make CPF contributions for the rest of the year. However,** If the total mandatory CPF contributions and voluntary top-ups exceed the CPF Annual Limit in the calendar year, any excess voluntary top-ups will be refunded without interest in the following year**.
Contributions will restart at the beginning of the next calendar year, and the limit resets annually.
As the Mandatory Contribution for December can be paid by January of the following year, any excess VC top-ups made for the preceding year can only be finalized and refunded in the following year. So the excess is usually paid after the month of January.
If your mandatory and voluntary CPF contributions have exceeded the CPF Annual Limit during the year, you can write to CPF to request for refund of the excess voluntary top-ups.
Once the CPF contribution limit of $37,740 is reached for the year (employee + employer contributions combined), both you and your employer can still continue to make CPF contributions for the rest of the year. However,** If the total mandatory CPF contributions and voluntary top-ups exceed the CPF Annual Limit in the calendar year, any excess voluntary top-ups will be refunded without interest in the following year**.
Contributions will restart at the beginning of the next calendar year, and the limit resets annually.
As the Mandatory Contribution for December can be paid by January of the following year, any excess VC top-ups made for the preceding year can only be finalized and refunded in the following year. So the excess is usually paid after the month of January.
If your mandatory and voluntary CPF contributions have exceeded the CPF Annual Limit during the year, you can write to CPF to request for refund of the excess voluntary top-ups.