It is both individual and collective. It comprises the individual’s savings and significant injections of Government support.
And through CPF LIFE, members are pooling risks to support one another in the face of life’s uncertainties throughout retirement.
There is therefore a collective responsibility built into the system through Government support as well as through members' risk pooling through CPF LIFE.
Examples of Government Support:
1. Medisave Grant of $3000 for every Singaporean baby.
2. NS HOME where an NSman receives a total of $15,000 injected into his CPF accounts at 3 different stages of his NS journey.
See: http://on.fb.me/1Gi9UAo
3. Housing Grants
(CPF housing grant, additional CPF housing grant, special CPF housing grant, step-up CPF housing grant)
These housing grants are not merely discounts on the price of the flat. They are money credited into your CPF account should you decide to sell your flat.
4. Medisave top-ups
5. Workfare Income Supplement credited into a member's Special and Medisave accounts.
6. Edusave
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