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CPF LIFECPF LIFE<p> <b>What is CPF LIFE?</b> </p><p>The CPF <b>L</b>ifelong <b>I</b>ncome <b>F</b>or The <b>E</b>lderly (CPF LIFE) Scheme is a life annuity scheme<span class="cpf-tooltip"><span class="cpf-tooltip-link" data-placement="bottom" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="As a life annuity, CPF LIFE provides lifelong payouts. This is unlike term annuities which only provide payouts for a limited period only."><span class="glyphicon glyphicon-question-sign"></span> </span> </span> that provides Singapore Citizens and Permanent Residents with a monthly payout for as long as they live.<br></p><p> <a href="/Members/Schemes/schemes/retirement/cpf-life/resourcestab/">Explore 5 CPF LIFE Quick Facts</a></p>TrueTrueTrueOthers;#

 

 

UnderstandWhy do we need CPF LIFE? <p>With increasing advances in technology and healthcare, we are likely to live longer than our grandparents’ or parents’ generation. While we might have more time to live our lives to the fullest, it also means that we need to be prepared for a longer retirement.<br></p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;height:auto;"><p style="text-align:center;"> <strong style="font-size:16px;">DID YOU KNOW?</strong></p><p style="text-align:center;">The figure below shows the life expectancy rates at age 65 <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-title="Life expectancy is the average number of additional years a person could expect to live." data-trigger="click" data-toggle="tooltip" data-html="true" data-placement="auto"> <span class="glyphicon glyphicon-question-sign"></span> </span> </span> published by the Department of Statistics.<br></p><p style="text-align:center;"> <img class="img-responsive" alt="Life Expectancy Statistics" src="/assets/members/PublishingImages/LifeExpectancyStatistics.png" /> </p><p style="text-align:center;">These statistics give us a snapshot of life expectancy. However, with advances in technology and healthcare, life expectancy is likely to improve over time as younger cohorts are healthier.</p></td></tr></tbody></table> <br> <p>Against the backdrop of rising longevity, and the difficulty of predicting exactly how long we will live, we face some uncertainty on planning for our retirement. There is a real possibility that we may not be adequately prepared for a longer retirement, and risk outliving our retirement savings. </p><p>Peace of mind is important for retirement, in order to fully enjoy the type of retirement lifestyle we want in our golden years. </p><p> <strong>CPF LIFE can help you achieve peace of mind during your retirement.</strong> It is a life annuity, which means that you will receive a regular stream of income for<strong> as long as you live</strong>. You can therefore enjoy your retirement without the worry of outliving your savings.<br></p><div class="cms-collapse" data-ans="<span style="font-size: 16px;"><strong>What is an Annuity? </strong></span><br/><br/><p>An annuity is a financial product designed to convert an individual’s savings into a stream of regular payments during an individual’s retirement years.</p><p>An annuity can be structured to provide cash flow for a specific period (Term Annuity) or for the rest of one’s lifetime (Life Annuity). Life Annuity can also be considered an insurance product that insures one against the risk of outliving one’s savings.</p><p><img src="/assets/members/PublishingImages/TypesOfAnnuity.png" alt="Types Of Annuity" class="img-responsive"></p><span style="font-size: 16px;"><br/><strong>What Type of Annuity is CPF LIFE?</strong></span><br/><br/><p>CPF LIFE, as the name suggests, is a life annuity. Unlike term annuities, CPF LIFE provides the assurance of a payout stream for as long as you live. As with other insurance schemes, CPF LIFE is able to do so via risk-pooling. This means that the interest earned on the annuity premium is pooled among the surviving members, ensuring that no CPF LIFE member will run out of retirement payouts in old age. </p>" data-qn="Learn more about annuities"> </div>CPF LIFE15221522
UnderstandHow is CPF LIFE attractive?<p>CPF LIFE is an attractive retirement scheme as it provides:<br></p><table bordercolor="#ffd966" border="1" style="width:100%;height:70px;text-align:center;"><tbody><tr><td style="width:25%;background-color:#ffd966;"> <strong>PAYOUTS FOR LIFE</strong></td><td style="padding:5px;width:75%;">​CPF LIFE provides you with a stream of retirement payouts for as long as you live, compared to most private annuities that only do so for a limited period.<br></td></tr></tbody></table><div class="cms-collapse" data-ans="<strong>How does CPF LIFE provide payouts for life?</strong></p><p>Members who join CPF LIFE commit a sum of CPF savings to a CPF LIFE plan. This sum is known as the CPF LIFE annuity premium. Interest subsequently earned on the CPF LIFE annuity premium is pooled into the Lifelong Income Fund. Each member’s premium is first used to provide them with monthly CPF LIFE payouts. When the premium is exhausted, the member will continue to receive monthly payouts from the pooled interest for as long as they live. This pooling of interest is what protects members from the risk of outliving their savings. If members pass on before their premiums have been exhausted, the unused premiums (without interest) will be distributed to their nominees. </p><br/><p><strong>Does this mean my interest is lost?