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CPF

PRs can partially withdraw their CPF savings at age 55, after a minimum sum has been set aside in their Retirement Account. Members can also withdraw their CPF savings if they are permanently incapacitated or are leaving Singapore and West Malaysia for good. If they do return, they will need to return to CPF the savings they withdrew, with interest. The request form for withdrawal of your CPF savings can be found on the CPF website.

CPF is mandatory for foreigners only if they are Permanent Residents (PRs). Contribution rates for the first two years as a PR are reduced. For more information on PR contribution rates to CPF, visit the CPF website.

CPF is a compulsory social security savings scheme that employers and employees contribute to. It is applicable only to Singapore citizens and Permanent Residents. CPF is meant to take care of workers' financial needs at retirement as well as other areas such as healthcare, home ownership, investment and medical insurance.

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