Tags: Government Agency.
In Singapore the Central Provident Fund (Abbreviation: CPF; Chinese: 公积金 Pinyin: Gōngjījīn) is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement healthcare and housing needs. It is administered by the Central Provident Fund Board a statutory board under the Ministry of Manpower. The employer has to contribute 16% of the employee’s monthly gross salary while the employee contributes 20% of his monthly gross salary.