</strong></p><p>It is incorrect to view the pooled interest as “lost”, because the projected interest is factored into the computation of members’ monthly payouts from the start. Furthermore, every CPF LIFE member has a chance to draw on the pooled interest once their own premiums have been fully paid out. Depending on one’s longevity, one may receive back even more than the combination of the annuity premium paid and the interest contributed to the interest pool. </p><br/><p><strong>What is the benefit of pooling my interest this way?</strong></p><p>The pooling of interest allows all participants to protect themselves against the risk of outliving their savings. Risk sharing is common in all types of insurance, including car insurance (the risk of encountering an accident is shared) and life insurance (the risk of dying is shared). In CPF LIFE, risk sharing (of longevity risk) ensures that CPF LIFE members would never encounter a situation where they run out of income in their old age, where income may be hardest to come by. Also, as the interest earned is risk-free and the membership pool is large, CPF LIFE members receive one of the highest payouts per dollar of premium, compared to similar annuity products in the market.</p>" data-qn="Learn more about how CPF LIFE can provide a lifelong income"> </div> <table bordercolor="#ffd966" border="1" style="width:100%;height:70px;text-align:center;"><tbody><tr><td style="width:25%;background-color:#ffd966;"> <strong>VALUE FOR MONEY</strong></td><td style="padding:5px;width:75%;">​CPF LIFE provides one of the <strong>highest payouts for every dollar committed</strong> compared to other private annuities.<br></td></tr></tbody></table><div class="cms-collapse" data-ans="<p> <span style="font-size: 16px;"><strong>CPF LIFE Provides High Payouts per Premium Dollar Committed</strong></span></p><p>Between two annuities with similar features, the one that gives a higher payout for the same amount of premium put in is more attractive. This can be compared by looking at the annuity rate of each annuity product. <strong>The CPF LIFE Standard Plan provides a high annuity rate of around 7%*</strong> (Note: Annuity Rate is not the Interest Rate).</p><p>This compares favourably with similar life annuities offered locally and in other countries such as the U.K. that offer lower annuity rates of around 5%.</p><p> <span style="font-size: 0.9em;">*For a male member who commits S$100k to the CPF LIFE Standard Plan at age 65</span></p><br/> <div class="hidden-xs"><table width="100%" align="center" class="ms-rteTable-default" cellspacing="0"> <tbody> <tr> <td class="ms-rteTable-default" style="width: 100%;">&#8203;<strong>What is an annuity rate?</strong> <br/><br/> <p>An annuity rate describes the amount of regular payout that one will receive in return for a sum committed to the annuity, and is a useful metric for comparison among similar annuities (Note: Annuity Rate is not the Interest Rate).</p> <table align="center" style="width: 70% !important; text-align: center;" border="0"> <tbody> <tr> <td valign="center" style="width: 10%;" rowspan="2"> <strong>Annuity Payout Rate </strong></td> <td valign="center" style="width: 1%;" rowspan="2"> <strong>=&#8203;</strong></td> <td valign="center" style="width: 13%;"> <i><strong>Payout over 12 months <hr style="border-color: rgb(0, 0, 0); width: 90%; margin-top: 5px; margin-bottom: 5px;"></strong></i></td> <td valign="center" style="width: 1%;" rowspan="2"><strong>x</strong></td> <td valign="center" style="width: 3%; text-align=center;" rowspan="2"> <strong>100%</strong></td> </tr> <tr style="text-align: center;"> <td valign="center" style="width: 13%;"> <strong><em>Premium Committed<br></em></strong></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </div> <div class="visible-xs"><table width="100%" align="center" class="ms-rteTable-default" cellspacing="0"> <tbody> <tr> <td class="ms-rteTable-default" style="width: 100%;">&#8203;<strong>What is an annuity rate?</strong> <br/><br/> <p>An annuity rate describes the amount of regular payout that one will receive in return for a sum committed to the annuity, and is a useful metric for comparison among similar annuities (Note: Annuity Rate is not the Interest Rate).</p> <table align="center" style="width: 100%; text-align: center;" border="0"> <tbody> <tr> <td valign="center" style="width: 10%;" rowspan="2"> <strong>Annuity Payout Rate </strong></td> <td valign="center" style="width: 2%;" rowspan="2"> <strong>=&#8203;</strong></td> <td valign="center" style="width: 13%;"> <i><strong>Payout over 12 months <hr style="border-color: rgb(0, 0, 0); width: 90%; margin-top: 5px; margin-bottom: 5px;"></strong></i></td> <td valign="center" style="width: 1%;" rowspan="2"><strong>x</strong></td> <td valign="center" style="width: 4%; text-align=center;" rowspan="2"> <strong>100%</strong></td> </tr> <tr style="text-align: center;"> <td valign="center" style="width: 13%;"> <strong><em>Premium Committed<br></em></strong></td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </div> <p><br> <span style="font-size: 16px;"><strong>How is CPF LIFE Able to Provide More Value?</strong></span></p><p> <strong> <i>1) CPF LIFE provides high, risk-free returns of up to 6% p.a.</i></strong></p><p>CPF LIFE monies are invested in Special Singapore Government Securities (SSGS), which are guaranteed by the Singapore Government, and provide high, risk-free returns of up to 6% p.a. Annuities offered by the private sector do not have access to these SSGS instruments.</p><p> <br/> <strong> <i>2) CPF LIFE pools mortality risk more effectively</i></strong></p><p>As a national scheme, CPF LIFE has a large member base, and is hence able to pool mortality risk<span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="Mortality risk is the risk associated with members’ life expectancy and death – It refers to the risk of members living longer than expected."