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The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing [3] needs in Singapore. The CPF is an employment-based savings ...
Further, Central Provident Fund (CPF) money is used by the CPF Board to invest, as exclusive purchaser, in Special Singapore Government Securities (SSGS), with payments made into Past Reserves. [8] Current Key Statutory Boards: [9] Central Provident Fund Board (CPF) Housing and Development Board (HDB) Jurong Town Corporation (JTC)
Logo of the Insolvency and Public Trustee's Office. The Insolvency & Public Trustee's Office (IPTO) in Singapore is a department under the Ministry of Law.IPTO oversees the administration of individual and corporate insolvencies, the administration of small intestate estates and un-nominated Central Provident Fund (CPF) monies, as well as the licensing and regulation of moneylenders and ...
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GIC Private Limited is a Singaporean sovereign wealth fund that manages the country's foreign reserves.Established by the Government of Singapore in 1981 as the Government of Singapore Investment Corporation, from which the acronym "GIC" is derived, its mission is to preserve and enhance the international purchasing power of the reserves, with the aim to achieve good long-term returns above ...
Singapore is a country known for its highly efficient and centralised government system largely due to these statutory boards. [2] They play a significant role in the development and implementation of policies and programs in various sectors of the country.
MediSave, introduced in 1984, is a national medical savings account system in Singapore.By law, all working Singaporeans and permanent residents must contribute 8-10.5% of their income to their MediSave account (MSA) to cover medical expenses for themselves or approved dependents, including hospitalization, day surgery, selected outpatient treatments, and healthcare needs in later years.
The statutory boards that come under the president's purview are the Central Provident Fund Board (CPF Board), the Housing and Development Board, JTC Corporation and the Monetary Authority of Singapore, while the Government companies are the Government of Singapore Investment Corporation Pte. Ltd., MND Holdings Pte. Ltd., and Temasek Holdings ...