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CPF LIFECPF LIFE<p><b>What is CPF LIFE?</b> </p><p>The CPF <b>L</b>ifelong <b>I</b>ncome <b>F</b>or The <b>E</b>lderly (CPF LIFE) Scheme, provides Singapore Citizens and Permanent Residents with a monthly payout for as long as you live.​ </p>TrueTrueTrueOthers;#

 

 

UnderstandWhy do you need CPF LIFE? <p></p><p>People are living longer. While this is a good thing, it means that you need to save for a longer retirement or you may end up outliving your savings. Having an income for as long as you live has therefore become even more important.</p><p>With CPF LIFE, you will get a lifelong monthly payout starting from your payout eligibility age (previously known as the drawdown age), which is currently at age 65.​​</p>CPF LIFE15221522
UnderstandWho is CPF LIFE for?<p>You will be placed on CPF LIFE if you are a Singapore Citizen or Permanent Resident born in 1958 or after, and have at least:</p><ol><li>$40,000 in your Retirement Account when you reach 55 years old; or</li><li>$60,000 in your Retirement Account when you reach 65 years old.</li></ol><p>If you are not placed on CPF LIFE, you can apply to join CPF LIFE. You can make your application anytime between the time you wish to start your monthly payout (which will be from your payout eligibility age onwards) and before you turn 80 years old.</p><p style="text-align:center;"><img src="/Assets/members/PublishingImages/WhoisCPFLIFEfor.jpg" alt="" style="margin:5px;" /> </p>CPF LIFE15371537
EvaluateWhat are the CPF LIFE Plans available?<p style="text-align:left;">There are two CPF LIFE Plans for you to choose from – the LIFE Standard Plan and the LIFE Basic Plan. The plans differ on the</p><ul><li><strong>monthly payout</strong> you would receive; and </li><li>the amount you would bequest to your <strong>beneficiaries.</strong></li></ul><p><img src="/Assets/members/PublishingImages/CPFLIFEplansavailable.jpg" alt="" style="margin:5px;width:500px;height:228px;" />  </p>CPF LIFE15331533
EvaluateHow does CPF LIFE work?<p>At 55 years old, we will create your Retirement Account and transfer some of your CPF savings from your Special Account and/or Ordinary Account into this account to form your retirement sum.</p><p>Your retirement sum will be used to buy a CPF LIFE annuity to receive lifelong monthly payouts from your payout eligibility age, which is currently at age 65.</p><p>Depending on your desired CPF LIFE monthly payout and your CPF balances, you can choose from a range of payout options that best suit your needs in retirement.</p><p> <img src="/Assets/common/PublishingImages/Payouts65.jpg" alt="" style="margin:5px 0px;width:523px;height:455px;" /> </p><p> <em><sup>1</sup>Payouts are estimated based on CPF LIFE Standard Plan parameters in 2016. </em></p>CPF LIFE15341534
EvaluateWhen do I choose my CPF LIFE plan?<p></p><p>For members turning 55 before 1 July 2015, we will send you a letter to choose your CPF LIFE plan one month after your 55th birthday. You have six months to choose your plan. If you do not choose a plan, we will place you on the CPF LIFE Standard Plan. </p><p>From January 2016, members will only need to choose their CPF LIFE plan from their payout eligibility age at the point when they wish to start their CPF LIFE payouts.</p><p>In view of this upcoming change, members who are turning 55 from 1 July 2015 to 31 December 2015 would also have the option to choose their CPF LIFE plan at the point when they wish to start their CPF LIFE payouts, from their payout eligibility age. We will write to you nearer to your payout eligibility age to further explain the options you have and the choices you have to make.   </p><p>Choose the plan that best meets your retirement needs. Each LIFE plan provides a different combination of trade-offs between the amount of monthly payout that you would receive and the bequest that you would leave for your beneficiaries.​</p><p>While stable, the monthly payouts are not fixed. The payout amount will be reviewed annually and we may adjust your payout due to changes in mortality experience, interest rate and transactions which affect your Retirement Account balance. This will ensure that the CPF LIFE annuity fund is sustainable in the long run.</p><p>We will notify you two to three months before we make any adjustments to your monthly payout. ​</p>CPF LIFE17131712
EvaluateHow can I increase my payouts?<p>If you would like to receive higher payouts, you can make <a href="/Members/Schemes/schemes/retirement/retirement-sum-scheme/#Item1594">cash or CPF top-ups </a>(or both) into your Retirement Account if you have not reached your topping-up limit. From January 2016, you can top up to the Enhanced Retirement Sum (a sum set at three times the Basic Retirement Sum) to enjoy a higher monthly payout.</p><p>With the additional top-up to your Retirement Account, you can buy an extra CPF LIFE annuity to get a higher CPF LIFE payout.</p><p>The monthly payouts from CPF LIFE will be paid straight into your bank account by Inter-Bank GIRO (IBG) by the 4<sup>th</sup> working day of each month.</p><p>If the IBG is unsuccessful because you have closed your bank account, we will pay the payouts into your CPF Ordinary Account. </p><p>From January 2016, you have the option to start your CPF LIFE payouts later, up to age 70. For each year deferred, your monthly CPF LIFE payouts permanently increase by about 6% - 7%.</p>CPF LIFE15351535
