Singapore Central Provident Fund

Singapore's Central Provident Fund (CPF) is primarily for retirement, although can be used for a variety of asset-building purposes. Employees contribute a mandatory percentage of their income into these accounts which, along with a set employer match is allocated into three different accounts-the Medisave Account for medical insurance and other related expenses, the Ordinary Account for home purchase, life insurance, and higher education for either the accountholder or a child, and the Special Account for retirement savings.