[BUDGET 2014 UPDATE] Employers and employees, take note! Employer contribution rates to the Medisave Account will go up by 1 percentage point for all workers to help Singaporeans save more for their future healthcare expenses. To help older workers meet their retirement needs, employer contribution rates for those between 50 and 65 years old will also go up by an additional 0.5 to 1 percentage point, while employee contribution rates for those between 50 and 55 years old will go up by an additional 0.5 percentage points (see table below). 
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