Investopedia

Continue to Site »

Central Provident Fund - CPF

Filed Under »
Dictionary Says

Definition of 'Central Provident Fund - CPF'

A mandatory benefit account set up to provide Singaporeans with a healthy retirement plan. The Central Provident Fund (CPF) was first introduced in 1948 by the Progressive Party to help ensure that Singaporeans would save up for retirement. Many people disagreed with the idea but it was believed that making this fund compulsory would give security and assurance to retirees.
Investopedia Says

Investopedia explains 'Central Provident Fund - CPF'

Rates of contribution vary depending on the employee's age. For example, members that are 35 years old or younger must contribute approximately 33% of total wages to the fund. This breaks down to the employees contributing 20% of their wages and their employers contribute the remaining 13%.

The purpose of the fund was to ensure that those entering retirement had the healthcare and support that they needed. The funds are then managed and invested to obtain an adequate return.

Articles Of Interest

  1.

    Managing Income During Retirement

    Learn some sensible strategies for making your hard-earned savings last for as long as you need them.

  2. Retirement Planning Basics

    Realizing your post-work goals need not be daunting. We'll tell you everything you need to know to get - and stay - on track.

  3. Retirement Savings Tips For 35- To 44-Year-Olds

    Learn how the "sandwich generation" can save for retirement while taking care of their kids and parents.

  4. A Pre-Retirement Checkup

    Are you on track to post-work bliss? We'll tell you how to find out.

  5. The True Cost Of Pharmaceutical Scandals

    "Big Pharma" has faced many scandals. Here are some of the biggest and the fines that resulted.

  6. In Retirement, Snowbirds Leave Cold Weather Behind

    Rather than shivering away their golden years, retirees can fly south to winter in sunny locales.

  7. The Benefits Of Retiring Later

    Not only does retiring later give you more time to build your retirement nest eggs, but it may also keep you healthy.

  8. Securitizing Your Health With ACOs

    ACOs have the components required to securitize. Can your health become an instrument that can be traded?

  9. How To Avoid Going Broke After Retirement

    There are many things to consider when planning your retirement, including budgets, taxes and long-term care.

  10. U.S. Or Canada: Which Country Is Best To Call Home?

    There are unique benefits to living both above and below the 49th parallel. Find out which of these great nations best suits your value system.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center