If you use your CPF account to purchase funds from different fund houses (i.e. non-CPF Investment Administrator), you will incur CPF agent bank charges for each transaction. A CPF Investment Administrator is able to collate your purchases of funds from different fund houses and submit them to CPF collectively. In this case, you will only need to pay for one transaction each time, no matter how many fund houses you purchase from. Phillip Securities Pte Ltd is a CPF Investment Administrator and we are able to collate your CPF instructions.