Difference Between Cpf And Cff

The main difference between CPF (Central Provident Fund) and CFF (Central Fixed Fund) is the purpose for which they are used. CPF is a retirement fund, while CFF is a fund used for investment purposes.

CPF is a mandatory savings plan, which is managed by the Singapore government. It is used to help Singaporeans save for retirement, as well as to pay for housing and medical expenses. Contributions to CPF are made by employers and employees, and the funds are invested in a range of investments, such as stocks, bonds, and fixed deposits. The returns on these investments are used to provide an income for retirement.

On the other hand, CFF is a voluntary savings plan, which is managed by private financial institutions. It is used to help Singaporeans save for long-term investments and to provide a source of income for retirement. Contributions to CFF are made by individuals, and the funds are invested in a range of investments, such as stocks, bonds, and mutual funds. The returns on these investments are used to provide an income for retirement.

In conclusion, the main difference between CPF and CFF is the purpose for which they are used. CPF is a mandatory savings plan, which is used to help Singaporeans save for retirement, while CFF is a voluntary savings plan, which is used to help Singaporeans save for long-term investments and to provide a source of income for retirement.