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......