WE THANK Mr Richard Foo for his letter on Oct 27, 'CPF Minimum Sum: Allow higher payouts', and Mr Johnny Sim for his Forum Online letter last Thursday, 'No word from CPF Board about higher payout request', on payouts under the CPF Minimum Sum.

Mr Sim visited the CPF Board on Sept 15 to inquire about the Minimum Sum Topping-Up Scheme on behalf of his mother. The board replied to his mother on Sept 22, and has since contacted Mr Sim to update him.

Members who reach 55 years of age will have a Minimum Sum level specific to their age cohort. Those who top up their CPF Retirement Account savings to the Minimum Sum applicable to their cohort will generally see a proportional increase in their CPF monthly payout. Top-ups beyond a member's cohort Minimum Sum will go towards extending the duration of the monthly payouts. There is a need to achieve a balance between higher payouts and longer duration to meet members' retirement needs.

Members can consider joining CPF Life, which provides an income for life. It is offered to those who have turned 55, on an opt-in basis.

We would like to invite Mr Foo to contact Ms Sun Hui Yee, Senior Assistant Director (Minimum Sum) from CPF Board, on 6229-3396, so we can look into his case.

Farah Abdul Rahim

Director, Corporate Communications

Ministry of Manpower