What is Central Provident Fund (CPF)?

The Central Provident Fund or CPF is a mandatory pension fund scheme applicable for all Singapore citizens and Singapore permanent residents earning more than S$50 a month.

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Do I have to pay the salary and CPF of the Nominee Director? Do foreign employees need to contribute to the CPF fund? Can I use my Central Provident Fund (CPF) for the Education Scheme? What is the Central Provident Fund (CPF) contribution rate?