Growing your savings

From the day you begin working, you start saving for retirement. You and your employer contribute monthly towards your CPF. As an employee, your employer is required to make CPF contributions for you.

If you are self-employed, you will contribute to MediSave for your healthcare needs. To help you make your contributions more easily, Government agencies making service payments would contribute a portion of the payment to your MediSave Account, before paying the remainder sum to you.

As a platform worker, your CPF contributions are made through your platform operator, on a monthly basis. This applies for all platform workers.

You have the option to  invest your Ordinary Account and Special Account savings in a wide range of investments. Learn more about investing your CPF savings.

The government helps to grow your savings by paying interest of up to 5% per annum if you are below age 55 and interest of up to 6% per annum if you are 55 and older. With compound interest, your CPF will grow year after year.  

Eligible workers will receive CPF top-ups to build up their retirement savings and cash payments to help them meet their daily needs from the Government under the Workfare Income Supplement Scheme.

From 2025 to 2028, the Platform Workers CPF Transition Support (PCTS) scheme provides monthly cash payments to support lower-income platform workers who make increased CPF Ordinary and Special Account contributions.