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  1. Your application is subject to the provisions of the CPF Act and its subsidiary legislation as may be amended from time to time. You declare that the information given in this application is correct and completed to the best of your knowledge.
  2. The estimated monthly payouts displayed are for illustrative purposes only. Your payouts will be computed based on your actual CPF balances when payouts start.
  3. Upon submission of your application, we will normally take up to two weeks for processing. Monthly payouts will start from your payout eligibility age or the month after processing your request to start payouts (whichever is later).
  4. Your monthly payouts will be paid to your bank account generally on the 2nd or 3rd of each month, if your bank supports Fast And Secure Transfer (FAST). Otherwise, you will receive your payouts later, via Interbank GIRO (IBG).
  5. When you pass away, CPF LIFE premium balance (if any) together with any remaining CPF savings will be distributed according to your CPF nomination. If there is no CPF nomination, the savings will be paid to the Public Trustee’s Office for distribution according to the intestacy laws.

Your bank account to receive your monthly payouts:


  1. By submitting this application, you irrevocably authorise CPF Board to share your NRIC number and bank account information with the Government and other public sector agencies (including statutory boards) and authorised agents of the Government (collectively, the “the Government and Paying Agencies”), for the purpose of crediting cash payments from the Government and Paying Agencies to you using the Account.
  2. You also authorise CPF Board to credit any payment due to you:
    1. under the CPF Act and its subsidiary legislation; and
    2. from the Government in respect of which CPF Board is the administrator, agent or trustee,
    to the Account.
  3. You irrevocably consent to and authorise the Bank, including any officer thereof, to disclose to CPF Board and the Government and Paying Agencies any information whatsoever relating to you and to the Account as is necessary for the purpose of verifying and making payment to your bank account. This consent shall survive the termination of the Account with the Bank and may be relied on and enforced as fully and effectively by the Bank as if it was addressed to the Bank.
  4. You understand that CPF Board, the Government and the Paying Agencies have the absolute discretion to decide whether to verify information relating to you or your Account. You will not hold CPF Board, the Government and the Paying Agencies responsible if they decide not to perform such verification.
  5. You declare that the information and bank account details given in this application is correct and complete to the best of your knowledge. You shall at all times hereafter indemnify the CPF Board and hold the CPF Board harmless from and against all actions, proceedings, claims, liabilities, penalties, awards, damages, costs (including without limitation, legal costs of the CPF Board on a solicitor and own client basis), expenses and any loss whatsoever, however arising, directly or indirectly, which the CPF Board may be liable to incur or suffer as a result of releasing such CPF monies to you through your aforesaid bank account.

Your Monthly Payouts


  1. If you are born in 1958 or after and have not set aside the applicable Full Retirement Sum (FRS) in your Retirement Account (RA) when you start your monthly payouts, there will be a transfer of your Special Account (SA) and/or Ordinary Account (OA) savings to your RA, up to your FRS. This transfer allows you to receive higher monthly payouts.

    You will be automatically included in CPF LIFE if you are a Singapore Citizen or Permanent Resident and have at least $60,000 in your RA when you start your monthly payouts.

If you are not on CPF LIFE:


  1. You will only need to submit your instruction to CPF Board when you want to start your monthly payouts. If we do not receive your instruction by age 70, your monthly payouts will automatically start in the month of your 70th birthday.

If you join or are on CPF LIFE:


  1. You must be a Singapore Citizen or Permanent Resident.
  2. If you join CPF LIFE, the premium will be paid using your RA savings, including the SA and/or OA savings which are transferred to your RA. Your additional RA savings that are withdrawable from age 65 (if applicable) will also be used as CPF LIFE premium if you decide to use them to increase your CPF LIFE monthly payouts instead of withdrawing them.

    You will be given a grace period of 30 days (from the date of the policy letter) to change or cancel# your CPF LIFE plan. After this grace period, you cannot change or cancel# your plan.

    # Only applicable to members who join CPF LIFE voluntarily
  3. CPF LIFE monthly payouts may be adjusted every year to account for factors such as interest rates and mortality experience.

If you are on CPF LIFE and have instructed to defer monthly payouts:


  1. Your CPF LIFE monthly payouts will start at your chosen payout age. Otherwise, your payouts will automatically start at age 70.
  2. CPF Board will not make any back payments for the period when your CPF LIFE monthly payouts are deferred.
  3. If you wish to start receiving your CPF LIFE monthly payouts earlier than the payout start age stated in Step 1, you must inform CPF Board at least one month before your intended payout start month. The latest that you can start your CPF LIFE monthly payouts is in the month of your 70th birthday.
  4. When you start your monthly payout, your RA savings will automatically be used to increase your CPF LIFE premium to provide you with higher payouts.


If you are on CPF LIFE and have instructed to change your CPF LIFE plan:


  1. Your full Retirement Account savings, including the premium refunded from your current LIFE plan, will be deducted as premium for your new plan.
  2. This change is irreversible and you cannot change back to your current LIFE plan.
  3. The interest earned on your current plan will be transferred to your new CPF LIFE plan.
  4. If you have not started receiving your monthly payouts, the change of plan will take effect one month before you start your monthly payouts.
  5. If you are currently receiving monthly payouts, the change of plan will take effect by the 27th of the following month of your request. Your payouts under the new CPF LIFE plan will start from the following month after your new CPF LIFE plan is issued to you.


If you have instructed to use more CPF savings to increase monthly payouts:


  1. Your decision to use your CPF savings to increase your monthly payouts is irrevocable.
  2. At the point of processing, only available CPF savings, up to your requested amount will be used to increase your payouts.
  3. The CPF savings you can use to increase monthly payouts are:
    1. Savings from your SA and OA, subject to top-up limit of up to the Enhanced Retirement Sum, under the Retirement Sum Topping Up (RSTU) scheme; and/or
    2. The RA savings that you can withdraw or use to increase payouts when you reach 65. Any remaining amount not withdrawn/used to increase payouts will be transferred from your RA to your OA for your future withdrawals when your payouts start.
  4. The terms and conditions of the RSTU scheme are:
    1. Savings will first be transferred from the SA, followed by OA to the RA, up to the current Enhanced Retirement Sum. You cannot transfer in a different sequence.
    2. The transfers will not receive tax relief. They will also reduce the cash top-ups and consequently, the tax relief that you can receive under the RSTU scheme.
    3. Top-up monies are meant to build up the recipient’s retirement savings and will be paid as monthly payouts during retirement. In line with this, the top-up monies cannot be withdrawn for other purposes and will be excluded from the withdrawable/usable amounts under the following:
      1. Other CPF schemes for education, investments, insurance, housing, CPF transfers etc.;
      2. Withdrawals from your RA (including property owners);
      3. Exemption from setting aside a retirement sum in the RA.
    4. Top-up monies in the RA will not be taken into account in computing how much RA savings can be withdrawn in cash (for property owners), as well as how much RA savings can be used for housing and CPF transfers.
    5. The transfers will increase your retirement sum and may reduce the CPF property pledge/charge in your RA, if any.
    6. Generally, top-up monies deducted from the RA for payment of annuity premium, including CPF LIFE premium, are no longer considered as top-up monies. Hence, any refund to the RA arising from the termination or surrender of the annuity are not considered top-up monies.

      Please click here for the full set of terms and conditions of the RSTU scheme