If you are a working citizen or a working permanent resident of Singapore you must save in the cpf investment singapore. The CPF plays a key role in keeping your retirement goals alive. The CPF is saved by the contributions of the employees and the employers.
The accounts where CPF can be saved
The CPF can be saved in three accounts:
- Ordinary account
- Special account
- Medisave account
When you turn 55 years of age your savings from a special account and ordinary account will be transferred to your retirement account. To help you plan your basic retirement sum will be made known to you.
The things you need to know about your central provident fund or CPF
If you are a working-class citizen of Singapore here are a few things you should know about CPF investment in Singapore:
- All working-class citizens and permanent residents must save in CPF
- it is the key factor of the Singapore social security system
- it helps in meeting retirement needs, housing needs, and health care
- government helps lower-class workers with Medisave top-ups and supplementing CPF savings
- the employer and employee must contribute to your retirement saving in CPF
- there are three accounts where you can save in CPF
- it is a great way to achieve your retirement goals
with all these opportunities available you can make your retirement dreams come alive and live a prosperous life without depending on anyone.