Skip Ribbon Commands
Skip to main content

 

 

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 they live.​ </p><div class="cpf-alert-info"> <strong>Note: CPF LIFE Escalating Plan will be available from January 2018</strong></div>TrueTrueTrue

 

 

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.​</p>CPF LIFE15221522
UnderstandWho is CPF LIFE for?<p>You will have to join CPF LIFE if you are a Singapore Citizen or Permanent Resident born in 1958 or after, and have the following Retirement Account balances:</p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" style="width:50%;">​<strong>You turned 55 between 1 January 2013 and 30 April 2016</strong></td><td class="ms-rteTableOddCol-default" style="width:50%;"> <strong>​You turned 55 on 1 May 2016 and after</strong></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableFooterEvenCol-default" rowspan="1" style="width:50%;"><ul><li> <span style="color:#444444;">At least ​$40,000 in your Retirement Account when you reach 55 years old; or <br><br></span></li><li> <span style="color:#444444;">At least $60,000 in your Retirement Account six months before you reach your payout eligibility age.</span></li></ul></td><td class="ms-rteTableFooterOddCol-default" rowspan="1" style="width:50%;"><ul><li> <span style="color:#444444;">At least $60,000 in your Retirement Account six months before you reach your payout eligibility age.​</span></li></ul></td></tr></tbody></table> <br>​ <p>You can choose your CPF LIFE plan at the time when you wish to start receiving your monthly payouts, which will be anytime between age 65 and age 70.</p><p>If you do not have the stated Retirement Account balances or if you are born before 1958, you can still apply to join CPF LIFE. You can make your application to join CPF LIFE plan at any time between your payout eligibility age and one month before age 80.​</p> <p style="text-align:center;"> <img alt="Who is CPF LIFE for" src="/Assets/members/PublishingImages/WhoisCPFLIFEfor.jpg" style="width:60%;height:auto;" /> <br></p>CPF LIFE15371537
EvaluateWhat are the CPF LIFE plans available?<p style="text-align:left;">There are three CPF LIFE plans for you to choose from – the LIFE Standard Plan, the LIFE Basic Plan and the LIFE Escalating Plan (available from January 2018).</p><p>The plans differ in terms of:</p><ul><li> <strong>monthly payout</strong> you would receive; and </li><li>the amount you would leave (i.e. <strong>bequest</strong>) to your beneficiaries.<br></li></ul><p> <img class="img-responsive" alt="CPF LIFE Plans" src="/Assets/members/PublishingImages/CPFLIFE3plansavailable.jpg" /> <br> </p>CPF LIFE15331533
EvaluateHow much CPF LIFE monthly payout will I receive?<p>​Your CPF LIFE monthly payouts would depend on the savings you have in your Retirement Account.​</p><div class="hidden-xs"><table class="cpf-table cpf-form-table--vtop " width="100%"><thead><tr><th colspan="1" width="50%">​<br></th><th width="25%" style="text-align:left;">Retirement Account savings required at 55</th><th width="25%" style="text-align:left;">Your monthly payout* for life from 65</th></tr></thead><tbody style="text-align:left;"><tr><td colspan="1" width="50%">If you own a property and choose to withdraw your Retirement Account savings above your Basic Retirement Sum (subject to sufficient CPF property charge/pledge)<br></td><td width="25%"><p> <span aria-hidden="true"></span> <strong>Basic Retirement Sum (BRS)</strong></p><p>$83,000<span aria-hidden="true"></span></p> </td><td width="25%"><div> $700 - $750<br></div></td></tr><tr><td colspan="1" width="50%">If you do not own a property or choose not to withdraw your Retirement Account savings above your Basic Retirement Sum<br></td><td width="25%"><p> <span aria-hidden="true"></span> <strong>Full Retirement Sum (FRS)</strong></p><p>$166,000</p><div> </div><div>The FRS is 2 x BRS.<span aria-hidden="true"></span></div></td><td><div> $1,280 - $1,380</div></td></tr><tr><td colspan="1">If you wish to put more savings in CPF LIFE</td><td><p> <span aria-hidden="true"></span> <strong>Enhanced Retirement Sum (ERS)</strong> </p><div>$249,000</div><div> </div><div>The ERS is 3 x BRS.