Your account can continue to grow even in years when you aren’t able to contribute. You earn interest, which gets added to your balance, and then you earn interest on the interest, and so on. This compounding effect allows the growth of your account to accelerate over time, illustrating ...
Modelled on the Central Provident Fund (CPF) in Singapore, China introduced its HPF programme in the early 1990s. It is a compulsory saving scheme providing individuals with an HPF account to which employers and employees contribute equally. The HPF account holder can draw money from the account...