Central Provident Fund

In Singapore the Central Provident Fund (Abbreviation: CPF; Chinese: 公积金, Pinyin: Gōngjījīn) is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs. It is administered by the Central Provident Fund Board, a statutory board under the Ministry of Manpower. The CPF was started on 1 July 1955.

Read more about Central Provident FundHistory of CPF, Critics

Other articles related to "central provident fund, provident fund, provident":

Central Provident Fund - Critics
... of CPF, the inadequacies of various short term schemes Minimum Sum, Annuities, puny provident fund interest and soaring medical costs will produce significant problems for a rapidly aging Singaporean society ... High-income and affluent middle class usually depend less on savings component of the provident savings account ... An opportunity cost is realised if their provident fund savings are not invested in higher yielding professionally managed instruments or business ...

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