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 old age.
	Medisave Account
	The savings can be used for hospitalisation expenses and approved medical insurance.

If you wish to know more about the CPF contribution and allocation rates, click here.

 

If you are a self-employed…

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

Click here if you wish to know more about Medisave for the self-employed. To check your Medisave contribution rate, click here.

 

Making Voluntary Contributions

For employees:

You may wish to make voluntary CPF contributions to build up your retirement savings. These contributions can also 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. Please note that you will not enjoy tax relief on your voluntary CPF contributions.

For the self-employed:

It is not compulsory for the self-employed to contribute to the Ordinary and Special Accounts. However, 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.

For more information on voluntary contributions for the self-employed, click here.

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