Made a mistake by topping up CPF earlier of the year. What happens if CPF contribution from employee in coming months might lead to an exceeding of annual contribution cap? - Seedly
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Anonymous

Asked on 23 Jul 2020

Made a mistake by topping up CPF earlier of the year. What happens if CPF contribution from employee in coming months might lead to an exceeding of annual contribution cap?

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Shaun WQ Lim
Level 8. Wizard
Answered on 23 Jul 2020

CPF Board will send you a letter saying that you have made excess voluntary contributions above the Annual Limit. Amount will be refunded to your bank account. The interest in your CPF account will be adjusted(deducted).

Most likely will happen in Feb next year.

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Thank You!
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