CPF Khata Bandh Kari GPF Khatu Sharu Karva Babat Paripatra
The Central Provident Fund (CPF) is a mandatory benefit account providing retirement earnings and healthcare for Singaporeans. Contributions to the retirement account originate from both the employee and the employer. There are three types of CPF accounts: ordinary, special, and medisave accounts.
CPF Khata Bandh Kari GPF Khatu Sharu Karva Babat Paripatra
The Central Provident Fund started in 1955 as a way to assure all Singaporeans would have income and financial stability in retirement.The CPF was controversial when first introduced with considerable opposition to the concept of a forced retirement program,3 but it became more popular over the years and has expanded to include healthcare (medisave) and public housing assistance.Singaporeans can begin drawing from their retirement account at age 55, and similar to the Social Security system in the U.S., waiting to receive funds until an older age means more money will be in the account.

The employee and employer each contribute to the CPF account. The funds in the CPF account are conservatively invested to earn around 5% per year.1 In 1968, the CPF expanded to provide housing under the Singapore Public Housing Scheme. In the 1980s, the program expanded again to provide medical coverage for all participants.

CPF ખાતા બંધ કરી GPF ખાતું શરુ કરવા બાબતે ઓફીશીયલ પરિપત્ર (સમાજ સુરક્ષા ખાતાનો છે પણ દરેક કર્મચારીને વાંચવા જેવો)

At the present time, participants with a minimum balance of $40,000 in their account at age 55, or $60,000 at age 65, can select a CPF LIFE annuity plan. Participants can opt out of CPF LIFE if they receive a monthly pension or life annuity payout and are fully exempted from having to set aside their retirement sum.