> <span class="glyphicon glyphicon-question-sign"></span></span></span> from a larger portion of the population. This means that CPF LIFE is less exposed to the adverse selection <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="Adverse selection is a situation where an individual has more information about his risk (e.g. health condition) than the insurer. This means that those with higher risk would be more likely to opt for insurance than one with lower risk, which could cause insurers to charge higher premiums."> <span class="glyphicon glyphicon-question-sign"></span></span></span> risk that private insurers typically face.</p><p> <br/> <strong> <i>3) Greater economies of scale, lower costs</i></strong></p><p>Being non-profit and administered by the CPF Board, the CPF LIFE scheme does not incur distribution costs from agents’ commissions. Costs can also be better spread out with CPF LIFE’s large member base.</p>" data-qn="Learn more about CPF LIFE’s high annuity rates"> </div><table bordercolor="#ffd966" border="1" style="width:100%;height:70px;text-align:center;"><tbody><tr><td style="width:25%;background-color:#ffd966;"> <strong>SAFE PRODUCT</strong></td><td style="padding:5px;width:75%;">​CPF LIFE is the only life annuity backed by the Singapore Government.</td></tr></tbody></table><div class="cms-collapse" data-ans="<p> <span style="font-size: 16px;"><strong>CPF LIFE Protects Against Investment Risk</strong></span></p> <p>CPF LIFE monies are invested in Special Singapore Government Securities (SSGS), which are guaranteed by the AAA-rated Singapore Government. Proceeds from SSGS issuance, together with the rest of the Singapore Government’s funds, are invested by the Government. Singapore’s strong government balance sheet enables it to withstand market cycles and meet its guaranteed liabilities, including its SSGS commitments. <strong>This means that CPF members bear little to no investment risk on their CPF balances.</strong></p> " data-qn="Learn more about how CPF LIFE protects you from investment risks" style="text-align:left;"> </div>CPF LIFE23001748
UnderstandWill I lose all my money if I pass away early?<p>When you pass away, we will refund any remaining Retirement Account savings along with all your unused CPF LIFE annuity premiums (without interest). This means that you and your loved ones will always get back at least the amount that you have put into CPF LIFE, in the form of payouts and/or bequest, no matter what age you live to.</p><div class="hidden-xs"> <img class="img-responsive" alt="Life payouts you received during your lifetime together with your bequest you leave behind for your loved ones will always be larger or equal to the principal amount you have put into CPF LIFE." src="/assets/members/PublishingImages/LIFEPayouts_Bequest_Desktop.png" /> </div><div class="visible-xs"> <img class="img-responsive" alt="Life payouts you received during your lifetime together with your bequest you leave behind for your loved ones will always be larger or equal to the principal amount you have put into CPF LIFE." src="/assets/members/PublishingImages/LIFEPayouts_Bequest_Mobile.png" /> </div> <br>CPF LIFE23011749
UnderstandWhat must I do to be included in CPF LIFE?<p>It is easy to join CPF LIFE!</p><p style="text-align:center;"> <img alt="Who Is CPF LIFE For" src="/Assets/members/PublishingImages/WhoisCPFLIFEfor.png" style="width:60%;" /> <br></p><p style="text-align:center;"> <strong>CPF members who meet the criteria will<br><u>automatically</u> enjoy lifelong retirement income through CPF LIFE</strong></p><p>​ </p><p>You will automatically be included in CPF LIFE to enjoy lifelong payouts if:</p><ul><li>you are a Singapore Citizen or Permanent Resident born in 1958 or after <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="If you turned 55 between 1 January 2013 and 30 April 2016, you will also join CPF LIFE if you have at least $40,000 in your Retirement Account when you reach 55 years old."> <span class="glyphicon glyphicon-question-sign"></span> </span> </span> ; and<br></li><li>have at least $60,000 in your Retirement Account <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="At age 55, your Retirement Account (RA) is created with savings from your Special Account (SA) and Ordinary Account (OA)."> <span class="glyphicon glyphicon-question-sign"></span> </span> </span> six months before you reach your payout eligibility age (PEA) <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="Payout eligibility age (previously known as drawdown age) is the age which CPF members are eligible to receive CPF payouts. <br/> <table class='table table-bordered'><tbody><tr><th><b>Year</br>of Birth</b></th><th>1943 and<br>before<br></th><th>1944<br>to<br>1949</th><th>1950<br>and<br>1951</th><th>1952<br>and<br>1953</th><th>1954<br>and<br>after</th></tr><tr><td style='padding:0!important'><b>Payout<br>Eligibility<br> Age</b></td><td>60</td><td>62</td><td>63</td><td>64</td><td>65</td></tr></tbody></table>"> <span class="glyphicon glyphicon-question-sign"></span> </span> </span>. </li></ul><p>If you are a Singaporean Citizen or Permanent Resident who does not meet the above requirements, you can still apply to join CPF LIFE and start receiving lifelong income, at any time between your payout eligibility age and one month before you turn 80 <span class="cpf-tooltip"> <span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="Even if you have started receiving payouts under the Retirement Sum Scheme, you can apply to switch to join the CPF LIFE scheme instead."> <span class="glyphicon glyphicon-question-sign"></span> </span> </span> years old. </p>CPF LIFE15371537
