Major CPF policy shift on the way

[WolfT]

Just to check something on the new CPF $6000 ceiling. The news said about 554,000 middle-income earner will benefit. I thought those who earns >$5000 will benefit. Also effectively, the increase is $170 (max) which comes from employer's contribution. The $200 (max) is a transfer from your cash to CPF.

Based on a employed resident of 2.056mil in 2014, if I assumed that 554k workers sat in the middle band, then about about 1.3mil workers earns more than $5000. Assuming a simple 12-month (ie I excluded mid- and end-year bonus, etc), then is CPF collecting about an extra $5.8bil (=1.3*370*12) every year upfront?

Is my sum right?

554,000 will benefit means only 554k earns more than 5k,not 1.3mil.
You also need to consider the differences % of different age group in contribution.
about 3bil extra ba.