Q: I am considering buying an annuity as one way to supplement the payouts from CPF Life (Lifelong Income for the Elderly). What are the pros and cons?
Many people approaching retirement are hoping to maintain a standard of living close to what they have when they are working. While CPF Life – the national longevity insurance annuity scheme – provides monthly payouts for life, it may not be sufficient should people be aiming for a more luxurious lifestyle.
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