EvaluateHow does the bequest work?<p>A bequest is the money that you leave to your beneficiaries after your death. </p><p>Under the CPF LIFE plans, we will refund all your unused annuity premium and Retirement Account savings, if any, after your death. </p><p>We will pay any refund into your CPF account. This will then be paid to your beneficiaries along with your remaining CPF savings.</p>CPF LIFE15271527
EvaluateCan I leave CPF LIFE after I have joined?<p>Once you have joined CPF LIFE, you can only leave the scheme for the following reasons:</p><ul style="list-style-type:disc;"><li>You have a medical condition which causes you:<br><br>- to be permanently unfit for any employment;<br>- to have a severely reduced life expectancy; or<br>- to be terminally ill.</li></ul><ul style="list-style-type:disc;"><li>You are about to leave, or have left Singapore and West Malaysia permanently with no intention of returning for work or to live.</li></ul><ul style="list-style-type:disc;"><li>You are a Malaysian citizen and have left Singapore permanently to live in West Malaysia.</li></ul><p>Upon exiting the scheme, you will receive a refund of the savings used to join CPF LIFE.</p><p>The refund is your unused annuity premium.</p><p>Like other annuity products, there may not be any refund if we have already paid out all your savings used to join CPF LIFE in the monthly payouts.</p><p>In addition, if you are receiving a monthly pension or payout under a personal annuity, you may apply to the CPF Board to be exempted from setting aside the retirement sum in your Retirement Account.</p><p>For more information on the refund and the exemption from CPF LIFE or the Retirement Sum Scheme, please email us at <a href="mailto:member@cpf.gov.sg"><strong>member@cpf.gov.sg</strong></a>.</p>CPF LIFE15391539
EvaluateWhat is the CPF LIFE Bonus?<p>The CPF LIFE Bonus is a bonus provided by the Government to encourage and help you join CPF LIFE.</p><p>To be eligible for the CPF LIFE Bonus, you need to:</p><ul><li>be a Singapore Citizen; </li><li>be born between 1958 and 1962; and </li><li>be placed on CPF LIFE; or</li><li>inform us before your 56<sup>th</sup> birthday on your decision to join CPF LIFE.</li></ul><p>The amount of CPF LIFE Bonus that you can receive depends on your Annual Assessable Income (AI) and the Annual Value (AV) of your home. It will be credited into your Retirement Account if you are a Singapore Citizen with at least $20,000 in your Retirement Account.</p><p>If you have less than $20,000 in your Retirement Account, your CPF LIFE Bonus will be reduced in proportion to the amount you joined CPF LIFE with.</p><p>Your AI is based on the assessment year before the year you turn 55. For example, if you turn 55 in 2016, we will use your AI for assessment year 2015 (that is, your income for 2014).</p><p>The AV we use to decide whether you are eligible for CPF LIFE Bonus is based on the AV of the property stated as your NRIC address as at 31 December before the year you turn 55. For example, if you turn 55 in 2016, we will use the 2015 AV of the property stated in your NRIC as of 31 December 2015.</p>CPF LIFE15401540
ApplyHow do I apply to join CPF LIFE?<p> <strong>Online using <em><strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices"><font color="#0066cc">SingPass</font></a>. </li><li>Submit an online application via My Requests.</li></ol><p> <strong>In-Person at CPF Service Centres</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank"><font color="#0066cc">Form LID-APP(1): Application for CPF LIFE</font></a>. </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us"><font color="#0066cc">CPF Service Centre</font></a>.</li></ol><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank"><font color="#0066cc">FORM LID-APP(1): Application for CPF LIFE</font></a>. </li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>238B Thomson Road<br>#08-00 Tower B Novena Square<br>Singapore 307685</li></ol><p>If you are already participating in CPF LIFE and would like to buy an extra CPF LIFE annuity with the additional top-up to your RA, you can download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank"><font color="#0066cc">Form LID-APP(1A): Application for Additional Annuity under CPF LIFE</font></a> and mail it to:<br></p><ul><p>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>238B Thomson Road<br>#08-00 Tower B Novena Square<br>Singapore 307685</p></ul><p>You can refer to our <a href="/Members/AboutUs/about-us-info/service-standards-for-members/retirement"><font color="#0066cc">service standards</font></a> for more information.</p>CPF LIFE15381538

