For the uninitiated, this comprehensive CPF guide was created especially for you!
All About CPF What Is Central Provident Fund (CPF)?
CPF, short for Central Provident Fund, is a social security system that helps Singaporeans set aside savings for retirement.
CPF savings can also be used for housing, healthcare, insurance as well as certain investments. Both employers and employees make monthly CPF contributions.
What Can CPF Be Used For?
CPF contributions go into three accounts.
Ordinary Account (OA): For housing, insurance, investment and education Special Account (SA): For retirement income and retirement-related investments Medisave (MA): For hospitalisation expenses, approved outpatient medical care, and approved medical insurance