You can purchase stocks, gold, Unit Trusts, ILPs. My recommendation would be to invest in a globally diversified portfolio with asset allocation according to your age and investment horizon using funds. You can speak to an FA like myself to set one up. It's cheaper now to invest using CPF then ever before and it's still quite possible to achieve a projected 6-8% returns per annum over a 10-20 year horizon from the approved fund list provided by CPF themselves. I've selected 6 of them to create such a global portfolio for my clients. The best part about investing your CPF is that, if at any time, there is a worry for an impending recession, you can always exit your positions and go back to earning a 2.5% interest on your OA.