A Singapore Government Agency Website

General

  • By accessing the CPF Board website, you acknowledge the following Terms of Use, including this Disclaimer.
  • This planner is intended to provide general guidance on housing affordability with results and/or estimates intended for illustrative purposes only. It should not be regarded as advice by CPF Board or used as a substitute for financial advice. Due to the assumptions and computational approach adopted, the results may not necessarily be similar to those provided by HDB/banks. These results and/or estimates are also based on the current assumptions, which are subject to change at any time without notice.

Housing projections:

 

Home purchase budget:

  • The home purchase budget is computed by adding any housing loan and available funds.
  • The housing loan is the estimated amount that you can borrow, or the specific loan amount you entered.
  • The available funds is the sum of your and your co-owner’s (if any) CPF Ordinary Account balances, cash savings, and any balance sales proceeds, any principal CPF amount withdrawn and accrued interest (P+I), and any housing grants.

If you indicated assistance to estimate your housing loan amount:

  • All housing loan information (including loan amount, loan duration and monthly instalment amount) presented in the planner are indicative figures. These figures are computed using factors such as the mortgage servicing ratio, loan repayment period, loan interest rate and loan-to-value, based on MAS’ and MND’s prevailing housing loan rules.
  • CPFB is not liable for all information reflected in the planner pertaining to housing loan. The housing loan estimated by the planner may differ from the housing loan provided by HDB/banks due to differences in assumptions and computational approach. It also does not constitute an approval or acceptance by HDB/banks for your housing loan. Please approach HDB or the banks directly for more information on your housing loan eligibility and amount.

Balance sales proceeds:

  • The balance sales proceeds are derived using the selling price of your home less outstanding housing loan, P+I (including co-owner’s, if any), resale levy and other expenses.
  • If you are aged 55 and above and logged in to your CPF account, your Retirement Account (RA) shortfall to your Full Retirement Sum (FRS) will be used instead of your P+I for the computation of the balance sales proceeds, if the former is smaller.

Principal CPF amount withdrawn and accrued interest:

  • If you and your co-owner are below age 55, the planner assumes that your respective P+I is used for your next home purchase.
  • If you are aged 55 and above and logged in to your CPF account, the planner assumes that the P+I in excess of your RA shortfall is used for your next home purchase.
  • If you are aged 55 and above and not logged in to your CPF account, as well as for all co-owners aged 55 and above, the planner assumes that the P+I is not used for the next home purchase.

General:

  • You should check your eligibility to apply for a housing loan from HDB or banks, and/or to receive CPF housing grants, before committing to a home purchase.
  • The planner is intended to provide general guidance on housing affordability with results and/or estimates intended for illustrative purposes only. It should not be regarded as advice by CPF Board or used as a substitute for financial advice.

Retirement projections

 

Setting Retirement Goal

  • The initial retirement goal selected by you is expressed in today’s dollars.
  • An annual 2% inflation rate is applied to your selected retirement goal to compute your payout goal at age 65.
  • In the retirement income guide, retirement lifestyle choices provided are based on expenditure items from the Household Expenditure Survey.

Retirement Projections

  • Projections are based on the details you provided under the financial profile and housing situation pages. If you do not provide current and accurate information, the projections may not be suitable for your use.
  • Ordinary Account (OA), Special Account (SA) and/or Retirement Account (RA) balances are projected, starting from the current month when the planner is used and ending when you are projected to reach age 65.

CPF balances used for projections

  • All OA balances are assumed to have been used for home purchase.
  • For those aged below 55 at the point of using the planner, SA balances are projected using the latest available SA balances. At age 55, the SA will be closed. SA savings will be transferred to the RA up to the Full Retirement Sum (FRS), with excess SA savings transferred to the OA
  • For those aged 55 and above at the point of using the planner, RA balances are projected using the latest available RA balances. If you have indicated to sell your existing property in this planner, the refunded CPF principal amount and accrued interest that is used to meet your FRS will also be added to your latest available RA balances.

CPF contributions used for projections

  • Projections assume that you remain employed throughout the projection period, with regular CPF contributions from employment.
    • CPF contribution rates are based on those for private sector employees and government non-pensionable employees across the different age groups.
    • CPF contributions on monthly salary are capped at the prevailing salary ceiling.
    • Annual increments to salary are assumed to be constant at 3% annual growth rate over the projection period, and applied at the end of every December
  • If you are not taking a loan for your home purchase, all your OA contributions from employment will be used to project your retirement savings.
  • If you are taking a loan for your home purchase, any excess OA contributions from employment after paying the monthly instalment of the estimated home purchase is used to project your retirement savings:
    • The OA contributions that go towards your monthly instalment depends on your selection of the ‘use all CPF’, ‘use mostly CPF’ or ‘use half CPF’ scenarios.
    • The monthly instalment amount is based on what you entered in the planner or estimated by the planner, and capped at your monthly OA contribution. If you indicated a co-owner, the monthly instalment payable is assumed to be equally divided between you and your co-owner.

CPF interest used for projections

  • CPF savings are assumed to grow with CPF interest over the projection period.
    • For projection period before age 55, SA balances are assumed to earn 4% interest per annum, while OA balances are assumed to earn 2.5% interest per annum. The first $60,000 (capped at $20,000 for OA) is assumed to earn an extra 1% per annum interest, which is credited to the SA. 
    • For projection period after age 55, RA balances are assumed to earn 4% interest per annum, while OA balance are assumed to earn 2.5% interest per annum. The first $30,000 (capped at $20,000 for OA) is assumed to earn an additional 1% interest per annum. These additional interests will be credited to the RA.
    • CPF interest is calculated monthly, but credited and compounded annually at the end of December.

Projected retirement savings at age 65

  • The projected retirement payouts assumes that the sum of the OA and RA balances you are projected to have at age 65, capped at the Enhanced Retirement Sum (ERS), are committed to CPF LIFE under the Standard Plan.  ERS is set at four times the Basic Retirement Sum, which is assumed to grow at 3.5% per annum.