Personal Finance
CPF in simple terms
By SimplyJesMe  •  January 19, 2016
What is CPF? A retirement fund that all Singaporeans and PR have to contribute every month so that you will not be a burden to society when you are old.
The dream is to still be healthy
What is in the CPF? OA - Ordinary account - For education, housing, investment purpose MA - Medishield account - For hospital bills SA - Special account - For retirement Can I withdraw when I immigrate or denounce my citizenship? Yes you can withdraw even if you are below 55 years old but only if you are not relocating to West Malaysia. If you are going to stay in Johor, Penang, KL (West Malaysia) you can only withdraw at 55 years old. How much do I have to contribute every month? 17% if you are below 50 years old, 20% for employers. For others, check this table. Up to $5000 of your salary contributes to CPF......
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By SimplyJesMe
I am Jes, a co-founder of SnackFirst, which serves happiness in the form of tasty snacks with free delivery. My adventures on starting this business is all under #SnackFirst. I used to #Travel overseas for work frequently but this made me so tired of the corporate world #SimplySalesTalk. So I left my $100,000 job to start my business venture. I still love to plan my own travels and if possible, drive and explore on my own even in foreign countries #YOLO!
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