What Is CPF?
Young or old, CPF is important to you as it concerns your pay contributions and future benefits.
Firstly, a quick lookup on CPF will lead you to the definition that The Central Provident Fund (CPF) is a comprehensive social security savings plan implemented by the government, compulsory for all Singaporeans.
In short, CPF is implemented to ensure that Singaporeans save up the important things — retirement, housing, and healthcare. Let’s face it, way more Singaporeans believe that they are disciplined enough to save up for retirement, but not many actually manage to do so.
The allocation of CPF is not that difficult to understand, despite the chunk of information presented to you on the CPF website. In fact, all your contributions and the allocation rates of …