CPF
Pic: Taken from the CPF website. In Singapore, we have the Central Provident Fund (CPF), which is a compulsory savings through own and employer contribution during our working years, to provide us for our golden age. This post lists some information for younger Singapore citizens, as a quick reference. The info is accurate (to the best of my knowledge) as of the posting date. Before 55 years old: 1. Try to achieve the required Full Retirement Sum (FRS) early. The main purpose is not about wanting to retire early, but to take advantage of the high/good interest rates offered in CPF. The amount is compounded, and will be a huge sum by the time we are 55. 2. We can achieve the above by various methods, like low-to-medium risks investments using Ordinary Account and/or Special Account (OA/SA), or through voluntary top-ups. Of course, we need to work very hard and impress our boss so that we get our promotions, higher salary and bonuses that ...