Escalating Plan an option for CPF Life members

The CPF Maxwell Service Centre. Singapore citizens or permanent residents born in 1958 or after, with at least $60,000 in their Retirement Account six months before reaching age 65, will be placed on the CPF Life scheme, which offers risk-free monthl
The CPF Maxwell Service Centre. Singapore citizens or permanent residents born in 1958 or after, with at least $60,000 in their Retirement Account six months before reaching age 65, will be placed on the CPF Life scheme, which offers risk-free monthly payouts to help fund their golden years for life.ST PHOTO: FELINE LIM

It is suitable for those who want their payouts to hedge against inflation

National annuity scheme Central Provident Fund (CPF) Life is the foundation of the retirement plans for most of us, so it is crucial that we know the nuts and bolts of our options.

Essentially, CPF Life offers risk-free monthly payouts that can help fund our golden years for life, so we need not worry about outliving our savings.

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A version of this article appeared in the print edition of The Sunday Times on December 16, 2018, with the headline 'Escalating Plan an option for CPF Life members'. Print Edition | Subscribe