CPFB Quiz 2021 for RHSO

Which year was CPF established in?

• 1965

• 1955

• 1995

• 1985

Answer explanation

CPF was established on 1 July 1955!

Which of the following is NOT a way to top up CPF?

• Cash top-up to Ordinary and MediSave accounts

• Transfer money from Ordinary account to Special account

• Cash top-up to Special accounts

• Transfer money from Special account to Ordinary account

Which of the following is NOT TRUE about the Matched Retirement Savings Scheme (MRSS)?

• MRSS was implemented in 2021

• MRSS will last for 5 years for a start

• If member is eligible for the first year, member will be automatically eligible in the following years

• CPF transfers are not eligible for matching grant under MRSS

Answer explanation

Eligibility for MRSS is assessed annually and members will be infirmed at the beginning of the year if they are eligible in that year.

Which of the following statements is false?

• CPF monies are safe and give risk-free returns

• CPF is only for the old

• CPF is used in our daily lives

• CPF contributions go into three accounts

What is the Basic Healthcare Sum (BHS) for CPF members aged below 65 in 2022?

• $66,000 and will remain fixed for the rest of their lives

• $66,000 and will be adjusted yearly

• $55,000 and will remain fixed for the rest of their lives

• $55,000 and will be adjusted yearly

Answer explanation

BHS is adjusted yearly to keep pace with the growth in MediSave use by the elderly but fixed once members turn age 65.

How many CPF Service Centres are there?

• 4

• 5

• 6

• 7

Answer explanation

Service Centre locations: CPF Maxwell, CPF Bishan, CPF, Jurong, CPF Woodlands, CPF Tampines

What housing expenses can your CPF pay for?

• Down payment and housing loan instalments

• Home Protection Scheme premiums

• Stamp duty and legal fees

• All of the above

What is the minimum age for Singaporeans/Permanent Residents employed under a contract of service to qualify for CPF contributions?

• 16 years old

• 18 years old

• 21 years old

• No minimum age

Answer explanation

As an employee, you are required to pay CPF contributions as long as you are a Singapore Citizen or Permanent Resident, and are employed in Singapore under a contract of service.

How can you make a CPF top-up?

• Through the myCPF mobile app only

• Through the CPF website

• Through GIRO only

• All of the above

Which of the following employee is NOT exempted from CPF contributions?

• Part-time Singaporean employee earning total wages of more than $50 per month

• Employee of any agency or institution of the United Nations Organisation stationed in Singapore

• Foreigners

• Domestic employees with employment not exceeding 14 hours in any week