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CPF LIFECPF LIFE<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 national longevity insurance annuity scheme that insures you against running out of your retirement savings, by providing you with a monthly payout no matter how long you live.<br></p><p>If you have a commercial annuity product which pays out the same or higher monthly payout for life, you can apply to be exempted from CPF LIFE and withdraw your CPF retirement savings.</p> <br>TrueTrueTrueOthers;#

 

 

UnderstandWhy do we need CPF LIFE?<p>We know how much we have saved. But we don’t know how much of our savings to use for monthly living expenses because nobody can predict how long we can actually live. Spend too much and we might not have enough if we live longer than we thought; spend too little and we might deprive ourselves from fully enjoying our hard-earned savings during our lifetime. This is a major dilemma.</p><p>To make matters worse, with increasing advances in technology and healthcare, we are likely to live longer than our grandparents’ or parents’ generation. Therefore, we cannot predict how long we will live by looking at how long our parents or grandparents live. That is why most people underestimate how long they will live. Many find their savings depleted with many more years to live.</p><p>The solution to this dilemma is CPF LIFE. It gives us peace of mind in retirement by providing us with a monthly payout <strong>no matter how long we live</strong>. </p> <div class="cms-collapse" data-ans="<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 retirement payouts no matter how long you live, unlike most private retirement income plans that only do so for a limited period.<br/></td> </tr> </tbody> </table> <br/> <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 WITH HIGH, RISK-FREE RETURNS</strong></td> <td style='padding: 5px; width: 75%;'>​CPF LIFE monies are guaranteed by the Singapore Government, and provide high, risk-free returns of up to 6% p.a. Annuities offered by the private sector are subject to investment market returns.<br/></td> </tr> </tbody> </table> <br/> <table bordercolor='#ffd966' border='1' style='width: 100%; height: 70px; text-align: center;'> <tbody> <tr> <td style='width: 25%; background-color: #ffd966;'> <strong>LOWER COSTS</strong></td> <td style='padding: 5px; width: 75%;'>​Being non-profit and administered by the CPF Board, the CPF LIFE scheme does not incur costs from advertising and agents’ commissions. With a large member base, longevity risks and costs can also be better spread out.<br/></td> </tr> </tbody> </table> <br/>" data-qn="How is CPF LIFE attractive" style="text-align:left;"> <br></div>CPF LIFE15221522
UnderstandHow does CPF LIFE provide payouts for life?<p>When you join CPF LIFE, the premium for your CPF LIFE plan will be paid with CPF savings.</p><p>The premium will earn attractive and risk-free CPF interest rates of up to 6%, which includes the extra interest of up to 2% from the Government. Your CPF LIFE monthly payouts will first be paid from your premium.* When your premium is used up, you will continue to receive monthly payouts from the interest that you and other CPF LIFE members have accumulated. <br></p><p>With CPF LIFE, you will always receive a monthly payout no matter what age you live to. </p><p> <span style="font-size:0.9em;">*Note: Applicable to the CPF LIFE Standard and Escalating plans.</span></p>CPF LIFE23011749
UnderstandHow much will my beneficiaries receive if I pass away?When you pass away, your beneficiaries will receive your CPF LIFE premium balance (if any) together with any of your remaining CPF savings. In other words, you and your loved ones will always get back the premium that you have put into CPF LIFE. <br>CPF LIFE15371537
EvaluateWhich CPF LIFE plan is suitable for me?<p>Deciding the kind of retirement lifestyle you want is key to choosing the right CPF LIFE plan for you.</p><p>If you are worried about things being more expensive as the years pass, then you need monthly payouts that increases every year for life. The <strong><a href="https://www.cpf.gov.sg/members/FAQ/schemes/Retirement/CPF-LIFE/FAQDetails?category=Retirement&group=CPF%20LIFE&folderid=11663&ajfaqid=2303800">Escalating Plan</a></strong> has this feature. See illustrations of <a href="/Members/Schemes/schemes/retirement/cpf-life/detailstab/Item1783">how inflation could erode your monthly payouts</a>.<br></p><p>If you prefer to keep within a fixed budget even if it means that you can afford to buy less as things get more expensive in the years ahead, the <strong><a href="https://www.cpf.gov.sg/members/FAQ/schemes/Retirement/CPF-LIFE/FAQDetails?category=Retirement&group=CPF%20LIFE&folderid=11663&ajfaqid=2186374">Standard Plan</a></strong> has a stable monthly payout. </p><p>If you don’t mind starting with lower monthly payouts which will progressively be lower later on, then the <strong><a href="https://www.cpf.gov.sg/members/FAQ/schemes/Retirement/CPF-LIFE/FAQDetails?category=Retirement&group=CPF%20LIFE&folderid=11663&ajfaqid=2186377">Basic Plan</a></strong> is good enough.</p><p>In all three plans, you will enjoy payouts no matter how long you live, and any CPF LIFE premium balance will be given to your beneficiaries, together with your remaining CPF savings upon death. </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 class="img-responsive" alt="CPF LIFE Plans" src="/Assets/members/PublishingImages/CPFLIFE3Plans_MthlyPayouts.png" /> </div> <br>CPF LIFE15331533
