In Singapore the Central Provident Fund (Abbreviation: CPF; Chinese: 公积金, Pinyin: Gōngjījīn) is a compulsory comprehensive savings plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing needs. It is administered by the Central Provident Fund Board, a statutory board under the Ministry of Manpower. The CPF was started on 1 July 1955.
Read more about Central Provident Fund: History of CPF, Critics
Famous quotes containing the words central, provident and/or fund:
“In a large university, there are as many deans and executive heads as there are schools and departments. Their relations to one another are intricate and periodic; in fact, “galaxy” is too loose a term: it is a planetarium of deans with the President of the University as a central sun. One can see eclipses, inner systems, and oppositions.”
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They are provident instead,
Content in the tight hot cell of their hearts
To eat dusty bread.”
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