You and your employer make monthly contributions to the CPF and these contributions go into three accounts:

	Ordinary Account
	The savings can be used to buy a home, pay for CPF insurance, investment and education.
	Special Account
	The savings in this account are for your retirement.
	Medisave Account
	The savings can be used for hospitalisation expenses and approved medical insurance.

Find out more about the CPF contribution and allocation rates.

You will need to contribute to your Medisave Account if you earn a yearly net trade income of more than $6,000.

Find out more about Medisave and Medisave contribution rate for self-employed persons.

For employees:

You may wish to make voluntary CPF contributions to build up your retirement savings. These contributions will be credited to your CPF Ordinary, Special and Medisave accounts according to the percentage allocated for your age and can be used for your housing and healthcare needs. You can make a one-time payment, or regular contributions deducted by GIRO to your CPF accounts.

For the self-employed persons:

While it is not compulsory for self-employed persons to contribute to the Ordinary and Special Accounts, you are encouraged to make voluntary contributions to all three accounts to build up your retirement savings. You will enjoy tax relief on your voluntary CPF contributions.

For more information on voluntary contributions, click here.

You may wish to visit IRAS website for more information on the prevailing tax rules.