Central Provident Fund. The Central Provident Fund (CPF) is a comprehensive social security savings plan to help Singaporeans save for their retirement. Each month, Singaporeans and their employers make monthly contributions to the CPF. These contributions go into three accounts for each employee: the Ordinary Account where savings can be used for housing, investments and CPF insurance; the Special Account where savings are meant for old age and investment in retirement-related financial products; and the Medisave Account, where savings can be used for hospitalisation expenses and approved medical insurance.