EvaluateWhat are the CPF LIFE plans available?<p>There are three CPF LIFE plans for you to choose from – the LIFE Standard Plan, the LIFE Escalating Plan and the LIFE Basic Plan.</p><p>The plans differ in terms of the <strong>monthly payout</strong> you would receive.<br></p><div class="hidden-xs"> <img class="img-responsive" alt="CPF LIFE Plans" src="/Assets/members/PublishingImages/CPFLIFE3plansavailable.png" /> <br> </div><div class="visible-xs"> <img alt="CPF LIFE Plans" src="/Assets/members/PublishingImages/CPFLIFE3Plans_MthlyPayouts.png" style="width:87%;height:auto;" /> </div> <span style="font-size:0.9em;"><strong>*The Basic Plan monthly payouts will reduce gradually when your combined CPF balances (including unused CPF LIFE annuity premiums) fall below $60,000. This is due to less extra interest earned.</strong></span> <p> <span style="font-size:0.9em;">Note: For all CPF LIFE plans, payouts may be adjusted to account for long-term changes in interest rates or life expectancy. Such adjustments (if any) are expected to be small and gradual.</span></p> CPF LIFE15331533
EvaluateHow much will my CPF LIFE payout be? <p>Your CPF LIFE monthly payouts would depend on factors such as your gender, age, Retirement Account (RA) savings used to join CPF LIFE, the LIFE plan type you choose, CPF interest rates and mortality rates. The premiums and payouts are determined by an independent actuarial consultant.</p><p>The table below provides you with an estimate of the monthly payout you will receive in retirement based on the Retirement Sum set aside at age 55 and the different plan choices:<br></p><div style="text-align:center;"> </div><div class="hidden-xs"><table width="100%" class="ms-rteTable-default" cellspacing="0" style="height:80px;"><tbody><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" style="width:25%;"> <strong>​Retirement Account Savings at 55</strong><br></td><td class="ms-rteTableOddCol-default" colspan="3" style="width:75%;padding-top:15px;"> <strong>Your monthly payout for life<span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="These monthly payouts are estimates. Payouts may also be adjusted to account for long-term changes in interest rates or life expectancy. Such adjustments (if any) are expected to be small and gradual." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span> </span> </span> from 65 onwards​</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;"><div style="text-align:center;">​</div> <br style="color:#ffffff;"> </td><td class="ms-rteTableOddCol-default" rowspan="1" style="padding:20px;width:25%;text-align:center;background-color:#ed7d31;"><div> <strong style="color:#ffffff;">​Standard Plan </strong></div><div> <i style="color:#ffffff;"><strong>(default plan)</strong></i><br></div></td><td class="ms-rteTableOddCol-default" rowspan="1" style="padding:10px;width:25%;text-align:center;background-color:#7bb952;"> <span style="color:#ffffff;"><strong><br>Escalating Plan​</strong></span></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:10px;width:25%;text-align:center;background-color:#4472c4;"> <span style="color:#ffffff;"><strong><br>Basic Plan*</strong></span></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:15px;width:25%;text-align:center;"> <strong>Basic Retirement Sum</strong><span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you own a property with remaining lease that can last you to at least 95 years old and choose to withdraw your Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Sum Topping-up scheme) above your BRS." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span><br></span></span><br>(BRS)<br><strong>$88,000</strong></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#fbe5d6;"> $730 - $790<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:15px;background-color:#e2f0d9;">$570 - $620<br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;">Payouts increase by 2% every year ​</span><br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#deebf7;">$690 - $720</td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:25px;"> <span style="color:#444444;">​<strong>Full Retirement Sum</strong><span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you do not own a property or choose not to withdraw your Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Topping-up scheme) above your BRS." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span> </span> </span> <br> <span>(FRS)</span><br><strong>$176,000</strong><span> </span></span></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#fbe5d6;"> <span style="color:#444444;">$1,350 - $1,450</span></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:15px;background-color:#e2f0d9;"> <span style="color:#444444;"><span>$1,040 - $1,140​</span><br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;">Payouts increase by 2% every year ​</span></span></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#deebf7;"> <span style="color:#444444;">$1,280 - $1,320</span></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:15px;padding-bottom:15px;"> <span style="color:#444444;">​<strong>Enhanced Retirement Sum</strong><span class="cpf-tooltip" style="color:#444444;"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you wish to put more savings in CPF LIFE." data-placement="auto" data-html="true" data-trigger="click" style="color:#444444;"><span class="glyphicon