CPF Board

Singapore is a successful nation which revolves on a national philosophy of self-reliance. Throughout our rapid development, we have refrained from becoming a welfare state. This was made possible through the introduction of the Central Provident Fund (CPF) in 1955. As a compulsory savings scheme, CPF ensured that workers could support themselves with dignity in retirement.Over the years, CPF has also been used to accelerate national growth.To meet the population's needs in housing, healthcare, family protection and investment, several innovative schemes were introduced over the last five decades. Yet, throughout its evolution, the Board has remained true to its founding principle, which is to ensure that every Singaporean enjoys financial independence in old age.