Central Provident Fund (“CPF”) Saving can be considered as one of the avenue for early retirement plan. For those of you who are not from Singapore, please refer to the below for more details:
Monies from CPF can only be withdrawn when the CPF members reach the age of 55 and he/she meets the prevailing minimum sum at the age. More details are as follows:
Based on the above details, I do not consider CPF monies as part of my FIRE plan as I intend to retire now or any time later from now. Despite this consideration, I still intend to make voluntary contributions to my CPF accounts as long as I have the full time employment. There are various mode of voluntary contributions. The details are as follows:
I can take some income tax relief for contributing directly to Medisave account.