1.0BACKGROUND The Central Provident Fund (CPF) was established in 1955 as a compulsory social security savings scheme to provide financial security for workers in their retirement or when they were no longer able to work. Over the years, it has evolved into a comprehensive social security ...
Funds in the SMRA earn an additional 1.5 percentage points above the prevailing OA interest rate. Total interest credited into members’ accounts amounted to $4,228.0 billion. 3.1.6 CPF Withdrawals CPF members can withdraw their savings at age 55, after setting aside a Minimum Sum in their ...