Small Change

Live long and prosper with CPF Life

While I prefer the old scheme's 20-year fixed payout, it's CPF Life that will provide me a monthly income for as long as I live

Ten years ago, the Central Provident Fund (CPF) Board introduced CPF Life after studies showed that Singaporeans were living longer and longer, with many past age 85 when their monthly retirement payout would have run out under the old Retirement Sum Scheme.

CPF Life is the national annuity plan, providing lifelong income throughout retirement, which is the logical thing to do to avoid a situation in which one's savings or income runs out before one's life does.

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A version of this article appeared in the print edition of The Sunday Times on February 24, 2019, with the headline 'Live long and prosper with CPF Life'. Print Edition | Subscribe