Why do I need CPF LIFE?
Because we cannot predict how long we will actually live. Therefore, planning how much of our savings to use for living expenses is a dilemma. 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.
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.
With CPF LIFE, you do not need to worry. Through providing lifelong payouts, CPF LIFE gives you certainty by insuring you against running out of your retirement savings no matter what age you live to.