Planning For Your Golden Years



The CPF LIFE scheme provides you with a monthly payout from your payout eligibility age, which is currently at age 65, to meet your retirement needs.​


You will be placed on CPF LIFE if you are a Singapore Citizen or Permanent Resident and have the following savings in your Retirement Account.


If you turn 55 before 1 May 2016, you will be placed on CPF LIFE, if you have at least:

1. $40,000 in your Retirement Account when you reach 55 years old; or

2. $60,000 in your Retirement Account when you are near your payout eligibility age.


If you turn 55 on 1 May 2016 or after, you will be placed on CPF LIFE, if you have at least $60,000 in your Retirement Account when you are near your payout eligibility age. 

If you are not placed on CPF LIFE, you can apply to join anytime between your payout eligibility age and before you turn 80 years old or remain on the Retirement Sum Scheme.


CPF LIFE monthly payouts are designed to be stable. However, in line with the best practices of well-run and sustainable pension schemes, monthly payouts may be adjusted to keep the scheme sustainable. 

For more information on CPF LIFE, click here​.

Unlocking The Value of Your Home
Your home and your CPF savings are the twin pillars of retirement. To supplement your retirement income, you can rent out your home or unlock the value of your home through the following schemes:

1. Silver Housing Bonus:​

This helps lower-income elderly households supplement their retirement income when they right-size their flat. What is right-sizing and what are the bonuses available?  Find out more​.

2. ​Enhanced Lease Buyback Scheme:

This is an additional monetisation option to help low-income elderly households in 4-room and smaller flats unlock part of their housing equity. This helps them continue living in their homes while receiving a lifelong income stream. Find​ out more​.


Managing My Retirement Funds


Prudent management of your funds can help reduce uncertainty during your retirement. 
As your retirement income may depend on investment income as well as withdrawals from your savings, a budget can be useful. This helps in tracking your income and expenses as you make lifestyle adjustments.

If your investment income is irregular in terms of amount and timing, you may need to adjust your bank saving withdrawals to ensure you have sufficient income. If you have fixed deposits, do remember the dates to roll over the deposit and make transfers into your current account for daily expenses, should you need to.

A budget can also help identify if you are spending your retirement funds too quickly. If so, here are some simple tips to help reduce your expenses:  

  • Make or bake gifts for your friends and family instead of buying them expensive gifts.
  • Use public transport like buses or trains.
  • Make full use of concessions for seniors, whenever possible.  




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