Did you know?
Did you know that
CPF started as a simple old-age savings plan?
Did you know that today, CPF administers 15 schemes encompassing the five
areas of benefits:
Retirement, Home Ownership, Healthcare, Family Protection and Asset Enhancement.
Find out more about the CPF Board and interesting statistics on this page. New information will be updated every fortnight, so do remember to drop by again!
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CPF started off with only 180,000 members in 1955 and a fund size of $9 million. Today, membership stands at 3 million members, with a fund size of $103,539.6 million. Besides acting as the main retirement income for Singaporeans, CPF is also used for two important purposes: • To fund infrastructure projects such as the building of schools, roads, and even power stations. As a result, the government does not need to rely heavily on borrowing to finance such projects. |
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• As an anti-inflationary tool. CPF contribution rates were adjusted to 50% (the highest so far) in 1984 - 1985 in a bid to dampen inflation. From a simple old-age savings plan, the CPF has transformed itself into a sophisticated social security organisation, with 15 schemes encompassing the five areas of benefits: Retirement, Home Ownership, Healthcare, Family Protection and Asset Enhancement. |
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