EvaluateDo I really need to be concerned about rising cost of living?<p>From year to year, price increases are not so noticeable. But your retirement takes place over 20-30 years and the impact of rising prices is very significant. The table below shows the price comparisons between 20 years ago and today.</p><div class="hidden-xs"><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:25%;">​<strong>Price of</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;text-align:center;"> <strong>​20 Years Ago</strong><br></td><td class="ms-rteTableEvenCol-default" style="width:25%;text-align:center;"> <strong>​Today</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;text-align:center;"> <strong>​Difference</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong>Coffee</strong><strong></strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$0.90​<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$1.20<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​33%<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;"> <strong>​Chicken Rice</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$2.50<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$3.50<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">40%​<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;"> <span style="color:#444444;"><strong>​<span>Movie Ticket (Weekday)</span></strong><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;"><span>​$5</span><br></span></td><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">$8.50​</span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">​70%</span><br></td></tr></tbody></table></div><div class="visible-xs"><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:25%;">​<strong>Price of</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;text-align:center;"> <strong>Coffee</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​20 Years Ago</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​<span style="text-align:center;">$0.90​</span><br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​Today</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="text-align:center;">​</span><span style="text-align:center;">$1.2</span><span style="text-align:center;">0</span>​</td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;"> <span style="color:#444444;"><span>​</span><strong style="text-align:center;">Difference</strong><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">​</span><span style="text-align:center;color:#444444;">​33%</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:25%;">​<strong>Price of</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;text-align:center;"> <strong>Chicken Rice</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​20 Years Ago</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​<span style="text-align:center;">$2.50</span><br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​Today</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="text-align:center;">​</span><span style="text-align:center;">$3.50</span></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;"> <span style="color:#444444;"><span>​</span><strong style="text-align:center;">Difference</strong><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">​</span><span style="text-align:center;color:#444444;">​40%</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:25%;">​<strong>Price of</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;text-align:center;"> <strong>Movie Ticket (Weekday)</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​20 Years Ago</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​<span style="text-align:center;">$5</span><br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;">​<strong style="text-align:center;">​Today</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="text-align:center;">​</span><span style="text-align:center;">$8.50</span></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;"> <span style="color:#444444;"><span>​</span><strong style="text-align:center;">Difference</strong><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">​</span><span style="text-align:center;color:#444444;">​70%</span><br></td></tr></tbody></table> </div> <br> <p>On average, something that costs $10 when you are aged 65 is likely to cost $15 when you reach age 85. That is why you need the Escalating Plan if you wish to maintain your lifestyle as you get older. Alternatively, if you don’t mind lowering your standard of living and buy less with a level payout, then the Standard Plan is good enough.</p> <br>CPF LIFE28461783
EvaluateHow do I achieve the CPF LIFE payouts I want?<p>After you have decided on the CPF LIFE plan that best suits your retirement needs, the next step is to work out the amount of monthly payouts you want, and the CPF savings needed to achieve it. </p><p>You can use the <a href="/lifeestimator">CPF LIFE Estimator</a> to find out the amount of CPF LIFE premium needed to achieve your desired monthly payout under your selected CPF LIFE plan. </p><p>For example, to receive a monthly payout of $1,430 - $1,530, you will need $280,200 in your RA at 65. A much lesser sum of $186,000 is required if you set aside the amount in your RA at 55. This is because CPF interest rates of up to 6% will help you grow your savings through compound interest.</p> <br> <div class="hidden-xs"><table cellspacing="0" width="100%" class="ms-rteTable-default" style="text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:25%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:25%;"> <strong> CPF LIFE Premium at 65 [Savings You Need at 65]</strong>​<br></td><td class="ms-rteTableEvenCol-default" style="width:25%;"><div> <strong>Savings You Need at 60</strong><br></div>​</td><td class="ms-rteTableOddCol-default" style="width:25%;"> <strong>Savings You Need at 55​</strong></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$350 - $370</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$60,000​<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$45,800<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$35,500<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$540 - $570</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$97,300<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$76,000<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$60,000<br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$770 - $830</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$145,200<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$115,400<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$93,000​</td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$960 - $1,030</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$184,400<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$147,600<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$120,000​<br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$1,430 - $1,530</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$280,200​<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">$226,300​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">$186,000​<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​<strong>$1,520 - $1,640</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$300,600<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:25%;text-align:center;">​$243,000<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:25%;text-align:center;">​$200,000<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;"> <span>​</span><strong>$2,080 - $2,230</strong><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;"> <span>$415,300​</span><br></span></td><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;"> <span>​$337,300</span><br></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:25%;text-align:center;"> <span style="color:#444444;">$279,000</span><span style="color:#444444;">​</span><br></td></tr></tbody></table></div><div class="visible-xs"><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$350 - $370​</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$60,000​​<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">​​$45,800<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​</span><span style="color:#444444;">​$35,500</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$540 - $570</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$97,300<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$76,000<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​$60,000</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$770 - $830</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$145,200<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$115,400<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">$93,000</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$960 - $1,030</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$184,400<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$147,600<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">$120,000</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$1,430 - $1,530</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$280,200<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$226,300<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">$186,000</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$1,520 - $1,640</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$300,600<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$243,000<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">$200,000</span><br></td></tr></tbody></table><table cellspacing="0" width="100%" class="ms-rteTable-default" style="height:32px;text-align:center;"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>Desired Monthly Payout from 65</strong><br></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>$2,080 - $2,230</strong><br></td></tr><tr class="ms-rteTableOddRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>​CPF LIFE Premium at 65 [Savings You Need at 65]​</strong><br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$415,300<br></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:50%;"> <strong>Savings You Need at 60</strong>​<br></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:50%;">$337,300<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">​<strong>Savings You Need at 55​</strong></span><br></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;text-align:center;"> <span style="color:#444444;">$279,000</span><br></td></tr></tbody></table></div> <br> <p> <span style="font-size:0.9em;">Note: These monthly payouts are estimates based on the CPF LIFE Standard Plan, for members who turn 65 in 2031, computed as of 2021. 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> <br> <br>CPF LIFE15341534
EvaluateHow can I increase my CPF LIFE monthly payouts?<p>If you are still working, your working contributions will continue to enhance your retirement savings and increase your CPF LIFE monthly payouts. You can also consider the following ways to increase your payouts:</p><ol><li>You or your loved ones can make cash top-ups and/or CPF transfers into your Retirement Account, up to the prevailing Enhanced Retirement Sum.<br></li><br> <li>You can start your CPF LIFE payouts at 65. However, if you do not have immediate needs, you may wish to start receiving your payouts later. You can then grow your savings with attractive CPF interest rates and boost your future payouts. For each year that you start later, your payouts will increase by up to 7%. This will give you up to 35% increase in payouts if you choose to start your payouts at 70. The latest age you can start your payouts is 70, after which they will begin automatically.<br></li></ol>CPF LIFE15271527
EvaluateHow will I receive my CPF LIFE monthly payouts?The monthly payouts from CPF LIFE will be paid directly into your bank account each month.<br>CPF LIFE15351535
ApplyWhat must I do to be included in CPF LIFE?<p>You will be informed before you turn 65 whether you will be automatically included in CPF LIFE. In general, you will be automatically included if:</p><ul><li>you are a Singapore Citizen or Permanent Resident born in 1958 or after; and</li><li>have at least $60,000 in your CPF retirement savings before you reach 65. </li></ul><p>If you are automatically included, we will notify you when you are nearing 65 to explain the options available to you and the choices you can make. If you have not selected a CPF LIFE plan by the time you turn 70, we will automatically place you on the CPF LIFE Standard Plan and start your payouts at 70.</p><p>If you are a Singaporean Citizen or Permanent Resident who does not meet the above requirements, you can still choose to join CPF LIFE, at any time from 65 to one month before you reach 80.</p> <br>CPF LIFE19021736
ApplyHow do I choose to join CPF LIFE?<p>You can join CPF LIFE any time from 65 to one month before you reach 80, by taking the steps below:</p><ol><li style="margin-bottom:5pt;">Login to <em>my cpf</em> Online Services with your SingPass.<br></li><li>Click on My Requests > CPF LIFE > <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeApplication/Index">Apply for CPF LIFE</a></li></ol><br>CPF LIFE15381538

