AsiaCalc / Calculators / CPF vs EPF

CPF vs EPF: Side-by-Side Comparison

Singapore CPF and Malaysia EPF compared on contributions, allocation, withdrawals, housing, and retirement

By asiacalc.com Team · Updated July 2026

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EPF dividends are declared yearly and are not guaranteed. Recent years have landed around 5 to 6 percent. CPF uses its legislated floor rates of 2.5 percent on OA and 4 percent on SA, MA, and RA.

⚖️ Full Side-by-Side Comparison

Feature Singapore CPF Malaysia EPF
Contribution rates by age
  • 55 and below: 20% employee, 17% employer
  • Above 55 to 60: 18% employee, 16% employer
  • Above 60 to 65: 12.5% employee, 12.5% employer
  • Above 65 to 70: 7.5% employee, 9% employer
  • Above 70: 5% employee, 7.5% employer

Applied to Ordinary Wages up to the S$8,000 monthly ceiling.
  • Below 60, wages MYR 5,000 and under: 11% employee, 13% employer
  • Below 60, wages above MYR 5,000: 11% employee, 12% employer
  • 60 and above: 5.5% employee, 6.5% employer
  • Foreign workers since October 2025: 2% employee, 2% employer

No monthly wage ceiling. Contributions follow the Third Schedule brackets up to MYR 20,000, then the exact rate.
Where the money goes
  • Ordinary Account (OA): housing, education, approved investments, insurance
  • Special Account (SA): retirement and retirement-related investments
  • MediSave (MA): hospital bills, approved treatments, MediShield Life premiums

Under 55 the split is 23, 6, and 8 percentage points of the 37% total. From 2025 the Special Account closes at 55 and those savings move to the Retirement Account.
  • Akaun Persaraan: 75% of contributions, locked until 55
  • Akaun Sejahtera: 15%, for housing, education, and medical withdrawals
  • Akaun Fleksibel: 10%, withdrawable at any time for any reason

This three-account structure replaced the older 70 to 30 split between Account 1 and Account 2 in May 2024.
Withdrawal rules
  • At 55, savings up to the Full Retirement Sum move into a Retirement Account
  • You may withdraw the balance above the Full Retirement Sum, or above the Basic Retirement Sum if you own property with sufficient remaining lease
  • A minimum lump sum withdrawal is available at 55 regardless of balance
  • CPF LIFE monthly payouts can start from 65 and must start by 70
  • Akaun Fleksibel: withdraw any amount at any age
  • Akaun Sejahtera: withdraw earlier for approved purposes such as housing, education, and medical treatment
  • Age 55: full or partial withdrawal of all accounts permitted
  • Age 60: full withdrawal with no restrictions. Savings left in EPF keep earning dividends
Housing use
  • OA pays the downpayment, monthly instalments, stamp duty, and legal fees for HDB flats and private property
  • Subject to the Valuation Limit and, for private property, the Withdrawal Limit
  • Amounts used must be refunded to CPF with 2.5% accrued interest when you sell
  • Akaun Sejahtera funds buying or building a home, or reducing and settling a housing loan
  • A monthly instalment withdrawal option is available
  • No accrued interest refund is required when you sell the property
Investment options
  • CPF Investment Scheme for OA and SA, covering approved unit trusts, insurance products, bonds, and shares
  • OA investing is allowed above a S$20,000 buffer, SA above a S$40,000 buffer
  • Returns must beat the 2.5% or 4% floor rate to be worth the risk
  • EPF Members Investment Scheme through the i-Invest platform in i-Akaun
  • Only savings in Akaun Persaraan above an age-based basic savings threshold qualify, and only a capped share of that excess can be moved
  • Chosen funds can underperform the declared dividend
Healthcare coverage
  • MediSave is a dedicated healthcare account funded by every contribution
  • Pays MediShield Life premiums, hospital bills, day surgery, and approved outpatient treatment
  • Subject to the Basic Healthcare Sum cap, above which contributions overflow to other accounts
  • EPF has no dedicated medical account equivalent to MediSave
  • Critical illness withdrawals are made from Akaun Sejahtera for approved treatments and specified illnesses
  • Akaun Fleksibel can also cover medical costs since it has no purpose restriction
  • Public healthcare and separate insurance carry more of the load
Returns on balances
  • Legislated floor rates: 2.5% on OA, 4% on SA, MA, and RA
  • Extra interest applies on the first tranche of combined balances, with more for members aged 55 and above
  • Guaranteed and unaffected by market performance
  • An annual dividend declared by EPF based on actual investment returns
  • Historically around 5 to 6 percent, with separate conventional and shariah rates
  • Not guaranteed. A statutory minimum of 2.5 percent applies
Tax treatment
  • Employee contributions on Ordinary and Additional Wages are relievable against assessable income
  • CPF cash top-ups and SRS contributions attract further relief, within caps
  • Withdrawals and CPF LIFE payouts are not taxed
  • EPF contributions qualify for relief alongside life insurance premiums, up to MYR 7,000 combined under current LHDN rules
  • Voluntary top-ups through i-Saraan can attract a government contribution within annual limits
  • Withdrawals are not taxed

Scroll the table sideways on a small screen to see both columns.

Rates as of 2026. Verify with official sources before acting.

🏆 Which System Builds More Wealth?

