How many years have you worked and contributed to
CPF? If you are Singaporean and have served
NS, and a degree graduate, you would at most be working for 3 years. Your
CPF would at most be $113k after 3 full years of contribution, contributing the maximum amount each year.
The
CPF is a unique savings scheme where even if you want to put in more money, it is not allowed. Each year, you are allowed to contribute a maximum of $37,740 and not more.
That said, there are ways to build up your
CPF.
One of the challenges my friends and I gave to ourselves (besides attaining certain networth by certain age) was to achieve $1m in our
CPF OA by 55.
One of our friends achieved that target at 55 yrs 4 months. My OA hit $1m only when I was 56yrs and 10months old!