 

 

 

 

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.</p><p>Note: Retirement sum figures are applicable to members turning 55 in 2019.</p><a href="/Assets/members/PublishingImages/CPFLife_Monthlypayouts_thumbnail.png"><img alt="" src="/_layouts/15/IMAGES/icpng.gif">CPF Life Monthly Payouts thumbnail</a>

 

 

 

 

Apply for CPF LIFEApply for CPF LIFE/Tools/online-demos/online-demos/my-cpf-online-services/my-requests562MP4, 2.0MB
Apply to Increase CPF LIFE PremiumApply to Increase CPF LIFE Premium/Tools/online-demos/online-demos/my-cpf-online-services/my-requests556MP4, 1.7MB
Application to Start CPF LIFE Payout Application to Start CPF LIFE Payout /Tools/online-demos/online-demos/my-cpf-online-services/my-requests713MP4, 1.2MB
Application to Defer CPF LIFE Payout Application to Defer CPF LIFE Payout /Tools/online-demos/online-demos/my-cpf-online-services/my-requests712MP4, 1.3MB

 

 

 

 

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, 2.9MB)</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/RetirementBooklet-Chi.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementBooklet-Chi.pdf</a><p>​(PDF, 3.2MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementBooklet-Chi_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementBooklet-Chi_Thumbnail.jpg</a>
Retirement Planning Booklet (Malay) Retirement Planning Booklet (Malay) <a href="/Assets/members/Documents/RetirementBooklet-Mly.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementBooklet-Mly.pdf</a><p>​(PDF, 2.8MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementBooklet-Mly_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementBooklet-Mly_Thumbnail.jpg</a>
Retirement Planning Booklet (Tamil) Retirement Planning Booklet (Tamil) <a href="/Assets/members/Documents/RetirementBooklet-Tam.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">RetirementBooklet-Tam.pdf</a><p>​(PDF, 2.5MB)</p><p>Information on planning for your retirement with CPF.</p><a href="/Assets/common/Documents/ResourceThumbnails/RetirementBooklet-Tam_Thumbnail.jpg" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icjpg.gif">RetirementBooklet-Tam_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>

 

 

Apply for CPF LIFE<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">Apply for CPF LIFE</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>00
Apply to Increase CPF LIFE Premium<a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/IncreaseLifePremiumApplication/Index"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">Apply to Increase CPF LIFE Premium</a><p>​FORM LID-APP(1A) </p><p> This form allows you to increase your CPF LIFE premium. The e-Service may take you 5 minutes to complete. <br></p>00
Apply to Start CPF LIFE Payout<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>00
Apply to Defer CPF LIFE Payout<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>00

 

 

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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