glyphicon-question-sign"></span> </span> </span> <br> <span>(ERS)</span><br><strong>$264,000</strong></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#fbe5d6;"> <span style="color:#444444;">$1,960 - $2,110​</span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:15px;background-color:#e2f0d9;"> <span style="color:#444444;"> <span>$1,510 - $1,660</span><br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;"><span>Payouts increase by 2% every year </span>​</span></span></td><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;text-align:center;padding-top:45px;background-color:#deebf7;"> <span style="color:#444444;">$1,860 - $1,920​</span></td></tr></tbody></table></div> <br> <div class="visible-xs"><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" colspan="2" style="width:50%;"><div style="text-align:center;">​<strong>Basic Retirement Sum</strong><span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you own a property with remaining lease that can last you to at least 95 years old and choose to withdraw your Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Sum Topping-up scheme) above your BRS." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span><br></span></span><br>(BRS) at age 55<br><strong>$88,000</strong></div></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" colspan="2" style="width:50%;"> <strong>​Monthly Payout for life from age 65 onwards</strong><br></td></tr><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;background-color:#ed7d31;"> <span style="color:#ffffff;">​Standard Plan <em>(default plan)</em></span><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;padding-top:35px;background-color:#fbe5d6;"> <span style="color:#444444;">​$730 - $790</span></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:35px;background-color:#7bb952;">​<span style="color:#ffffff;">Escalating Plan</span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;background-color:#e2f0d9;">​<span style="color:#444444;">$570 - $620<br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;">Payouts increase by 2% every year ​</span></span></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;text-align:center;background-color:#4472c4;">​<span style="color:#ffffff;">Basic Plan </span></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:25px;background-color:#deebf7;"> <span style="color:#444444;">​$690 - $720​</span><br></td></tr></tbody></table><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" colspan="2" style="width:50%;"><div style="text-align:center;">​<strong>Full Retirement Sum</strong><span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you do not own a property or choose not to withdraw your Retirement Account savings (excluding interest earned, any government grants received and top-ups made under the Retirement Topping-up scheme) above your BRS." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span><br></span></span><br>(FRS) at age 55<br><strong>$176,000</strong></div></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" colspan="2" style="width:50%;">​<strong>Monthly Payout for life from age 65 onwards</strong><br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;text-align:center;background-color:#ed7d31;"> <span style="color:#ffffff;">​Standard Plan <em>(default plan)</em></span><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:35px;background-color:#fbe5d6;"> <span style="color:#444444;">​$1,350 - $1,450</span></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:35px;background-color:#7bb952;">​<span style="color:#ffffff;">Escalating Plan </span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;background-color:#e2f0d9;">​<span style="color:#444444;">$1,040 - $1,140<br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;">Payouts increase by 2% every year ​</span></span></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;text-align:center;background-color:#4472c4;">​<span style="color:#ffffff;">Basic Plan </span></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:25px;background-color:#deebf7;"> <span style="color:#444444;">$1,280 - $1,320​</span><br></td></tr></tbody></table><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" colspan="2" style="width:50%;"><div style="text-align:center;">​<strong>Enhanced Retirement Sum</strong><span class="cpf-tooltip"><span class="cpf-tooltip-link" data-toggle="tooltip" data-title="If you wish to put more savings in CPF LIFE." data-placement="auto" data-html="true" data-trigger="click"><span class="glyphicon glyphicon-question-sign"></span><br></span></span><br>(ERS) at age 55<br><strong>$264,000</strong></div></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" colspan="2" style="width:50%;"> <strong>​Monthly Payout for life from age 65 onwards</strong><br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;text-align:center;background-color:#ed7d31;"> <span style="color:#ffffff;">​Standard Plan <em>(default plan)</em></span><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:35px;background-color:#fbe5d6;"> <span style="color:#444444;">​$1,960 - $2,110</span></td></tr><tr><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:35px;background-color:#7bb952;">​<span style="color:#ffffff;">Escalating Plan </span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;background-color:#e2f0d9;">​<span style="color:#444444;">$1,510 - $1,660<br><i style="font-size:0.9em;">(initial amount)</i><br style="font-size:0.9em;"><span style="font-size:0.9em;">Payouts increase by 2% every year ​</span></span></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="padding:25px;width:50%;text-align:center;background-color:#4472c4;">​<span style="color:#ffffff;">Basic Plan </span></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;text-align:center;padding-top:25px;background-color:#deebf7;"> <span style="color:#444444;">$1,860 - $1,920</span><br></td></tr><tr class="ms-rteTableFooterRow-default"></tr></tbody></table></div><p> <span style="font-size:0.9em;"><strong>*The Basic Plan monthly payouts will reduce gradually when your combined CPF balances (including unused CPF LIFE annuity premiums) fall below $60,000. This is due to less extra interest earned.