 

 

UnderstandWhy do you need CPF LIFE? <p></p><p>People are living longer. While this is a good thing, it means that you need to save for a longer retirement or you may end up outliving your savings. Having an income for as long as you live has therefore become even more important.</p><p>With CPF LIFE, you will get a lifelong monthly payout starting from your payout eligibility age (previously known as the drawdown age), which is currently at age 65.​​</p>CPF LIFE15221522
UnderstandWho is CPF LIFE for?<p>You will be placed on CPF LIFE if you are a Singapore Citizen or Permanent Resident born in 1958 or after, and have at least:</p><ol><li>$40,000 in your Retirement Account when you reach 55 years old; or</li><li>$60,000 in your Retirement Account when you reach 65 years old.</li></ol><p>If you are not placed on CPF LIFE, you can apply to join CPF LIFE. You can make your application anytime between the time you wish to start your monthly payout (which will be from your payout eligibility age onwards) and before you turn 80 years old.</p><p style="text-align:center;"><img src="/Assets/members/PublishingImages/WhoisCPFLIFEfor.jpg" alt="" style="margin:5px;" /> </p>CPF LIFE15371537
EvaluateWhat are the CPF LIFE Plans available?<p style="text-align:left;">There are two CPF LIFE Plans for you to choose from – the LIFE Standard Plan and the LIFE Basic Plan. The plans differ on the</p><ul><li><strong>monthly payout</strong> you would receive; and </li><li>the amount you would bequest to your <strong>beneficiaries.</strong></li></ul><p><img src="/Assets/members/PublishingImages/CPFLIFEplansavailable.jpg" alt="" style="margin:5px;width:500px;height:228px;" />  </p>CPF LIFE15331533
EvaluateHow does CPF LIFE work?<p>At 55 years old, we will create your Retirement Account and transfer some of your CPF savings from your Special Account and/or Ordinary Account into this account to form your retirement sum.</p><p>Your retirement sum will be used to buy a CPF LIFE annuity to receive lifelong monthly payouts from your payout eligibility age, which is currently at age 65.</p><p>Depending on your desired CPF LIFE monthly payout and your CPF balances, you can choose from a range of payout options that best suit your needs in retirement.</p><p> <img src="/Assets/common/PublishingImages/Payouts65.jpg" alt="" style="margin:5px 0px;width:523px;height:455px;" /> </p><p> <em><sup>1</sup>Payouts are estimated based on CPF LIFE Standard Plan parameters in 2016. </em></p>CPF LIFE15341534
EvaluateWhen do I choose my CPF LIFE plan?<p></p><p>For members turning 55 before 1 July 2015, we will send you a letter to choose your CPF LIFE plan one month after your 55th birthday. You have six months to choose your plan. If you do not choose a plan, we will place you on the CPF LIFE Standard Plan. </p><p>From January 2016, members will only need to choose their CPF LIFE plan from their payout eligibility age at the point when they wish to start their CPF LIFE payouts.</p><p>In view of this upcoming change, members who are turning 55 from 1 July 2015 to 31 December 2015 would also have the option to choose their CPF LIFE plan at the point when they wish to start their CPF LIFE payouts, from their payout eligibility age. We will write to you nearer to your payout eligibility age to further explain the options you have and the choices you have to make.   </p><p>Choose the plan that best meets your retirement needs. Each LIFE plan provides a different combination of trade-offs between the amount of monthly payout that you would receive and the bequest that you would leave for your beneficiaries.​</p><p>While stable, the monthly payouts are not fixed. The payout amount will be reviewed annually and we may adjust your payout due to changes in mortality experience, interest rate and transactions which affect your Retirement Account balance. This will ensure that the CPF LIFE annuity fund is sustainable in the long run.</p><p>We will notify you two to three months before we make any adjustments to your monthly payout. ​</p>CPF LIFE17131712
EvaluateHow can I increase my payouts?<p>If you would like to receive higher payouts, you can make <a href="/Members/Schemes/schemes/retirement/retirement-sum-scheme/#Item1594">cash or CPF top-ups </a>(or both) into your Retirement Account if you have not reached your topping-up limit. From January 2016, you can top up to the Enhanced Retirement Sum (a sum set at three times the Basic Retirement Sum) to enjoy a higher monthly payout.</p><p>With the additional top-up to your Retirement Account, you can buy an extra CPF LIFE annuity to get a higher CPF LIFE payout.</p><p>The monthly payouts from CPF LIFE will be paid straight into your bank account by Inter-Bank GIRO (IBG) by the 4<sup>th</sup> working day of each month.</p><p>If the IBG is unsuccessful because you have closed your bank account, we will pay the payouts into your CPF Ordinary Account. </p><p>From January 2016, you have the option to start your CPF LIFE payouts later, up to age 70. For each year deferred, your monthly CPF LIFE payouts permanently increase by about 6% - 7%.</p>CPF LIFE15351535
