<source : http://app.mof.gov.sg/reserves.aspx>

Yes, all CPF monies are safe.

CPF monies are invested in bonds that are issued and guaranteed by the Singapore Government. The full resources of the Government are backing this guarantee that CPF monies will be paid back.

CPF monies are safe because:

a. The Government is in a strong reserves position, i.e. its assets far exceed its liabilities (of which CPF liabilities are a part of). The strong reserves position can be seen from the investment returns that are made available for spending on the Government Budget ‒ or Net Investment Returns Contribution (NIRC). The NIRC is currently about S$7 billion each year.

b. What this means is that even after deducting all the Government’s liabilities (including CPF monies), the remaining net assets produce significant returns. The NIRC of about S$7 billion is drawn from returns on assets in excess of the liabilities, not gross assets. (For more information, see summary under ‘Our Nation’s Reserves’, Section II.) It should be further noted that, as stipulated in the Constitution, the NIRC recorded in the Government Budget only comprises up to 50% of the returns earned on the reserves. The NIRC figures are submitted to the President’s Office and audited by the Auditor-General’s Office.

c. If the Government’s assets had not been adequate to meet its liabilities, there would be no contribution from the investment returns on reserves in the Government Budget.