Central Provident Fund Board Singapore

What Central Provident Fund Board Singapore does

The Central Provident Fund Board (CPFB) is a statutory board of the Government of Singapore that administers the Central Provident Fund, a mandatory comprehensive savings scheme covering working Singapore citizens and permanent residents. Contributions are statutorily required from employees, employers, self-employed persons, and platform workers, and are allocated across three accounts (Ordinary Account, Special Account, and MediSave) based on age and contribution rates. Interest rates are government-set at 2.5% on OA balances and 4.0% on SA balances. CPF Board is fully owned by the Government of Singapore, was founded in 1995, and operates with a workforce of 5,001-10,000 employees across Singapore. There are no private shareholders, no external funding rounds, and no IPO.

The core product surface is the my cpf digital services portal and CPF Mobile App, both authenticated via SingPass, providing members with account balances, dashboards, statements, and a suite of planners (Retirement Dashboard, Home Purchase Planner, Retirement Payout Planner, Health Insurance Planner, and Calculators). CPF LIFE delivers lifelong monthly payouts from retirement, MediSave funds healthcare costs including MediShield Life and CareShield Life, and CPF savings may be deployed for HDB and private property purchases. For employers, CPF EZPay provides an electronic contribution submission platform available via web and mobile. A new voluntary CPF Life-Cycle Investment Scheme, announced in Budget 2026, is scheduled for launch in H1 2028, using a glide-path mechanism with 2-3 appointed fund managers and government-capped all-in fees.

The business model is not commercial: CPF Board does not charge members fees, has no pricing model, and operates as a mandate-driven public agency. Revenue is generated through mandatory statutory contributions rather than commercial sales, with services delivered free to members as part of Singapore's national social security system. Distribution is omni-channel, combining digital self-service (website, mobile app, CPF EZPay), five physical service centres with 24-hour self-help lobbies (Maxwell, Bishan, Jurong, Tampines, Woodlands), ServiceSG Centre partnerships for legacy planning, dedicated call centre and healthcare hotlines, and an official WhatsApp channel with approximately 26,000 followers. Integration with national infrastructure (SingPass, PayNow, CDP, bank GIRO) anchors the platform within Singapore's broader digital government ecosystem.

Name

Central Provident Fund Board Singapore

Legal name

Central Provident Fund Board

Website

https://cpf.gov.sg

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Central Provident Fund Board is a Singapore Government statutory board that administers the mandatory national savings scheme for working Singapore citizens and permanent residents, delivering retirement, housing, and healthcare benefits through a digital portal, mobile app, five service centres, and employer payment platform.

Ownership category

akta.pro rank

NAICS

Pension Funds (525110), Health and Welfare Funds (52512)

SIC

Life Insurance (6311), Finance Services (6199)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industries

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA), Income Support & Cash Assistance Programs (BPAIAKAE)

Keywords

• Social security administration
• Mandatory retirement savings
• Pension fund management
• Healthcare savings scheme
• Housing financing scheme

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Mandatory CPF Contributions: CPF Board administers mandatory savings contributions from employees and employers in Singapore. All working Singapore residents and PRs are required to contribute a percentage of their wages to CPF, which is then allocated across Ordinary Account (OA), Special Account (SA), and MediSave Account based on age and contribution rates.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

The Central Provident Fund Board administers Singapore's mandatory national social security savings scheme, requiring all working Singapore Citizens and Permanent Residents to contribute a percentage of wages into three accounts: Ordinary Account (OA), Special Account (SA), and MediSave Account. Funds support retirement income through the CPF LIFE scheme, home ownership financing, and healthcare costs including MediShield Life insurance. The Board delivers member-facing digital services through the my cpf portal and CPF Mobile app, employer contribution submission via CPF EZPay, and in-person assistance across five service centres.

