Personal Finance
3 CPF schemes young adults should know about
By WhatCard Blog  •  January 8, 2020

@GuestContributors wrote:

This article is a guest contribution from our friends over at Investment Stab

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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 Scheme

This 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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By WhatCard Blog
WhatCard was created by a group of credit card and personal finance enthusiasts with a simple mission - how can we build something that will help each person get the most value out of their credit card spending.
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