The Fund wishes to advise the public that Parliament has passed the National Provident Fund Amendment Act 2019 increasing the minimum member and employer contribution rate that is currently set at 7% as follows:
Incremental Increase of 1% per annum | Employee Minimum Contribution | Employer Minimum Contribution |
Current | 7% | 7% |
1 st July 2019 | 8% | 8% |
1 st July 2020 | 9% | 9% |
1 st July 2021 | 10% | 10% |