Singapore's mandatory social security savings scheme for citizens and permanent residents. Employees contribute 20% of monthly wages and employers contribute 17% (rates for age ≤ 55), split across Ordinary, Special, MediSave, and (from 55) Retirement accounts.
Example: On a S$5,000 monthly salary, the employee contributes S$1,000 and the employer adds S$850 — S$1,850 total flows into your CPF accounts.
Ordinary Account (OA): 2.5% guaranteed interest. Used for housing, education, investments, and insurance. The most commonly tapped account for working-age members.
Special Account (SA): 4% guaranteed (plus 1% extra on first S$60,000 combined). Earmarked for retirement — funds flow into your Retirement Account at age 55.
MediSave Account (MA): 4% guaranteed. Pays MediShield Life and CareShield Life premiums plus approved medical expenses.
Retirement Account (RA): created at 55, formed from OA + SA up to your chosen Retirement Sum. Funds CPF LIFE payouts from age 65.
Total contribution: 37% of monthly wages — 20% from the employee, 17% from the employer.
Ordinary Wage ceiling: monthly contributions are capped on the first S$7,400 of wages (S$8,000 from 2026). Additional Wage ceiling caps annual contributions on bonuses.
Contribution rates step down progressively from age 55 onwards as members transition toward drawing down rather than building up.
For employees under 35, contributions split: OA 62.2%, SA 16.2%, MA 21.6%. As you age, more flows to SA and MA at OA's expense.
OA receives the largest share early because most members are buying their first home in their 30s. By age 50–55, OA allocation drops to ~37% as retirement saving takes priority.
Voluntary cash top-ups via RSTU: top up your own or family members' SA / RA, with up to S$8,000 tax relief per beneficiary.
Transfer OA to SA: irreversible, but instantly increases the interest you earn (2.5% → 4%). Best done in your 30s and 40s.
CPF Investment Scheme (CPFIS): invest OA / SA funds in approved unit trusts and ETFs. Costs and risk apply — not for everyone.
The Central Provident Fund — Singapore's mandatory social security savings scheme for Citizens and PRs. Employees contribute 20% of monthly wages, employers add 17%, totalling 37% (for age ≤ 55). Money is split across Ordinary, Special, MediSave, and (from 55) Retirement Accounts.
OA earns 2.5% guaranteed. SA, MA, and RA earn 4% guaranteed. Members aged below 55 get an extra 1% on the first S$60,000 combined balance (with up to S$20,000 from OA). From 55, an additional 1% on the first S$30,000 in RA.
You can withdraw the OA + SA balance above your applicable Retirement Sum at 55. If you own property pledging at least your Basic Retirement Sum (BRS), you can withdraw anything above BRS. Without property, you must keep at least the Full Retirement Sum.
The Ordinary Wage ceiling caps monthly contributions on the first S$7,400 of wages (S$8,000 from 2026). Annual contributions are also capped via the Additional Wage ceiling — which is the total allowable annual contribution minus what's been contributed via OW.