7 Aug 2026

SOURCE: CPF Board

If you are turning age 65, one decision you may face is whether to start your CPF LIFE payouts immediately or wait a few more years. Delaying your payouts could increase what you receive every month, but is it the right choice for you?

Nobody can predict how long they will live. CPF LIFE was designed with that in mind. As Singapore's national longevity insurance annuity scheme, it gives you a monthly income in retirement for as long as you live.

Upon reaching age 65, you can start receiving monthly payouts from CPF LIFE and use them to cover daily expenses, supplement other income, or simply give yourself peace of mind that there is a steady stream of cash flow every month.

But receiving your monthly payouts at age 65 is not the only option. You can choose to defer your payouts by up to five years, and doing so can steadily increase the amount you receive each month. If you are thinking about whether to start now or defer until later, here is what you need to know.

When can I start receiving CPF LIFE payouts?

You can start receiving your CPF LIFE payouts between ages 65 and 70 by using the Plan my monthly payouts service.

Three months before your 65^th birthday, CPF Board will send you a notification explaining your payout options and guiding you through the different CPF LIFE plans available.

If you have not provided any instructions by the time you turn 70, your payouts will begin automatically at that age.

How much more will I get for deferring my CPF LIFE payouts?

Depending on your gender and choice of CPF LIFE plan, your monthly payout increases by up to 7% for each year that you defer.

To put that in numbers: a 55-year-old male with $220,400 in his Retirement Account (RA) on the CPF LIFE Standard Plan can receive $600 more a month by choosing to start his payouts at age 70 instead of 65.

That works out to $2,380 a month at age 70, compared with $1,780 a month if he starts at 65.

Is it a good idea to defer CPF LIFE payouts?

Retirement planning is personal and what works for one person may not work for another. That said, there are two common situations where deferring your payouts tends to make sense.

CPF LIFE forms a key part of your retirement income, but you may still have money coming in from other sources between the ages of 65 and 70. This could be from work, rental income from a property, or returns from an investment portfolio.

If you do not need the monthly payouts right away, deferring allows you to receive higher monthly payouts later.

If you want to receive as much as possible each month during retirement, deferring your monthly payouts is one way to get there.

Your monthly payouts grow by up to 7% per year for each year of deferment. This means that you could get up to a 35% increase in payouts by waiting from ages 65 to 70 as your CPF savings would have accumulated more interest.

When should I consider starting my CPF LIFE payouts?

Deferring is not the right move for everyone. There are situations where starting your payouts at 65 is the more practical choice.

If you have retired and do not have other sources of income or savings to rely on, starting your CPF LIFE payouts at age 65 is the sensible option. There is little benefit in deferring your monthly payouts if it means stretching your finances thin. CPF LIFE helps support your retirement, so use it when it serves you best.

If you are dealing with health conditions that could affect your retirement spending needs and financial circumstances, starting your payouts earlier gives you access to that money when you need it most.

Keep in mind that deferring your payouts only pays off financially if you live long enough to benefit from the higher monthly amounts.

Use the CPF monthly payout estimator to learn more about the payouts you will receive from CPF LIFE

If you want to find out how deferring your payouts can affect your monthly payouts, use the Monthly payout estimator which helps calculate the monthly payouts of CPF members from age 55 to 79.

This useful tool takes into account your actual RA balance, chosen CPF LIFE plan, and the age that you want to start receiving your monthly payouts. You can also compare how your payouts can change depending on when you start and the amount of top-ups that you make.

For example, a 67-year-old male with $150,000 in his RA on the CPF LIFE Standard Plan can receive $110 more a month if he makes a cash top-up of $20,000.

To defer or not to defer your CPF LIFE payouts?

There is no universally right answer when it comes to retirement planning, and it is best to take a closer look at your finances and retirement goals before deciding whether to defer.

If you have other income to rely on and are in good health, deferring your CPF LIFE payouts for a few years can result in higher monthly income for the rest of your life. However, if you need the money now or have health concerns, starting your payouts at age 65 is an option to consider.

To see exactly how much you can receive in retirement by deferring your payouts, check out the CPF monthly payout estimator.

Information in this article is accurate as at the date of publication.