17 Jan '18, 3pm

FAQs on The Use of CPF For Home Purchase

FAQs on The Use of CPF For Home Purchase

Undeniably, purchasing a property is a major and probably the heaviest financial commitment for most of us. However, the use of Central Provident Fund (CPF) to pay downpayment and make monthly financial obligations has been a popular and widely-considered option for many home buyers in Singapore. Are you, too, considering to finance your new home with CPF savings in the near future? Clementi Here is a short list of Frequently Asked Questions (FAQs) to clear your doubts: What is CPF? First introduced in 1955, CPF is a compulsory social security savings scheme for Singaporeans and Permanent Residents (PRs) who are employed, with the mandated amount contributed by both employers and employees (20% of wage from employees, 17% from employers) on a monthly basis. Perhaps the most familiar benefit we are aware of is that CPF serves to meet our healthcare and housing needs, lighte...

Full article: https://www.iproperty.com.sg/news/faqs-on-the-use-of-cpf-...

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