THIRD SCHEDULE
Sections 49(1) and (2) and 72
Fare adjustment formula
  The fare adjustment formula is 0.5 cCPI + 0.4 WI + 0.1 EI − 0.1% + 1.1%, where —
(a)cCPI is the change in Core Consumer Price Index between year 2023 and its previous year;
[S 629/2023 wef 13/09/2023]
[S 690/2024 wef 04/09/2024]
(b)WI is the change in National Average Monthly Earnings between year 2023 and its previous year, adjusted to account for any change in the employer’s Central Provident Fund contribution rate as specified in the Central Provident Fund Act 1953; and
[S 629/2023 wef 13/09/2023]
[S 690/2024 wef 04/09/2024]
(c)EI is the change in Energy Index for electricity and fuel between year 2023 and its previous year.
[S 629/2023 wef 13/09/2023]
[S 690/2024 wef 04/09/2024]
[S 629/2023 wef 13/09/2023]
[S 798/2022 wef 10/10/2022]