This section will explain the tips for maximising your CPF as well as some questions you might have regarding it.
We hope that this can help you better understand the schemes and better utilise it for your betterment.
Background: CPF is a compulsory retirement fund set up by the Singapore government for Singaporeans and Singapore Permanent Residents.
Each month, the employee will contribute a portion of their wage into this fund. Their employer will also contribute extra wage into their employee's CPF.
The contribution will be split into 3portion: Ordinary Account (OA, for buying a house or funding of children's education), Special Account (SA, our retirement fund), Medisave Account (MA, funds used for medical purposes like hospitalisation and certain outpatient treatment).
The funds earn interests and are fully backed by the government's good faith.
We are also in the progress of developing a CPF-related application for iOS & Android operating system.
It includes several calculators such as "minimum sum calculator" and other functions that we think will be useful to our readers.
We are still working on improving the application and on the funding issues.
Do give us your suggestion as to what you would like to see in our application - what other functions would you like to see it have, what calculators, what data, what information etc.