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You are here: Home / FAQs / What is Central Provident Fund (CPF) for?
FAQ : CPF / Taxation & Accounting

What is Central Provident Fund (CPF) for?

Your Central Provident Fund (CPF) is for your retirement. You can withdraw your CPF savings when you turn 55, after setting aside your CPF Minimum Sum. Your CPF Minimum Sum can be used to buy life annuity from a participating insurance company, placed with a participating bank or left in your Retirement Account with the CPF Board. From 62 (current draw-down age), you will receive monthly payments from your CPF Minimum Sum to help meet your basic needs in retirement.


Related questions?

  1. When is Central Provident Fund (CPF) required to be paid?
  2. When is personal overseas income taxable?
  3. What tax benefits does the Singapore Government give to a newly set up Company?
  4. Is there any limit or quota on the number of Employment Pass (EP) applications a Company can make?
InCorp GroupPrimeGlobal

Rikvin Pte Ltd

EA License No. 11C3030

36 Robinson Road,
#20-01 City House,
Singapore 068877

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