CPP vs CPF

[winnipegjets]

Which is better - Canadian Pension Plan (CPP) VS Central Provident Fund (CPF)?

https://www.cbc.ca/news/business/cpp-explainer-1.5133984

Contribution Rates
CPP: 5 percent of income (max $57,400), employer matches that contribution
CPF: 20 pct , 17 pct from employer (wage cap at $72,000, bonsu cap is $102,000)

Benefits
CPP : From age of 65 till you die: $13,610 per annum (currently), to go up to $20k (2023) ; fully indexed to inflation
To get full benefits, must contribute at max rate for 39 years ; parents can enjoy another 7 years exemption.

CPF : Starting collecting from age 65 till death
Retirement sum $88k (calculated at age 55), receive $730 per month ($8760 per annum);
Retirement sum $176k, receive $1450 per month ($17400 per annum)
Retirement sum $264k, receive $2,110 per month ($25,300 per annum)

I think our CPF is much better! Vote PAP for your financial well-being.

 

[zhihau]

Canada has a cooler weather than Sinkiestan, that trumps everything else. But if you’d imagine Sinkiestan like a giant bubble like how the Changi Jewel is done, every parts air conditioned, electric vehicles all around. That’s a different take altogether.