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View personal CPF information and transactions for retirement, home ownership, healthcare, and more.


CPF overview

CPF empowers you to secure your life goals. Save for retirement, home ownership, and healthcare protection.

Growing your savings

For greater peace of mind in your golden years, CPF provides you with a strong foundation for retirement by helping you save for your retirement income, home ownership and healthcare needs.

Retirement income

Build a strong foundation for your retirement and get more from what you save in your golden years.

Home ownership

Owning a home can be affordable. Take care of your mortgage repayment, while protecting your retirement nest egg.

Healthcare financing

Learn how CPF can give you peace of mind to manage your basic healthcare sum and meet the costs of your healthcare needs.

Account services

Throughout your working life and in retirement, you can easily access your CPF account information using Singpass. To better manage your CPF savings, keep up with the latest news by having your contact details updated and subscribe to our email notifications.

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13 Jan 2021

SOURCE: CPF Board

 

​Already made plans for your retirement, but wondering what else you can do to rainproof your retirement savings? Here are 3 ways you can tap on CPF for a snug retirement in any weather!


1. Sprinkle small and regular top-ups into your CPF


Regardless of the economic situation, your CPF savings will grow steadily at attractive interest rates and provide you with a secure foundation for retirement.

You can take small steps to leverage your CPF, by automating small and regular top-ups to your Special Account (SA) or Retirement Account (RA)1 via GIRO! For as little as $2 a day, you can grow your CPF savings by more than $14,0002 in 15 years. 

By setting aside more retirement savings in your CPF, you enjoy higher monthly payouts under CPF LIFE from age 65, for as long as you live!

Learn more about how you can kickstart your retirement plan and maximise your CPF savings with the CPF Planner: https://www.bereadywithcpf.gov.sg/cpf-planner/

 

2. Consider paying your housing loan partially with cash 

 

While your Ordinary Account (OA) savings can be used for your home downpayment and monthly loans, you can opt to use less of it for housing and more of it for retirement! 

Instead of depleting your OA savings, consider paying off your housing loans with a combination of OA savings and cash. This allows your OA savings to continue growing with an attractive interest rate of up to 3.5% p.a.3 , which can be used for your future retirement needs or mortgage loan repayments in times of need.

 

3.  Channel OA savings to your SA or RA for higher interest

 

If you have paid off your home loans and no longer require your OA savings for other needs, you can consider transferring your OA savings to your SA or RA.1,4

This way, your retirement savings can grow more, as your SA and RA earn more interest (up to 6% p.a.3) than your OA! Do note that CPF transfers are irreversible.

While you might be already on the right track in saving up for your golden years, consider some of these ways to strengthen your retirement plan! 

 


1Members below age 55 can make cash top-ups or CPF transfers to their SA, up to the prevailing Full Retirement Sum. Those aged 55 and above can top up their RA via CPF transfers or cash, up to the prevailing Enhanced Retirement Sum.

2Computed using the base interest rate of 4% p.a. on the SA.

3​Includes extra interest. Members who are below 55 years old are paid an extra interest of 1% p.a. on the first $60,000 of their combined balances (capped at $20,000 for Ordinary Account (OA)). Members who are 55 years old and above are paid an extra interest of 2% p.a. on the first $30,000 and 1% per annum on the next $30,000 of the combined balances (capped at $20,000 for OA).

4For members aged 55 and above, SA savings will be transferred to RA before OA savings.