​<span aria-hidden="true"></span></div></td><td><div> $1,860 - $2,000</div></td></tr></tbody></table></div><div class="visible-xs"><table class="cpf-table cpf-form-table--vtop " width="100%"><thead><tr><th colspan="2" width="50%">If you own a property and choose to withdraw your Retirement Account savings above your Basic Retirement Sum (subject to sufficient CPF property charge/pledge)<br></th></tr></thead><tbody style="text-align:left;"><tr><td colspan="1" width="50%">Retirement Account savings required at 55<br></td><td width="25%"> <strong>Basic Retirement Sum (BRS)</strong> <div>$83,000<span aria-hidden="true"></span></div></td></tr><tr><td colspan="1" width="50%">Your monthly payout* for life from 65<br></td><td width="25%">$700 - $750<br></td></tr></tbody></table><table class="cpf-table cpf-form-table--vtop " width="100%"><thead><tr><th colspan="2" width="50%">If you do not own a property or choose not to withdraw your Retirement Account savings above your Basic Retirement Sum<br></th></tr></thead><tbody style="text-align:left;"><tr><td colspan="1" width="50%">Retirement Account savings required at 55<br></td><td width="25%"> <strong>Full Retirement Sum (FRS)</strong> <div>$166,000</div><div>The FRS is 2 x BRS.<br></div></td></tr><tr><td colspan="1" width="50%">Your monthly payout* for life from 65</td><td width="25%">$1,280 - $1,380</td></tr></tbody></table><table class="cpf-table cpf-form-table--vtop " width="100%"><thead><tr><th colspan="2" width="50%">If you wish to put more savings in CPF LIFE<br></th></tr></thead><tbody style="text-align:left;"><tr><td colspan="1" width="50%">Retirement Account savings required at 55<br></td><td width="25%"> <strong>Enhanced Retirement Sum (ERS)</strong> <div>$249,000</div><div>The ERS is 3 x BRS.<br></div></td></tr><tr><td colspan="1" width="50%">Your monthly payout* for life from 65</td><td width="25%">$1,860 - $2,000<br></td></tr></tbody></table> <br> </div> <em> <sup>*</sup>Payout figures are estimates, based on the CPF LIFE Standard Plan and computed as of 2017.</em> <p></p><p> <em>You can use the </em> <a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/LifePayoutEstimator/LifePayoutEstimator"> <em>CPF LIFE Payout Estimator</em></a><em> to estimate your monthly payouts under the CPF LIFE plans.</em></p>CPF LIFE15341534
EvaluateWhen do I choose my CPF LIFE plan?<p>We will write to you six months before you reach your payout eligibility age to further explain the options you have and the choices you have to make. You will only need to choose your CPF LIFE plan when you wish to start receiving your CPF LIFE monthly payouts.<br></p><p>​Each LIFE plan provides a different combination of trade-offs between the amount of monthly payouts that you would receive and the bequest that you would leave for your beneficiaries. Choose the plan that best meets your retirement needs.​</p>CPF LIFE17131712
EvaluateHow can I increase my CPF LIFE monthly payouts?<p>If you would like to receive higher payouts, you can make <a href="/Members/Schemes/schemes/retirement/retirement-sum-topping-up-scheme#Item1594">cash top-ups or CPF transfers</a> (or both) into your Retirement Account if you have not reached your topping-up limit. ​Y​ou can​ top up to the Enhanced Retirement Sum (a sum set at three times the ​Ba​sic Retirement Sum).</p><p>With the additional top-up to your Retirement Account, you can buy an additional CPF LIFE annuity to get a higher CPF LIFE payout.</p><p>You also have the option to start your CPF LIFE payouts later, up to age 70. For each year deferred, your CPF LIFE monthly payouts may increase up to 7%.​</p>CPF LIFE15351535
EvaluateWhen will I receive my CPF LIFE monthly payout?<p>The monthly payouts from CPF LIFE will be paid straight into your bank account through Inter-Bank GIRO (IBG) by the 4th 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>CPF LIFE19021736
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 (without interest) ​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 physically or mentally incapacitated from ever continuing in any employment; or<br>- to have a severely impaired life expectancy; or<br>- to lack capacity within the meaning of Section 4 of the Mental Capacity Act (MCA) and the lack of capacity is likely to be permanent; 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 (without interest)​.</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
EvaluateCan I receive CPF LIFE Bonus?<p>You can receive CPF LIFE Bonus if you are a Singapore Citizen born between 1958 and 1962 and have at least $40,000 in your Retirement Account when you turn 55.</p><p>The CPF LIFE Bonus will be paid into your Retirement Account to enhance your CPF LIFE monthly payouts.</p><p>The amount of CPF LIFE Bonus you can receive depends on your annual Assessable Income (AI) and the Annual Value (AV) of your home.