This blog post involves CPF talk. To spare you the agony, if you are not keen on the topic, do not read any further! I have no interest in arguing, convincing, or justifying anyone or anything here.
CPF And Its Role
Central Provident Fund (CPF) is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs. The CPF is an employment-based savings scheme with employers and employees contributing a mandated amount to the Fund.
CPF is split into three separate accounts, each with its intended use and purpose.
- Ordinary Account (OA) – for housing, pay for CPF insurance, investment and education.
- Medisave Account (MA) – for hospitalization and approved medical insurance.
- Special Account (SA) – for old age and (strongly recommend not to use for) investment in retirement-related financial products.
The OA and SA is combined to form ...
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