</strong></span></p><p> <span style="font-size:0.9em;">Note: These monthly payouts are estimates and computed as of 2019. Payouts may also be adjusted to account for long-term changes in interest rates or life expectancy. Such adjustments (if any) are expected to be small and gradual.</span></p><p>The <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator"> CPF LIFE Estimator</a> can help you to estimate your monthly LIFE payout and the bequest for the different plans depending on your Retirement Account savings.</p>CPF LIFE15341534
EvaluateWhen do I need to choose my CPF LIFE plan?<p>You will only need to choose your CPF LIFE plan when you wish to start receiving your CPF LIFE monthly payouts (between payout eligibility age <span class="cpf-tooltip"><span class="cpf-tooltip-link" data-placement="auto" data-html="true" data-toggle="tooltip" data-trigger="click" data-title="Payout eligibility age (previously known as drawdown age) is the age which CPF members are eligible to receive CPF payouts. <br/> <table class='table table-bordered'><tbody><tr><th><b>Year</br>of Birth</b></th><th>1943 and<br>before<br></th><th>1944<br>to<br>1949</th><th>1950<br>and<br>1951</th><th>1952<br>and<br>1953</th><th>1954<br>and<br>after</th></tr><tr><td style='padding:0!important'><b>Payout<br>Eligibility<br> Age</b></td><td>60</td><td>62</td><td>63</td><td>64</td><td>65</td></tr></tbody></table>"><span class="glyphicon glyphicon-question-sign"></span> </span> </span> to 70). </p><p>We will write to you six months before your payout eligibility age to further explain the options you have and the choices you have to make. </p><p> <img src="/Assets/members/PublishingImages/CPFLIFEPlanSelectionPeriod.png" alt="CPF LIFE Plan Selection Period" class="img-responsive" /> </p>CPF LIFE15271527
EvaluateHow can I increase my CPF LIFE monthly payouts?<ol><li style="margin-bottom:5pt;">If you would like to receive higher payouts, you or your loved ones can make <a href="/Members/Schemes/schemes/retirement/retirement-sum-topping-up-scheme#Item1594">cash top-ups or CPF transfers</a> (or both) into your Retirement Account. You may top up your Retirement Account to the prevailing Enhanced Retirement Sum<span class="cpf-tooltip"><span class="cpf-tooltip-link" data-title="The prevailing ERS is $264,000." data-trigger="click" data-toggle="tooltip" data-html="true" data-placement="auto"><span class="glyphicon glyphicon-question-sign"></span> </span> </span> .<br></li><li style="margin-bottom:5pt;">You also have the option to start your CPF LIFE payouts later, up to age 70. Doing so enables your CPF savings to accumulate interest, and this will boost your future retirement income. This is an option to consider, especially if you are still working or have other sources of income. Your CPF LIFE monthly payouts will increase by up to 7% for each year that you defer receiving your payouts. </li></ol><p> <img class="img-responsive" alt="Option to defer and receive higher payouts" src="/Assets/members/PublishingImages/IncreasePayouts.png" /> </p>CPF LIFE15351535
EvaluateHow will I receive my CPF LIFE monthly payout?<p>The monthly payouts from CPF LIFE will be paid directly into your bank account through Inter-Bank GIRO (IBG) by the 4th working day of each month.</p><p>If the IBG is unsuccessful because you have closed your bank account, the CPF LIFE payouts will be paid into your CPF Ordinary Account.</p>CPF LIFE19021736
ApplyHow do I apply to join CPF LIFE?<p> <strong>Online using <em> <strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application via My Requests.</li></ol><p> <strong>In-Person at CPF Service Centres</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank">Form LID-APP(1): Application for CPF LIFE</a> (PDF, 0.5MB). </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us">CPF Service Centre</a>.</li></ol><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank">Form LID-APP(1): Application for CPF LIFE</a> (PDF, 0.5MB). </li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br></li></ol>CPF LIFE15381538
ApplyAs a LIFE member, how do I apply for additional CPF LIFE annuity for my topped up monies?<p>If you are already participating in CPF LIFE and would like to increase your payouts for life, you can top-up to your RA and buy an additional CPF LIFE annuity.</p><p> <strong>Online using <em> <strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application for Additional Annuity via My Requests.</li></ol><p> <strong>In-Person at CPF Service Centres</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank">Form LID-APP(1A): Application for Additional Annuity under CPF LIFE</a> (PDF, 0.4MB). </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us">CPF Service Centre</a>.</li></ol><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank">Form LID-APP(1A): Application for Additional Annuity under CPF LIFE</a> (PDF, 0.4MB). <br></li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br></li></ol><p>You can refer to our <a href="/Members/AboutUs/about-us-info/service-standards-for-members/retirement">service standards</a> for more information.</p>CPF LIFE23101750

