Our esteemed NTUC Secretary-General Mr. Lim Swee Say was quoted,

“Every month, when I receive my CPF statement, I feel so rich and the best part is, I know the CPF money won’t run away. CPF will still be around for a long, long time to come… Not only is it earning good interest, my capital is protected.”

Whilst he may have his CPF statements automatically mailed to him each month, most of us have to make do with semi-annual statements that the CPF sends us as nowadays you are expected to check your CPF balances online each month through the CPF website.

How to check your CPF account balances online

Checking your CPF online account is quite easy. What you need is [1] internet access, [2] Singpass User ID and password and [3] IT skills to know how to access [1] and [2] and navigate to www.cpf.gov.sg.

If you can read this post, it’s likely you have solved issue number 1 and 3. So you just need to get your hands on Singpass which is free-of-charge.

Getting your Singpass is relatively easy. If you have forgotten your Singpass password, you can apply online here if you belong to one of the following groups. Your Singpass login ID is your NRIC number for Singapore Citizens/PRs. It takes 4 working days for your new password to be mailed to your registered address as per your NRIC:

• Singapore Citizen and Permanent Resident
• Employment Pass and Personalised Employment Pass holders
• Entrepreneur Pass holders
• S-Pass holders
• Dependent Pass holders (of EP, PEP, EntrePass and S-Pass holders)
• Selected Work Permit Holders

If you are unable to wait, you can bring your identity document and get immediate Singpass password issuance at most of the Community Clubs or CPF Branch Offices located throughout Singapore.

Why Check Your CPF Balances?

I update my personal net worth each month to see if I’m moving closer or further away from my target for financial freedom. As CPF monies are part of my retirement funds, it is useful to get a sense of how much you’ve managed to put aside and your balances in your ordinary account, special account as well as medisave account. 

Some investors make use of available ordinary account monies to invest in stocks and shares for better returns. Others leave their monies inside their CPF to earn the 2.5% +1% (the additional 1% is paid on ordinary account subject to cap of first $20,000) or 4%+1% returns (for medisave and special accounts subject to total cap of $60,000 inclusive of $20k for ordinary account) . The additional 1% is applicable under 31 December 2009. So far there has been no update if the Government will extend this 1%.

If you are serious about financial freedom, you would have to get serious about knowing your personal net worth on a regular basis. Knowing how to check your CPF online is one of the ways to keeping updated with your own monies.

So do you track your CPF monies as part of net worth? Share with Panzer in the comments section.

Be well and prosper.

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