</p><table cellspacing="0" width="100%" class="ms-rteTable-default"><tbody><tr class="ms-rteTableEvenRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="2" style="width:33.3333333333333%;">​<strong>Assessable Income (AI)</strong> ​</td><td class="ms-rteTableOddCol-default" colspan="2" style="width:33.3333333333333%;"> <strong>Amount of CPF LIFE Bonus</strong><br></td></tr><tr class="ms-rteTableOddRow-default" style="text-align:center;"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.3333333333333%;"><div> <strong>​</strong><strong>If Annual Value (AV) of</strong></div><div> <strong>property is $9,600 or less​</strong></div></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:33.3333333333333%;">​<strong>If Annual Value (AV) of property is between $9,600 and $13,000</strong></td></tr><tr class="ms-rteTableEvenRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;">​<strong>$27,000 or less</strong></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;">​​$1,200<br></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;">​$950<br></td></tr><tr class="ms-rteTableFooterRow-default"><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;"> <strong style="color:#444444;">Between $27,000 and $60,000​</strong></td><td class="ms-rteTableOddCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;"> <span style="color:#444444;">​​$950</span></td><td class="ms-rteTableEvenCol-default" rowspan="1" style="width:33.3333333333333%;text-align:center;"> <span style="color:#444444;">​$650</span></td></tr></tbody></table>​​ <p>The CPF LIFE Bonus figures above are applicable to members turning 55 in 2017.</p><p>If you do not have at least $40,000 in your Retirement Account when you turn 55, you can still receive a CPF LIFE Bonus if you inform us before your 56th birthday on your decision to join CPF LIFE. Please note that your CPF LIFE Bonus will be proportionately reduced if you have less than $20,000 in your Retirement Account before your 56th birthday.</p><p>​You can refer to our <a href="/members/faq/schemes/retirement/cpf-life">CPF LIFE Bonus FAQ​</a> for more information on CPF LIFE Bonus.<br></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">SingPass</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">Form LID-APP(1): Application for CPF LIFE</a> (PDF, 0.5MB). </li><li>Bring your NRIC and go to any <a href="/Members/Contact/visit-us">CPF Service Centre</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">FORM LID-APP(1): Application for CPF LIFE</a> (PDF, 0.5MB). </li><li>Mail it to:<br>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060</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 Retirement Account, you can download and fill up <a href="/Assets/members/Documents/FORM_LIDAPP1A.pdf" target="_blank">Form LID-APP(1A): Application for Additional Annuity under CPF LIFE</a> (PDF, 0.4MB) and mail it to:<br></p><ul><p>Central Provident Fund Board<br>Lifelong Income Department (LID)<br>Robinson Road<br>P.O. Box 3060<br>Singapore 905060</p></ul><p>You can refer to our <a href="/Members/AboutUs/about-us-info/service-standards-for-members/retirement">service standards</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 LIFE (MP4, 1.1MB)Application for CPF LIFE (MP4, 1.1MB)<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 Annuity (MP4, 1.0MB)Application for CPF LIFE Additional Annuity (MP4, 1.0MB)<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 to Start CPF LIFE Payout (MP4, 0.5MB)Application to Start CPF LIFE Payout (MP4, 0.5MB)<a href="/Assets/members/Documents/OnlineDemo/LID_DE2.mp4" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">LID_DE2.mp4</a>
Application to Defer CPF LIFE Payout (MP4, 0.5MB)Application to Defer CPF LIFE Payout (MP4, 0.5MB)<a href="/Assets/members/Documents/OnlineDemo/LID_DE1.mp4" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icgen.gif">LID_DE1.mp4</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/Schemes/LifeApplication/Index" title="Application for CPF LIFE Plan"><img alt="" src="/_layouts/15/IMAGES/ichtm.gif">Application for CPF LIFE Plan</a>FORM LID-APP(1) (PDF, 0.5MB)<br>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/Schemes/LifeAdditionalAnnuityApplication/Index" 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) (PDF, 0.4MB)<br></p>00
Application to Start CPF LIFE Payout<a href="/Assets/members/Documents/FORM_LIDDE2.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application to Start CPF LIFE Payout</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplicationToStartCpfLifePayout/Cover">Application to Start CPF LIFE Payout</a><p>​​FORM LID-DE2 (PDF, 0.1MB)<br></p>00
Application to Defer CPF LIFE Payout<a href="/Assets/members/Documents/FORM_LIDDE1.pdf" target="_blank"><img alt="" src="/_layouts/15/IMAGES/icpdf.png">Application to Defer CPF LIFE Payout</a><a href="https://www.cpf.gov.sg/eSvc/Web/Schemes/ApplicationToDeferCpfLifePayout/Index">Application to Defer CPF LIFE Payout</a><p>​FORM LID-DE1 (PDF, 0.2MB)<br></p>00

