A bonus CPF year review should distinguish the performance period from when the bonus became due and payable. A label such as previous-year bonus is not a complete contribution instruction. Keep the employment terms, award decision and payroll timeline together before the reviewer calculates the contribution position.

Accounting records, calculator and glasses on a desk
Illustrative photograph by Cht Gsml.

Identify what was promised

Record the employee, relevant performance period and whether the terms establish an entitlement or leave an award subject to a later decision. Keep approvals and correspondence in restricted payroll storage.

Record when the bonus became due and payable and when it was actually paid. Do not change those dates simply to align with a convenient payroll year.

Use the applicable contribution basis

CPF Board’s Additional Wage ceiling examples link the applicable year’s ceiling to when the bonus is due and payable, including a previous-year bonus payable in the following year. The performance label alone does not decide the year.

Give the reviewer the relevant Ordinary Wages, other Additional Wages and employment history needed for the calculation. Do not reuse an earlier estimate without checking the current facts and any required reconciliation.

Example: December performance, January entitlement

A payment concerns work performed through December, but the terms and approval establish when it becomes payable. Provide the actual documents rather than assuming the bank payment date or the performance year always controls. An amount already due but paid late requires a different timing enquiry.

Keep the reviewed result traceable

Link the accepted classification and year to the contribution workings and payroll entry. Keep any adjustment questions open until reviewed. This guide prepares the evidence; it does not calculate an employee’s ceiling, determine contractual entitlement or authorise a change to an earlier CPF submission.

Related practical guidance

For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.

Official guidance: CPF Board official guidance.

Help with your company records

For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.