 

 

 

 

CPF LIFE Estimator CPF LIFE Estimator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">CPF Life Estimator</a>

 

 

How much CPF LIFE monthly payouts will I receive?<a href="https://www.youtube.com/embed/5vfb4bc5ZJA"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">How much CPF LIFE monthly payouts will I receive</a><p>​Watch this video to find out how much CPF LIFE monthly payouts you will receive<br><br></p><a href="/Assets/members/PublishingImages/CPFLife_Monthlypayouts_thumbnail.png"><img alt="" src="/_layouts/15/IMAGES/icpng.gif">CPF Life Monthly Payouts thumbnail</a>

 

 

 

 

Application for CPF LIFE Application for CPF LIFE /Tools/online-demos/online-demos/my-cpf-online-services/my-requests562MP4, 1.1MB
Application for CPF LIFE Additional AnnuityApplication for CPF LIFE Additional Annuity/Tools/online-demos/online-demos/my-cpf-online-services/my-requests556MP4, 1.0MB
Application to Start CPF LIFE Payout Application to Start CPF LIFE Payout /Tools/online-demos/online-demos/my-cpf-online-services/my-requests713MP4, 0.5MB
Application to Defer CPF LIFE Payout Application to Defer CPF LIFE Payout /Tools/online-demos/online-demos/my-cpf-online-services/my-requests712MP4, 0.5MB

 

 

 

 

Retirement Planning Booklet (English)Retirement Planning Booklet (English)<a href="/Assets/members/Documents/RetirementPlanningBooklet_Eng.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementPlanningBooklet_Eng.pdf</a><p>​(PDF, 4.0MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementPlanningBooklet_Eng_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementPlanningBooklet_Eng_Thumbnail.jpg</a>
Retirement Planning Booklet (Chinese)Retirement Planning Booklet (Chinese)<a href="/Assets/members/Documents/RetirementPlanningBooklet_Chi.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementPlanningBooklet_Chi.pdf</a><p>​(PDF, 4.5MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementPlanningBooklet_Chi_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementPlanningBooklet_Chi_Thumbnail.jpg</a>
Retirement Planning Booklet (Malay) Retirement Planning Booklet (Malay) <a href="/Assets/members/Documents/RetirementPlanningBooklet_Malay.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementPlanningBooklet_Malay.pdf</a><p>​(PDF, 4.6MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementPlanningBooklet_Malay_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementPlanningBooklet_Malay_Thumbnail.jpg</a>
Retirement Planning Booklet (Tamil) Retirement Planning Booklet (Tamil) <a href="/Assets/members/Documents/RetirementPlanningBooklet_Tamil.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementPlanningBooklet_Tamil.pdf</a><p>​(PDF, 4.3MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementPlanningBooklet_Tamil_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementPlanningBooklet_Tamil_Thumbnail.jpg</a>

 

 

CPF LIFE FactsheetCPF LIFE Factsheet<a href="/Assets/members/Documents/5FactsOfCPFLIFE.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">5FactsOfCPFLIFE.pdf</a><p>(PDF, 0.6MB)</p><p>Learn more about CPF LIFE and why we need it through this simple factsheet.</p><a href="/Assets/common/Documents/ResourceThumbnails/5FactsOfCPFLIFE_Thumbnail.png"><img alt="" src="/_layouts/15/IMAGES/icpng.gif">5FactsOfCPFLIFE_Thumbnail.png</a>

 

 

