Central Provident Fund

The Singapore Central Provident Fund (CPF) is a compulsory savings plan created in 1955 for working Singaporeans and permanent residents (PR) 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 (MOM).

Singaporeans were required from 1987 to set aside a portion of their income to their CPF until the age of 55 to provide them with a basic monthly income when they retire. At age 55, the CPF savings may be withdrawn after setting aside the CPF minimum sum. The CPF minimum sum may be used to purchase life annuity from a participating insurance company, placed with a participating bank or left in the retirement account with the CPF Board.

[embedplusvideo height="365" width="450" standard="http://www.youtube.com/v/ElKCso_muLs?fs=1" vars="ytid=ElKCso_muLs&width=450&height=365&start=&stop=&rs=w&hd=0&autoplay=0&react=1&chapters=&notes=" id="ep8723" /]


From 62 (current draw-down age), monthly payments shall be given from the CPF Minimum Sum to help meet basic needs in retirement. If life annuity had been purchased, a monthly income for life shall be given. If the CPF minimum sum is left with a participating bank or with CPF Board, monthly income shall be given till the CPF minimum sum is exhausted. Monthly payouts may be started later; it is beneficial in that way since payouts will last longer. For example, if the payouts were started at age 63 instead of 62, they can last till age 84 instead of 82.

2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 1986 1985 1984 1983 1982 1981 1980 1979 1978 1977 1976 1975 1974 1973 1972 1971 1970 1969 1968 1967 1966 1965 1964 1963 1962 1961 1960 1959 1958 1957 1956 1955 1954 1953 1952 1951 1950 1949 1948 1947 1946 1945 1942 1940 1939 1937 1936 1935 1933 1932 1931 1930 1929 1928 1924 1923 1922 1920 1919 1913 1911 1910 1909 1906 1905 1901 All