CPF: Central Provident Fund
Singapore's compulsory savings scheme for citizens and PRs. Under 55, you put in 20% of your pay and your employer adds 17%.
CPF is the compulsory savings scheme for Singapore citizens and permanent residents. Each month part of your salary goes into your CPF accounts, and your employer adds more on top.
From 1 Jan 2026, if you are 55 or younger you contribute 20% of your wages and your employer adds 17%, on monthly ordinary wages up to $8,000. The rates step down after 55.
The money is split into accounts:
- Ordinary Account (OA): housing, education and some investments. Earns at least 2.5% a year.
- MediSave: healthcare and health insurance premiums.
- Special Account / Retirement Account: retirement. At 55, Special Account savings move to a Retirement Account.
Foreigners on an Employment Pass or S Pass do not contribute to CPF, so their take-home pay is their gross pay before tax.