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my cpf

View personal CPF information and transactions for retirement, home ownership, healthcare, and more.


CPF overview

CPF empowers you to secure your life goals. Save for retirement, home ownership, and healthcare protection.

Growing your savings

For greater peace of mind in your golden years, CPF provides you with a strong foundation for retirement by helping you save for your retirement income, home ownership and healthcare needs.

Retirement income

Build a strong foundation for your retirement and get more from what you save in your golden years.

Home ownership

Owning a home can be affordable. Take care of your mortgage repayment, while protecting your retirement nest egg.

Healthcare financing

Learn how CPF can give you peace of mind to manage your basic healthcare sum and meet the costs of your healthcare needs.

Account services

Throughout your working life and in retirement, you can easily access your CPF account information using Singpass. To better manage your CPF savings, keep up with the latest news by having your contact details updated and subscribe to our email notifications.

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04 Sep 2019 

SOURCE: CPF Board

Are you prepared to meet your future retirement needs? If you need some help, here’s a step-by-step guide to help you kick off your retirement planning.​​​

Determine your monthly expenses during retirement

 

Begin by estimating the monthly expenditure for your daily needs and desired lifestyle during retirement. You can do a projection based on your current expenses for necessities, and adding the costs for leisure and/or enrichment activities you may want to pursue in your golden years.

 

Alternatively, a good estimate is to have a monthly retirement income of 70% of your last drawn salary. The amount that you derive would be an indication of the monthly income you’ll need from your CPF LIFE payouts and/or personal savings.


Estimate your retirement sum to set aside

 

Based on your estimated monthly expenses, you can use the CPF LIFE Estimator to gauge how much you’ll need to set aside for retirement.

 

If you are turning 55 this year, you can refer to the Basic, Full, and Enhanced Retirement Sums as a general guide on the retirement sum you will need to set aside for your desired monthly payouts.


Work towards your goal

 

Work towards your retirement goals by clearing your debts early so that you can save more for the future.

 

You can grow your savings by topping up your Special Account up to the current Full Retirement Sum (FRS) (if you are below age 55) or Retirement Account up to the current Enhanced Retirement Sum (ERS) (if you are aged 55 or above) under the Retirement Sum Topping-Up Scheme (RSTU).*

 

Enjoy dollar-for-dollar tax relief of up to $7000^ for top-ups in cash, while your CPF savings grow at up to 6% per annum#! 

 

Check out simple ways to save money in your everyday life here. For budgeting tips and techniques, you can read this article!


*Top-ups under the RSTU Scheme are irreversible.

 

^Up to $7,000 per calendar year and applicable only for cash top-ups up to the current Full Retirement Sum (FRS). Cash top-ups beyond the current FRS will not be eligible for tax relief. In total, you can enjoy tax relief of up to $14,000 per calendar year (maximum $7,000 for self and maximum $7,000 for loved ones). Loved ones refer to your parents, parents-in-law, grandparents, grandparents-in-law, spouse and siblings. To qualify for tax relief for cash top-ups made to your spouse or siblings, they must not have an annual income of more than $4,000 in the year preceding the year of top-up (e.g. salary or tax-exempt income such as bank interest, dividends, and pension) or be handicapped. Overall personal income tax relief cap of $80,000 applies for cash top-ups to CPF accounts. 

 

#This includes extra interest on t​he first $60,000 of your combined CPF balances (with up to $20,000 from the OA). Please find out more here​​.​

 

Information updated as at 27/8/2020