CPF & retirement
| CPF | Your compulsory national savings. Contributions from you and your employer are split across three accounts, for housing, healthcare and retirement. |
| Ordinary Account (OA) | The CPF pot you can use for housing, and some investing. Earns a 2.5% government-backed floor. |
| Special Account (SA) | The retirement-focused CPF pot. Earns a 4% government-backed floor — one of the strongest low-risk returns you'll be offered. |
| MediSave (MA) | The CPF pot ring-fenced for healthcare and approved insurance premiums. |
| Retirement Account (RA) | Formed at 55 from your OA and SA savings, up to a Retirement Sum. It funds your CPF LIFE payouts. |
| CPF LIFE | The national annuity that turns your Retirement Account into income for life, starting between 65 and 70. |
| BRS / FRS / ERS | The Basic, Full and Enhanced Retirement Sums — three savings targets at 55 that set how large your lifelong payout will be. |
| RSTU | The Retirement Sum Topping-Up scheme — voluntary cash top-ups to a CPF retirement pot that earn 4% and give income-tax relief. |
| BHS | The Basic Healthcare Sum — the ceiling on how much MediSave can hold, adjusted yearly. |
Housing
| HDB | The Housing & Development Board — the public housing most Singaporeans live in. |
| BTO | Build-To-Order — a new HDB flat bought off-plan, cheaper but with a wait and a minimum occupancy period. |
| Resale flat | An existing HDB flat bought on the open market — available now, at a market price. |
| MOP | Minimum Occupation Period — how long you must live in a flat before you can sell or rent it out. |
| LTV | Loan-To-Value — the share of a property's price you're allowed to borrow (up to 75% for an HDB loan). |
| MSR | Mortgage Servicing Ratio — your home-loan repayment is capped at 30% of gross monthly income for HDB flats. |
| TDSR | Total Debt Servicing Ratio — all your debt repayments are capped at 55% of gross monthly income. |
| CPF accrued interest | The 2.5% you must refund to your own CPF, on top of the CPF you used for a home, when you sell. It goes back into CPF, not your pocket. |
| EHG | The Enhanced CPF Housing Grant — income-scaled help of up to $120,000 for first-timer families. |
Insurance
| Term life | Pure protection for a set period — cheap cover that pays out if you die or are totally disabled, with nothing skimmed for savings. |
| Whole life | Lifelong cover bundled with a slow-growing cash value — far more expensive per dollar of protection. |
| ILP | Investment-Linked Policy — insurance wrapped around investments, typically with layered fees and commission. |
| TPD | Total and Permanent Disability — a condition that stops you working, usually covered alongside death in a term policy. |
| MediShield Life | The national health insurance that covers large hospital bills for every citizen and PR, for life. |
| Integrated Shield Plan (IP) | An optional top-up over MediShield Life for higher wards or private hospitals. |
| CareShield Life | National long-term-care insurance — a modest lifelong monthly payout (about $689 in 2026) if you become severely disabled. |
| DPI | Direct Purchase Insurance — no-commission term and whole-life cover you buy straight from insurers, up to a limit. |
| Income protection | Cover that replaces a portion of your income if illness or injury stops you earning. |
Tax & schemes
| SRS | The Supplementary Retirement Scheme — a voluntary account whose contributions cut your income tax now, with special treatment at retirement. |
| Relief cap | The $80,000 ceiling on total personal income-tax reliefs you can claim in a year, across everything combined. |
| YA | Year of Assessment — the year your income is taxed (income earned in 2025 is taxed in YA2026). |
| Baby Bonus | A cash gift from the government for each child, paid over the early years. |
| CDA | Child Development Account — a savings account for a child that the government part-funds and dollar-for-dollar matches. |
| CPFIS | The CPF Investment Scheme — the option to invest your CPF. Most who try it have historically trailed simply leaving it untouched. |
Investing
| Index fund / ETF | A fund that simply holds a whole market at low cost, rather than trying to pick winners. |
| STI ETF | A fund tracking Singapore's Straits Times Index — about 30 local companies, heavily weighted to a few banks. |
| Expense ratio | The yearly fee a fund charges, as a percentage. Small differences compound into large ones over decades. |
| Diversification | Spreading money across many holdings so no single failure can sink you. |
| Dollar-cost averaging | Investing a fixed amount regularly, so you buy through ups and downs instead of trying to time the market. |
Estate & legacy
| Will | The document that says who inherits your assets after death — and can name a guardian for your children. |
| LPA | Lasting Power of Attorney — names who acts for you if you lose mental capacity while alive. Free for citizens to register. |
| CPF nomination | A five-minute form deciding where your CPF goes when you die. Without it, the Public Trustee decides, with fees and delay. |
| Intestacy | What happens with no will — the law divides your estate by fixed rules, which may not give your spouse everything. |
| Faraid | Islamic inheritance law under AMLA, which governs how a Muslim's estate is distributed in Singapore. |
Still unsure about a term?
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A note
Definitions are simplified for clarity and reflect the position as of July 2026; rules and figures change over time. General information, not financial advice. Jonathan Wong is a licensed financial adviser representative in Singapore, currently between firms — during that period he is not able to provide financial advice. You can check his registration yourself on the MAS Financial Institution Representatives Register at eservices.mas.gov.sg/rr.