@GuestContributors wrote:
This article is a guest contribution from our friends over at Investment Stab
CPF, in short for Central Provident Fund, is a “social security system that enables working Singapore Citizens and Permanent Residents to set aside funds for retirement. It also addresses healthcare, homeownership, family protection and asset enhancement.”.
Source: https://www.cpf.gov.sg/Members/AboutUs/about-us-info/cpf-overview
This is quoted from the CPF website and as defined by CPF. While most people would think that CPF is only for old people, youngsters should definitely not neglect it. This is especially true due to the magic of compounding interest. So what are the schemes that people in their 20s should know?
CPF Schemes All Young Adults Should Know About 1. CPF Education SchemeThis scheme allows you to use your Ordinary Account (OA) savings to pay for your own, children’s or spouse’s subsidised tuition fees. Applications can
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