CPF

Never a Dull Moment


Daphne Wee Miaoyu


Thomas Zhuo Dianyun

Throughout the country’s evolution, the Central Provident Fund (CPF) Board has remained true to its mission of enabling Singaporeans to enjoy a secure retirement in their golden years. Two CPF Board scholars shed some light on the enriching and dynamic career that one can look forward to at the CPF Board.

By Julailah Wahid

Through lifelong income, healthcare and home financing, the CPF Board strives to enable Singaporeans to have a secure retirement. As a firm believer of saving for retirement, this mission resonated strongly with 25-year-old Daphne Wee Miaoyu, who then wasted no time in applying for the CPF Mid-Term Undergraduate Scholarship while studying at Nanyang Technological University.

Similarly, 27-year-old Thomas Zhuo Dianyun, a fellow CPF Mid-Term Undergraduate scholar, had always wanted to play a part in touching the lives of Singaporeans. After all, many working Singaporeans have benefitted from CPF savings, which also contribute to family protection and asset enhancement.

A Rewarding and Meaningful Career

Having launched their careers in the Policy department at the CPF Board, both Daphne and Thomas are now taking on operational roles. As a Manager in the Lifelong Income department, Daphne puts procedures, processes and systems in place based on the objectives of the CPF Lifelong Income For the Elderly (CPF LIFE) Scheme, which is a national annuity scheme that provides CPF members with a monthly payout for as long as they live. On the flipside, Thomas’s role as an Assistant Manager in the Investigation and Compliance department is to ensure that employers and businesses contribute CPF for their employees. (Read More Here!)

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Entrusting Future Talent

Despite appearances, there’s much more that goes on within the confines of the CPF Board’s building besides just the management of precious funds. We talk to a scholar from who reveals a world behind the numbers and dollars.

By Louisa Koh

24-year-old Jeslyn Su is not your ordinary scholar. Beneath her youthful looks lies a lady determined to carve out a name for herself. The multi-hyphenate not only possesses a Bachelor’s degree in Economics & Operations Research and Management Science from the University of California but crossed the Atlantic Ocean to get a Master’s degree in Economics from the University of Cambridge.

Upon returning to Singapore, she immediately got down to business in the Central Provident Fund (CPF) Board, and is currently an Assistant Manager in the Policy department.

Jeslyn leads us through her journey with the CPF Board so far.

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Making A Difference

Since starting in 1955, the CPF Board has continually worked to help Singaporeans in all aspects of their lives. Find out from two CPF scholars how being in CPF has helped changed their lives and the lives of Singaporeans at the same time.

By Joyce Lin

From a simple retirement savings scheme conceptualised in 1955, the Central Provident Fund (CPF) has evolved into a comprehensive social security system that helps Singaporeans to plan for their retirement, housing, and healthcare needs.

Over the years, the CPF Board has adapted to meet the ever-changing needs of its CPF members with the launch of new programmes like the CPF Life scheme in 2009 and more recently, the Workfare Training Support scheme on 1 July 2010.

As Singapore moves into a more competitive world environment, it has become even more imperative for the CPF Board to have the capabilities to make social innovations that enable Singaporeans to plan for their retirement and financial needs.

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Challenging New Frontiers with CPF

For fresh graduates who are searching for a career filled with invigorating challenges, CPF is where a myriad of opportunities await.

By Becky Lo

The Central Provident Fund (CPF) started out as a simple retirement savings plan when it was first launched in 1955, but has since evolved into a comprehensive social security system that plays a key role in Singaporeans’ lives.

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Secure Retirement, Stable Finances

Conceptualising policies, strategic planning and affecting lives – these are all in a day’s work for CPF Board scholar Mr Desmond Chew.

By Nabilah Husna A. Rahman

Every month, 34.5% of an employee’s salary is saved in their Central Provident Fund (CPF) account, from which they can withdraw from the age of 55. This retirement savings scheme has been allowing workers to seamlessly transit into retirement with financial stability.

Before the CPF Board was set up in 1955, Singaporean citizens did not have a mandatory savings scheme, putting the nation in the vulnerable position of possibly turning into a welfare state. Now, the much familiar CPF scheme has been developed to become the backbone of Singapore’s healthcare, housing and retirement systems, and is a key instrument for overall national growth.

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Secure Retirement, Stable Finances

Conceptualising policies, strategic planning and affecting lives – these are all in a day’s work for CPF Board scholar Mr Desmond Chew.

By Nabilah Husna A. Rahman

Every month, 34.5% of an employee’s salary is saved in their Central Provident Fund (CPF) account, from which they can withdraw from the age of 55. This retirement savings scheme has been allowing workers to seamlessly transit into retirement with financial stability.

Before the CPF Board was set up in 1955, Singaporean citizens did not have a mandatory savings scheme, putting the nation in the vulnerable position of possibly turning into a welfare state. Now, the much familiar CPF scheme has been developed to become the backbone of Singapore’s healthcare, housing and retirement systems, and is a key instrument for overall national growth.

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CPF: Spurred Towards Security

A CPF Board scholar shares how she is continually driven towards leading changes in social security.

By Tan Yan Shuo

Although her scholarship interview with the Central Provident Fund Board (CPFB) took place more than 12 years ago, Heidi Chan still vividly remembers the experience.

“I felt they were really interested in me as an individual, and not as just another possible recruit. They wanted to know about me, my interests, and how I fit in the organisation. It spoke of a very warm culture, and when you join the Board, you realise it’s true,” Heidi recounts.

Heidi was also struck by how involved the Board was in the lives of Singaporeans, and how it made a difference to many people in different stages of life. Won over by the organisation’s business and mission, she took up the CPF scholarship and has never looked back since.

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Intern's Blog: CPF Rates to Stay

Bosses, if you're looking to trim operating costs, forget about reducing your CPF contributions to employees.

There are other methods to employ to keep your company in the black, according to Minister Lim Boon Heng: "Bonuses can be cut. The MVC can also be cut if needed. Other measures include a shorter work-week with corresponding reductions in wages."

Perfectly fine measures, it seems, especially when we've all established that employees would rather lose digits from the paycheck than lose our jobs. And of course we should all be thankful for it.

"This is our advantage," he adds, knowing of no other countries with "such a range of options open to employers."