Central Provident Fund

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CPF building, headquarters of the CPF Board.

The Central Provident Fund (CPF) is a state social security savings plan from Singapore launched on July 1, 1955 . The aim of the fund is to secure the old-age provision of employees in Singapore.

For general pension schemes, contributions amounting to 40 percent of gross CPF income must be paid.

There are three accounts per insured person in the CPF:

  • 30 percent is paid into a “normal” pension account
  • 4 percentage points in a retirement fund
  • 6 percentage points are applied to health care.

With increasing age, the contributions are reduced to a total of 10%. Payments into the pension fund are only due up to the age of 55 years.

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