Differentiator

Problem solved

Functional benefit

Named customers1 record

Segments5 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability1 record

Feature4 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• SingtelcoreStrategic or Co-development Partner · 7 April 2026CPF Board and Singtel collaborated on the Singtel Special Discounted Shares (SDS) scheme, originally offered through CPF in 1993 and 1996. The Central Provident Fund (Amendment) Bill was introduced on April 7, 2026, to enable approximately 615,000 SDS holders aged 50 and above to transfer shares from CPF accounts to CDP accounts, gaining direct ownership. Transfer scheduled for November 21, 2026, pending parliamentary approval.
• SalesforcesupportingTechnology or Integration · 29 September 2025CPF Board participated in the Salesforce Agentforce World Tour Singapore event, joining multiple ASEAN businesses (Grab, FairPrice Group, Singapore Airlines, Panasonic, Kaplan) in showcasing AI transformation initiatives. Over 485 AI agents were built at the event. CPF Board shared its public sector AI transformation approach.
• Maritime and Port Authority of Singapore (MPA)supportingTechnology or Integration · 29 September 2025CPF Board and MPA participated together at the Salesforce Agentforce World Tour Singapore, presenting their public sector AI transformation initiatives as government agencies embracing AI technology.
• Agency for Integrated Care (AIC)supportingStrategic or Co-development PartnerAIC partnered with Singtel to conduct outreach to over 20,000 older and less digitally savvy SDS holders. The agency has begun house visits to assist shareholders with understanding their options and completing the necessary procedures before the November 21, 2026 deadline.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Social Security System (SSS), Philippines: SSS Philippines administers mandatory social security coverage for private sector and self-employed workers, including retirement, disability, and healthcare benefits. The combination of mandatory contributions, multi-pillar benefits, and government backing closely parallels CPF Board's structure.
• Employees' Provident Fund Organisation (EPFO), India: India's central Employees' Provident Fund Organisation administers mandatory provident fund, pension, and insurance schemes for over 60 million subscribers across India's formal sector. Operates a similar tripartite contribution model and pension fund administration mandate as CPF Board.
• Social Security Office (SSO), Thailand: Thailand's SSO administers mandatory social security contributions covering sickness, maternity, disability, death, old-age pension, and child welfare benefits for Thai private sector employees. Comparable mandate structure serving a comparable Southeast Asian workforce.
• Employees Provident Fund (EPF), Malaysia: Malaysia's mandatory employees provident fund is the closest structural analog to CPF Board — both are compulsory savings schemes funded by employer/employee contributions, with account-based allocations for retirement, healthcare, and housing. EPF manages over RM1 trillion for Malaysian workers, making it a near-perfect functional peer.
• Mandatory Provident Fund Schemes Authority (MPFA), Hong Kong: MPFA regulates Hong Kong's Mandatory Provident Fund (MPF) system — a compulsory, privately-managed, employer/employee-funded retirement savings scheme. While privately managed, the underlying mandate (universal coverage, DC structure, employer/employee contributions) closely parallels CPF.
• National Pension Service (NPS), South Korea: South Korea's National Pension Service is the world's third-largest pension fund, managing mandatory national pension contributions for Korean workers and paying lifelong retirement benefits. Direct structural analog with comparable scale and mandatory contribution framework.
• BPJS Ketenagakerjaan, Indonesia: Indonesia's national social security agency for workers manages JHT (old-age savings), JP (pension), JKK (work accident), and JKM (death) programs funded by mandatory employer/employee contributions. Closely comparable multi-pillar social security mandate serving a large emerging-market workforce.

Others

• Temasek Holdings: Temasek is a Singapore state-owned investment company that is a sibling statutory entity to CPF Board. While Temasek invests in equities and private assets for long-term national wealth (not retirement liabilities), it shares institutional DNA and government ownership — making it a relevant ecosystem peer rather than a directly comparable operator.
• GIC (Government of Singapore Investment Corporation): GIC manages Singapore's foreign reserves and a significant portion of CPF assets under a mandate from the Monetary Authority of Singapore. While not a direct competitor, GIC is a sister government-linked entity that manages CPF's long-horizon investment portfolio — making it a strategically relevant ecosystem participant rather than a comparable operator.

Broad incumbents

• Australian Taxation Office — Superannuation: Australia's superannuation guarantee (9.5-12% employer contributions) is administered and overseen by the ATO alongside APRA-regulated super funds. Comparable in universality and compulsion, but operates through private fund managers rather than as a single statutory board — making it a broader incumbent rather than a direct operational peer.

Market position

Strengths1 record

Weaknesses1 record

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cpfboard
• LinkedInlinkedin.com/company/cpf-board

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Central Provident Fund Board Singapore