I have to say I wasn’t really “CPF Savvy” when I was younger. Back then, in my mind, I was just treating CPF as a housing fund. This is because I only know I can use my CPF Ordinary Account (OA) for housing and I don’t even know or bother to find out what my Special Account (SA) and Medisave Account (MA) are for. In fact, I don’t really bother how much is in my SA or MA as in my head they are “locked up” and not really “my money” until I’m 65.

It wasn’t until when I was around 35 years old, as I became more financially aware, that I begin to pay more attention to my CPF savings in the 3 accounts. I started to read and find out what is Full Retirement Sum (FRS), Basic Healthcare Sum (BHS), what they meant to the various CPF accounts and how I can make use of my CPF for tax savings