EvaluateHow does the bequest work?<p>A bequest is the money that you leave to your beneficiaries after your death. </p><p>Under the CPF LIFE plans, we will refund all your unused annuity premium and Retirement Account savings, if any, after your death. </p><p>We will pay any refund into your CPF account. This will then be paid to your beneficiaries along with your remaining CPF savings.</p>CPF LIFE15271527
EvaluateCan I leave CPF LIFE after I have joined?<p>Once you have joined CPF LIFE, you can only leave the scheme for the following reasons:</p><ul style="list-style-type:disc;"><li>You have a medical condition which causes you:<br><br>- to be permanently unfit for any employment;<br>- to have a severely reduced life expectancy; or<br>- to be terminally ill.</li></ul><ul style="list-style-type:disc;"><li>You are about to leave, or have left Singapore and West Malaysia permanently with no intention of returning for work or to live.</li></ul><ul style="list-style-type:disc;"><li>You are a Malaysian citizen and have left Singapore permanently to live in West Malaysia.</li></ul><p>Upon exiting the scheme, you will receive a refund of the savings used to join CPF LIFE.</p><p>The refund is your unused annuity premium.</p><p>Like other annuity products, there may not be any refund if we have already paid out all your savings used to join CPF LIFE in the monthly payouts.</p><p>In addition, if you are receiving a monthly pension or payout under a personal annuity, you may apply to the CPF Board to be exempted from setting aside the retirement sum in your Retirement Account.</p><p>For more information on the refund and the exemption from CPF LIFE or the Retirement Sum Scheme, please email us at <a href="mailto:member@cpf.gov.sg"><strong>member@cpf.gov.sg</strong></a>.</p>CPF LIFE15391539
EvaluateWhat is the CPF LIFE Bonus?<p>The CPF LIFE Bonus is a bonus provided by the Government to encourage and help you join CPF LIFE.</p><p>To be eligible for the CPF LIFE Bonus, you need to:</p><ul><li>be a Singapore Citizen; </li><li>be born between 1958 and 1962; and </li><li>be placed on CPF LIFE; or</li><li>inform us before your 56<sup>th</sup> birthday on your decision to join CPF LIFE.</li></ul><p>The amount of CPF LIFE Bonus that you can receive depends on your Annual Assessable Income (AI) and the Annual Value (AV) of your home. It will be credited into your Retirement Account if you are a Singapore Citizen with at least $20,000 in your Retirement Account.</p><p>If you have less than $20,000 in your Retirement Account, your CPF LIFE Bonus will be reduced in proportion to the amount you joined CPF LIFE with.</p><p>Your AI is based on the assessment year before the year you turn 55. For example, if you turn 55 in 2016, we will use your AI for assessment year 2015 (that is, your income for 2014).</p><p>The AV we use to decide whether you are eligible for CPF LIFE Bonus is based on the AV of the property stated as your NRIC address as at 31 December before the year you turn 55. For example, if you turn 55 in 2016, we will use the 2015 AV of the property stated in your NRIC as of 31 December 2015.</p>CPF LIFE15401540
ApplyHow do I apply to join CPF LIFE?<p> <strong>Online using <em><strong>my cpf</strong></em></strong></p><ol><li style="margin-bottom:5pt;">Login with your <a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices"><font color="#0066cc">SingPass</font></a>. </li><li>Submit an online application via My Requests.</li></ol><p> <strong>In-Person at CPF Service Centres</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank"><font color="#0066cc">Form LID-APP(1): Application for CPF LIFE</font></a>. </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us"><font color="#0066cc">CPF Service Centre</font></a>.</li></ol><p> <strong>Mail</strong></p><ol><li style="margin-bottom:5pt;">Download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank"><font color="#0066cc">FORM LID-APP(1): Application for CPF LIFE</font></a>. </li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>238B Thomson Road<br>#08-00 Tower B Novena Square<br>Singapore 307685</li></ol><p>If you are already participating in CPF LIFE and would like to buy an extra CPF LIFE annuity with the additional top-up to your RA, you can download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank"><font color="#0066cc">Form LID-APP(1A): Application for Additional Annuity under CPF LIFE</font></a> and mail it to:<br></p><ul><p>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>238B Thomson Road<br>#08-00 Tower B Novena Square<br>Singapore 307685</p></ul><p>You can refer to our <a href="/Members/AboutUs/about-us-info/service-standards-for-members/retirement"><font color="#0066cc">service standards</font></a> for more information.</p>CPF LIFE15381538