There is no clean winner, because the two schemes are solving slightly different problems. CPF moves far more of your salary into savings, 37 percent of capped wages under 55 against 23 to 24 percent for EPF, and it earns a guaranteed floor rate that does not fall in a bad year. EPF puts less in but has historically paid a higher dividend, and it leaves the money far more accessible once you reach 55. Where you end up depends on how much salary flows in, what rate compounds it, and how much of it you can actually reach when you need it.

Where CPF is stronger

  • A much larger share of salary is saved automatically, which usually matters more than the rate
  • Floor rates of 2.5 and 4 percent are legislated, so a market downturn does not touch your balance
  • MediSave ring-fences money for healthcare, which removes a common source of retirement drawdown
  • CPF LIFE converts savings into a payout for life, so you cannot outlive the money
  • Extra interest on the first tranche of balances lifts the effective rate for smaller savers

Where EPF is stronger

  • Historical dividends around 5 to 6 percent have outpaced CPF floor rates over long periods
  • No monthly wage ceiling, so high earners keep contributing on their full salary
  • Full withdrawal at 55 or 60 with no annuity requirement gives real control over the money
  • Akaun Fleksibel provides liquidity at any age, which CPF has no equivalent to
  • Housing withdrawals carry no accrued interest refund when the property is sold
💡 The honest summary: CPF tends to accumulate more by retirement for a comparable career, driven by the higher contribution rate rather than the return. EPF gives you more control and more upside, but also more responsibility, because nothing forces the money to last. Neither is designed to be your only retirement plan. Singaporeans usually add SRS and investments; Malaysians usually add PRS, unit trusts, or personal investments. Comparing across the two is also complicated by cost of living: a smaller EPF balance in Malaysia may fund a similar lifestyle to a larger CPF balance in Singapore.
What this tool does not model: salary growth, promotions, career breaks, Additional Wage contributions on bonuses, the CPF Basic Healthcare Sum cap that redirects MediSave overflow, changes in contribution rates as you cross age bands, EPF Third Schedule rounding, or currency movements between now and retirement. Treat both projections as a rough scale check, not a forecast.

Related Tools and Guides

CPF Calculator
Your full monthly CPF split by age and PR status
Malaysia EPF Guide
Accounts, withdrawals, dividends, and tax relief
CPF Guide for Singapore
What OA, SA, and MediSave each do
Singapore vs Malaysia Salary
What the pay gap looks like after costs
Financial Health Quiz
14 questions on where your finances stand
Retirement Calculator
What you need beyond the national scheme

Frequently Asked Questions

What is the difference between CPF and EPF?

CPF is Singapore's mandatory savings scheme covering retirement, housing, and healthcare through the Ordinary, Special, and MediSave accounts. EPF is Malaysia's mandatory retirement savings scheme, split since 2024 into Akaun Persaraan, Akaun Sejahtera, and Akaun Fleksibel. The biggest structural differences are the total contribution rate, 37 percent of capped wages for CPF members under 55 against roughly 23 to 24 percent for EPF members under 60, and how returns are set. CPF pays legislated floor rates while EPF declares an annual dividend.

Which contributes more, CPF or EPF?

CPF contributes more as a share of salary. For employees aged 55 and below, CPF takes 20 percent from the employee and 17 percent from the employer, a combined 37 percent of wages up to the S$8,000 monthly Ordinary Wage ceiling. EPF for members under 60 takes 11 percent from the employee and 12 or 13 percent from the employer depending on whether monthly wages exceed MYR 5,000, a combined 23 to 24 percent with no equivalent monthly ceiling.

Can I use CPF or EPF to buy a home?

Yes in both, but through different accounts. In Singapore your CPF Ordinary Account can pay the downpayment, monthly instalments, stamp duty, and legal fees, subject to the Valuation Limit and Withdrawal Limit, and anything used must be refunded with accrued interest when you sell. In Malaysia, housing withdrawals come from Akaun Sejahtera and can buy or build a house or settle a housing loan, with no accrued interest refund requirement on sale.

When can I withdraw my CPF or EPF savings?

CPF members can withdraw at 55, but only the amount above the Full Retirement Sum, or above the Basic Retirement Sum if they own property with sufficient remaining lease. The rest funds CPF LIFE payouts starting between 65 and 70. EPF members can make a full or partial withdrawal from 55 and a complete withdrawal at 60, with no requirement to convert savings into an annuity, and Akaun Fleksibel can be withdrawn at any age.

Does CPF or EPF pay better returns?

They pay differently rather than one being simply better. CPF pays legislated floor rates of 2.5 percent on OA and 4 percent on SA, MA, and RA, plus extra interest on the first tranche of balances. These are guaranteed. EPF declares an annual dividend based on actual investment returns, historically around 5 to 6 percent but not guaranteed and lower in weak years. CPF trades upside for certainty, EPF trades certainty for upside.

Rates as of 2026. Verify with official sources before acting.
This tool produces estimates for comparison only and does not constitute financial advice. Contribution rates, allocation ratios, withdrawal sums, and dividend rates change. Confirm your own figures with CPF Board or KWSP before making any decision.

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⚠️ Financial Disclaimer: Rates as of 2026. Verify with official sources before acting. This tool is for informational purposes only and does not constitute financial advice.

Data Sources