The Central Provident Fund (CPF) is a comprehensive social security system in Singapore that aims to help residents save for retirement, healthcare and housing needs. While it is mandatory for all working Singaporeans and permanent residents to contribute to their CPF accounts, not everyone fully utilizes the system for their retirement planning. However, there are many success stories of individuals who have effectively used CPF for their retirement and achieved their financial goals. These case studies serve as inspiring examples for others to maximize their CPF contributions and secure a comfortable retirement.

One such success story is that of 65-year-old Sally Tan who has been a diligent contributor to her CPF account since her first job at 21. She started off with the minimum contribution amount and gradually increased it as she progressed in her career. She made use of the various CPF schemes such as the Special Account (SA) and the Retirement Sum Scheme (RSS) to diversify her savings and grow her retirement fund. Today, Sally is enjoying her retirement years without any financial worries, thanks to her consistent and strategic utilization of CPF throughout her working life.

Another inspiring example is 58-year-old Peter Lim, who had a late start in his CPF contributions due to a break in his career. Realizing the importance of financial planning for retirement, Peter maximized his CPF contributions and used the funds to purchase a property under the CPF