 

 

CPF LIFE Payout Estimator CPF LIFE Payout Estimator <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifePayoutEstimator/LifePayoutEstimator" target="_blank"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Life_Estimator.asp</a>

 

 

 

 

 

 

Application for CPF LIFEApplication for CPF LIFE<a href="/Assets/members/Documents/OnlineDemo/CPF_LIFE.mp4" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">Application for CPF LIFE</a>
Application for CPF LIFE Additional AnnuityApplication for CPF LIFE Additional Annuity<a href="/Assets/members/Documents/OnlineDemo/CPF_LIFE_Additional_Annuity.mp4" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">Application for CPF LIFE Additional Annuity</a>

 

 

 

 

 

 

 

 

Application for CPF LIFE Plan<a href="/Assets/members/Documents/FORM_LIDAPP1.pdf" target="_blank" title="Application for CPF LIFE Plan"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application for CPF LIFE Plan</a><a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" title="Application for CPF LIFE Plan"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application for CPF LIFE Plan</a>FORM LID-APP(1)00
Application for Additional Annuity under CPF LIFE<a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank" title="Application for Additional Annuity Under CPF LIFE"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application for Additional Annuity Under CPF LIFE</a><a href="https://www.cpf.gov.sg/eSvc/Web/PortalServices/MemberPortalServices" title="Application for Additional Annuity Under CPF LIFE"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application for Additional Annuity Under CPF LIFE</a><p>​FORM LID-APP(1A)</p>00

 

 

GP0|#8344bf92-7547-4e85-99a1-a6524d79436d;L0|#08344bf92-7547-4e85-99a1-a6524d79436d|CPF LIFE;GTSet|#86bc1bef-95c5-4ce4-91b5-375cc0c5ca12;GPP|#a56802a5-8ab8-4b3f-9c10-049cec8755be;GPP|#286ba088-23db-40b8-bc8b-e3dbdc098d5f

 

 

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