Scheduled maintenance: Long-term care insurance information on Healthcare Dashboard is unavailable from 26 April 2024, 8pm to 28 April 2024, 11.30pm for upgrades.

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CPF Board encourages retirement savings but a limit was set for the contributions. Why is that so?

There is a limit set as the CPF system is generally meant to cater to the needs of up to 80th percentile of workers in Singapore. Higher income earners would have other means to supplement their retirement income.