CPF Board recovered $378.2m in unpaid CPF contributions from employers in 2014

It will benefit over 280,000 employees.

The Central Provident Fund Board has recovered $378.2m of unpaid, underpaid and late CPF arrears from over 6,300 employers in 2014.

The CPFB stated that it recouped $14m for cases of underpayment or non-payment which the CPFB had recovered from close to 2,000 employers in industries such as security, cleaning and food & beverage, which benefited over 9,300 empoyees.

The remaining $364.2m recovered came from an average of 4,300 employers who were late in making CPF contributions each month in 2014.

In comparison, the CPFB recovered about $420min CPF arrears in 2013 and $293m in 2012.

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