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Encyclopedia > Provident Fund
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CPF Building, headquarters of the CPF Board, is located on Robinson Road.

The Central Provident Fund (abbrev: CPF; Chinese: 公积金, Pinyin: Gōngjījīn) is a compulsory comprehensive social security savings plan which aims to provide working Singaporeans with a sense of security and confidence in their old age. The conceptualisation of such a savings plan can be traced back to policies of the Singapore Progressive Party, who set up the Central Provident Fund in 1948, even under the hindrance of limited self-government at the time. The overall scope and benefits of the CPF encompass the following: Robinson Road, Singapore Robinson Road (Chinese: 罗敏申路) is a major trunk road in Singapores central business district. ... It has been suggested that Apocopation be merged into this article or section. ... Pinyin is a system of romanization (phonemic notation and transcription to Roman script) for Standard Mandarin, where pin means spell(ing) and yin means sound(s)). This article describes the most common variant called Hanyu Pinyin (Simplified Chinese: 汉语拼音; Traditional Chinese: 漢語拼音; pinyin: HànyÇ” PÄ«nyÄ«n), also known as scheme... For specific national programs, see Social Security (United States), National insurance (UK), Social Security (Sweden) Social security primarily refers to a field of social welfare concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ... The Singapore Progressive Party, or just, the Progressive Party was a now defunct political party that won the 1948 Elections of Singapore in 1948 by winning half the seats in the Legislative Assembly, 3 out of 6. ... 1948 (MCMXLVIII) was a leap year starting on Thursday (the link is to a full 1948 calendar). ...

  • Retirement
  • Healthcare
  • Home Ownership
  • Family Protection
  • Asset Enhancement

Working Singaporeans and their employers make monthly contributions to the CPF and these contributions go into three accounts: Retirement is the status of a worker who has stopped working. ... Health care or healthcare is one of the worlds largest and fastest growing professions. ...

  • Ordinary Account - the savings can be used to buy a home, pay for CPF insurance, investment and education.
  • Special Account - for old age, contingency purposes and investment in retirement-related financial products.
  • Medisave Account - the savings can be used for hospitalisation expenses and approved medical insurance.

As a social security plan, some of its policies have encountered criticisms, some of which are against social security in general and its compulsory nature, as well as the policy in management of the money. The examples and perspective in this article or section may not represent a worldwide view. ... Invest redirects here. ... Health Insurance is a type of insurance whereby the insurer pays the medical costs of the insured if the insured becomes sick due to covered causes, or due to accidents. ...


See also

The politics of Singapore is based on a unitary state with some aspects modelled on the Westminster system of parliamentary government. ... The Economy of Singapore is a highly developed and successful free market economy in which the state plays a major role. ...

External links

  • CPF Home
  • Singapore’s Central Provident Fund Scheme An Overview and A Comparison with the U.S. Social Security System


 

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