Application for CPF LIFE Plan<a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank" title="Application for CPF LIFE Plan"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application for CPF LIFE Plan</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeApplication/Index" title="Application for CPF LIFE Plan"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application for CPF LIFE Plan</a><p>FORM LID-APP(1) </p><p>This form allows you to select your CPF LIFE Plan and join CPF LIFE. The e-Service may take you 5 minutes to complete.<br></p>00PDF, 0.5MB
Application for Additional Annuity under CPF LIFE<a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank" title="Application for Additional Annuity Under CPF LIFE"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application for Additional Annuity Under CPF LIFE</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeAdditionalAnnuityApplication/Index" title="Application for Additional Annuity Under CPF LIFE"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application for Additional Annuity Under CPF LIFE</a><p>​FORM LID-APP(1A) </p><p> This form allows you to apply for an additional annuity under CPF LIFE. The e-Service may take you 5 minutes to complete. <br></p>00PDF, 0.4MB
Apply to Start CPF LIFE Payout<a href="/Assets/members/Documents/FORM_LIDDE2.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Apply to Start CPF LIFE Payout</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplicationToStartCpfLifePayout/Cover">Application to Start CPF LIFE Payout</a><p>​​FORM LID-DE2 </p><p>This form allows you to start receiving your CPF LIFE monthly payout if you have previously deferred your payout. The e-Service may take you 3 minutes to complete.<br></p>00PDF, 0.3MB
Apply to Defer CPF LIFE Payout<a href="/Assets/members/Documents/FORM_LIDDE1.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Apply to Defer CPF LIFE Payout</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplicationToDeferCpfLifePayout/Index">Application to Defer CPF LIFE Payout</a><p>​FORM LID-DE1 </p><p> This form allows you to defer your CPF LIFE monthly payout. The e-Service may take you 3 minutes to complete.<br></p>00PDF, 0.3MB

 

 

CPF LIFERetirement

 

 

<h3> <strong>Understand</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​What is the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default"><p>​The CPF LIFE Escalating Plan is a new plan in addition to the current two CPF LIFE plans – Basic and Standard Plans.<br></p><p>The CPF LIFE Escalating Plan gives members the option of starting with lower initial payouts which will increase by 2% per year. The 2% increase will take place every year in the month that the first payout was made.<br></p><p>As with all CPF LIFE plans, payouts may be adjusted to account for long-term changes in interest rates or life expectancy. Such adjustments (if any) are expected to be small and gradual.<br></p><p>The CPF LIFE Escalating Plan is suitable for members who do not have an immediate need for higher payouts.</p></td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​How much premium do I need to pay under the new CPF LIFE Escalating Plan?<strong></strong></strong></td></tr><tr><td class="ms-rteTable-default">​Under the CPF LIFE Escalating Plan, all your Retirement Account savings will be deducted as annuity premium and paid into the Lifelong Income Fund which will provide you with a monthly payout from your payout start age for as long as you live.</td></tr></tbody></table><p> </p><h3> <strong>Evaluate</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​I am not an existing CPF LIFE member. Can I join the new CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">Yes, you can join the CPF LIFE Escalating Plan if you are a Singapore Citizen or Permanent Resident. Please visit our <a href="/Members/Schemes/schemes/retirement/cpf-life">CPF LIFE webpage</a> to understand more about CPF LIFE before you apply for your CPF LIFE plan.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>I am an existing CPF LIFE member. Will I be allowed to switch to the new CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default"><p>​Yes. All existing CPF LIFE members, including members who had switched to CPF LIFE Standard Plan previously, can choose to switch to the CPF LIFE Escalating Plan between January to December 2018.<br></p><p>If you choose to switch to the new CPF LIFE Escalating Plan, your new payout may be reduced by 20% or more from your current payout. This is because, for the same annuity premium and other factors being equal, a CPF LIFE plan with payouts that increase over time, will have starting payouts that are lower, compared to a CPF LIFE plan with level payouts that do not increase over time. This is based on independent and objective actuarial calculations.</p><p>Please note that you are only allowed to switch your CPF LIFE plan to the CPF LIFE Escalating Plan once.</p></td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>Will I be allowed to switch to plans other than the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">​No. Existing CPF LIFE members will not be able to switch to other plans other than the CPF LIFE Escalating Plan. An exception is made to allow members to switch to the CPF LIFE Escalating Plan as it is a new plan that was previously not available to members.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>Will I receive any incentive for switching to the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">No. Members should decide whether or not to switch based on whether the new plan suits their retirement needs.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>How will I be affected if I remain under the existing plans?</strong></td></tr><tr><td class="ms-rteTable-default">​Your CPF LIFE policy which was issued to you will continue to apply, and the introduction of the new CPF LIFE Escalating Plan from January 2018 will not affect you.</td></tr></tbody></table><p> </p><h3> <strong>Apply</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>How do I apply to switch to CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default"><p>You can switch to CPF LIFE Escalating Plan via the following channels:</p> <p> <strong>Online using <em><strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices">SingPass</a>. </li><li>Submit an online application via My Requests.</li></ol><p> </p><p> <strong>In-Person at CPF Service Centres</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LID_SW.pdf" target="_blank">Form LID_SW: Application to Switch to CPF LIFE Escalating Plan</a> (PDF, 0.7MB). </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us">CPF Service Centre</a>.</li></ol><p> </p><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LID_SW.pdf" target="_blank">Form LID_SW: Application to Switch to CPF LIFE Escalating Plan</a> (PDF, 0.7MB). </li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060<br></li></ol><p> </p><p>You can refer to our <a href="/Members/AboutUs/about-us-info/service-standards-for-members/retirement">service standards</a> for more information.<br></p></td></tr></tbody></table><p> </p>

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