 

 

CPF LIFERetirement

 

 

<h3> <strong>Understand</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​What is the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default"><p>​The CPF LIFE Escalating Plan is a new plan in addition to the current two CPF LIFE plans – Basic and Standard Plans.<br></p><p>The CPF LIFE Escalating Plan gives members the option of starting with a lower initial payouts which will increase by 2% per year. The 2% increase will take place every year in the month that the first payout was made.<br></p><p>As with all CPF LIFE plans, payouts may be adjusted to account for long-term changes in interest rates or life expectancy. Such adjustments (if any) are expected to be small and gradual.<br></p><p>The CPF LIFE Escalating Plan is suitable for members who do not have an immediate need for higher payouts.</p></td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​How much premium do I need to pay under the new CPF LIFE Escalating Plan?<strong></strong></strong></td></tr><tr><td class="ms-rteTable-default">​Under the CPF LIFE Escalating Plan, all your Retirement Account savings will be deducted as annuity premium and paid into the Lifelong Income Fund which will provide you with a monthly payout from your payout start age for as long as you live.</td></tr></tbody></table><p> </p><h3> <strong>Evaluate</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>​I am not an existing CPF LIFE member. Can I join the new CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">Yes, you can join the CPF LIFE Escalating Plan if you are a Singapore Citizen or Permanent Resident. Please visit our <a href="/Members/Schemes/schemes/retirement/cpf-life">CPF LIFE webpage</a> to understand more about CPF LIFE before you apply for your CPF LIFE plan.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>I am an existing CPF LIFE member. Will I be allowed to switch to the new CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default"><p>​Yes. All existing CPF LIFE members, including members who had switched to CPF LIFE Standard Plan previously, can choose to switch to the CPF LIFE Escalating Plan between January to December 2018.<br></p><p>If you choose to switch to the new CPF LIFE Escalating Plan, your new payout may be reduced by 20% or more from your current payout. This is because, for the same annuity premium and other factors being equal, a CPF LIFE plan with payouts that increase over time, will have starting payouts that are lower, compared to a CPF LIFE plan with level payouts that do not increase over time. This is based on independent and objective actuarial calculations.</p></td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>Will I be allowed to switch to plans other than the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">​No. Existing CPF LIFE members will not be able to switch to other plans other than the CPF LIFE Escalating Plan. An exception is made to allow members to switch to the CPF LIFE Escalating Plan as it is a new plan that was previously not available to members.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>Will I receive any incentive for switching to the CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">No. Members should decide whether or not to switch based on whether the new plan suits their retirement needs.</td></tr></tbody></table><p> </p><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>How will I be affected if I remain under the existing plans?</strong></td></tr><tr><td class="ms-rteTable-default">​Your CPF LIFE policy which was issued to you will continue to apply, and the introduction of the new CPF LIFE Escalating Plan from January 2018 will not affect you.</td></tr></tbody></table><p> </p><h3> <strong>Apply</strong></h3><table width="100%" class="ms-rteTable-default" cellspacing="0"><tbody><tr><td class="ms-rteTable-default" style="width:100%;"> <strong>How do I apply to switch to CPF LIFE Escalating Plan?</strong></td></tr><tr><td class="ms-rteTable-default">Application forms for switching to CPF LIFE Escalating Plan will be available from January 2018.</td></tr></tbody></table><p> </p>

Your session will be terminated soon. Click 'OK' to continue or 'Cancel' to Logout.

 

Your screen width is too small to display

Please adjust the width of your browser or use a desktop machine for a better web experience.

Thank you.