You can apply to join CPF LIFE at any time from 65 to one month before you reach 80 via the Apply for CPF LIFEform.
If you are an existing CPF LIFE member
You do not need to apply to start your monthly payouts as it will be automatically paid to you from the month you turn 65. However, if you wish to defer payouts, you can do so using the Apply to Defer CPF LIFE Payoutform.Please note that you can only defer your CPF LIFE monthly payout up to age 70.
If you had deferred your payout previously and want to start your payout now, you can use the Apply to Start CPF LIFE Payoutform.
The Central Provident Fund (CPF) is a key pillar of Singapore's social security system. CPF helps Singapore Citizens and Permanent Residents set aside funds to build a strong foundation for retirement.
LIFE monthly payouts? You can submit your instructions on CPF LIFE monthly payouts via Plan my monthly payouts service. You do not need to apply to start your monthly payouts as it will be automatically paid to you from the month you turn 65.
If you are already enrolled in CPF LIFE, one way to boost your monthly payouts is to increase your CPF LIFE premiums. To do so, you must first make a cash top-up or CPF transfer to your Retirement Account. If you own a property, you can also consider monetising your property to boost your monthly payouts.
You can apply to start receiving monthly payouts at any time after age 65. Payouts will start automatically at 70 if you have not chosen to start earlier.
If you opt for the Basic Plan, about 80-90% of your Retirement Account (RA) savings will be directly used to provide payouts until age 90. The remaining 10-20% will be deducted as your CPF LIFE premium when you join CPF LIFE and used to provide payouts from age 90 for the rest of your life.
Here's an interesting fact: For every year that you defer your CPF LIFE payouts, your monthly payout amount increases by up to 7%. This means that if you defer for 5 years, your monthly payout could increase by up to 35%. Hence, weigh your options and make the decision that is best for you and your retirement goals.
There are three CPF LIFE plans to choose from – Escalating Plan, Standard Plan and Basic Plan. Do plan for your retirement with inflation in mind. For example, if your monthly expenditure is $1,000 today, you may need about $1,500 monthly payouts to maintain the same lifestyle in 20 years' time.
When the ERS becomes $426,000 in 2025, you can also top up to this amount to enjoy the enhanced payout of $3,330. The increase of $117,300 from the ERS in 2024 is huge, but you can top up in stages with either CPF or cash.
Members can also choose to start their payouts from age 65 to 70, so those who want to defer payouts until 70 will continue to earn interest on their savings in the Retirement Account until then.
CPF Board will send you a notification three months before your 65th birthday to explain your options and guide you in choosing your CPF LIFE plan. Your payouts will automatically start when you turn 70 if you have not instructed CPF Board regarding your payouts by then.
In the event of your passing, any CPF LIFE unused premium (i.e. CPF LIFE premium balance), together with your remaining CPF savings, will be refunded to your loved ones.
If you're not automatically included in CPF LIFE, you can choose your CPF LIFE plan when you wish to join the scheme, any time from 65 to one month before you turn 80.
If you've only got a minute: Premiums will be deducted from your Retirement Account (RA) savings when you join CPF LIFE. Under Retirement Sum Scheme (RSS), you will receive monthly payouts till age 90 or until your savings runs out, whichever is earlier. CPF LIFE allows you to receive monthly payouts for life.
Firstly, CPF Life provides a more-or-less fixed* payout each month for the duration of your life. However, there is no option to adjust the payouts to keep pace with inflation, so you may find it more difficult to get by as time goes on.
Generally, when you turn 55, you can withdraw at least $5,000 or any amount in excess after setting aside your Full Retirement Sum (FRS). If you are born in 1958 and after, when you turn 65, you can withdraw an additional amount of up to 20% of your retirement savings. See more details on the withdrawal rules.
Log in to my cpf digital services with your Singpass > Select 'my cpf' at the top right-hand corner > Select 'Contribution History' under My statements > Select PDF icon on the top right-hand corner to download a copy of your Contribution History statement.
Every month, 20% of your wages are automatically allocated towards your CPF contributions. On top of that, your employer contributes 17% of your wages to this amount*.
Introduction: My name is Francesca Jacobs Ret, I am a innocent, super, beautiful, charming, lucky, gentle, clever person who loves writing and wants to share my knowledge and understanding with you.
We notice you're using an ad blocker
Without advertising income, we can't keep making this site awesome for you.
