CPF LIFE Standard, Basic or Escalating Plan: Which Should You Choose?

[@jessiejames7492]

you guysare angels explaining all this i didnt know a lot when my time came . i know better now

[@ProvidendSG]

Thank you for your kind comments @jessiejames7492 and have a lovely day ahead!

[@ritawong4279]

😊

[@ChoonKokLim]

Very informative, something CPF don’t tell us. All the while I thought standard plan is the best. But also depends on how much money you want to get in your living years and how much you want to bequest to your family especially if you are the only sole bread winner and does not have any other financial instruments in your portfolio. For financially wealth stable guys, the standard plan is a no brainer. If you want to YOLO, I think the Standard plan will get the most out of your living years.

[@ProvidendSG]

Thank you @user-kl3hk8uw4u for your kind comments and encouragement!

[@justineesun3396]

sharing the same thought as you, He did a Great Service and Job for providing such CRUCIAL information.

[@justineesun3396]

This is by far the BEST explanation, analogy and detailed presentation seen in the channels or even the Board itself. Thank You.

[@ProvidendSG]

Hi @justineesun3396, thank you for encouraging us and taking the time to comment, we appreciate it a lot. For more information on CPF, we have put together an FAQ page which we hope you will find useful: providend.com/frequently-asked-questions-about-cpf/ Take care and have a restful week ahead!

[@joshypaul6188]

Thank you so much. Finally a video that explained the bequest. I will have to go for the basic plan.

[@ProvidendSG]

Thank you @joshypaul6188 for taking the time to leave a comment and we glad we were able to provide some clarity for you.

[@ragsoh]

My goodness - I am not aware of some of the things shared here e.g. AP. Thank you very much Providend. You are the best.

[@ProvidendSG]

You are most welcome @ragsoh, we are glad we could help in any small way. We invite you to subscribe to our weekly newsletter so you are kept in touch with any updates from our team of experts: providend.com/#newsletter-subscribe Have a lovely evening ahead.

[@tjkbeluga]

Thank you! This is by far the clearest explanation on the diff between Basic and Standard. For the first time, I can see the benefit between Standard vs Basic Plan. One thing though, seems like there is a mistake in payout chart. The escalating plan does not show any increase of payout throughout the different ages.

[@ProvidendSG]

Dear @tjkbeluga, thank you so much for the encouragement! On the Escalating plan, thank you for pointing the error out. We will take note for future videos. The numbers should be going up at different ages. The estimated payout will be as follows : Age 65 : $1,126 - $1,252 Age 75 : $1,373 - $1,526 Age 85 : $1,673 - $1,860 Age 95 : $2,040 - $2,268 Hope the above helps and appreciate you taking the time to leave this comment. Have a wonderful weekend ahead!

[@sookiansheng]

Thank you very much for this video. It is very informative and these information are hard to get from CPF website. Your slides illustration are also very easy to understand. Now I am much better inform about CPF-Life.

[@ProvidendSG]

Dear @sookiansheng, we are so glad you have found this video to be useful and appreciate your time taken to leave an encouraging comment! Have a blessed week ahead.

[@jessicafoo2787]

Informative. I have a question. Does the Basic Plan works similarly to those on ERS? If ones passes on just after 65, does the bequest get the balance of R.A + interest + A.P ?

[@ProvidendSG]

Hi Jessica, thank you for your question. Yes, your understanding is correct and the bequest will be balance of R.A + interest + A.P for those on ERS too. Hope this helps, cheers! - Alvin (Client Adviser)

[@chewvictor3855]

Thank you! This is very helpful.

[@ProvidendSG]

Thank you for your kind comments, Victor!

[@HLNam-l1b]

This is better than all the FAQ in the cpf web Thank u! For basic plan , between 65 and 90 , does the RA balance continue to attract interest ?

[@anhoi6969]

As i understand it, all 3 plans earn interest. However, only interest in the Basic plan still belong to you until draw down to zero. For Standard/Escalating, the interest goes into a common pool, to pay those who live a super long life

[@boonkhim9852]

8​@@anhoi6969

[@ProvidendSG]

Hi @user-zs4rr7yl3p, thank you for taking to comment. For Basic Plan, the RA balance continues to earn interest between 65 and 90. Hope this helps and have a blessed day ahead!

[@kelvinyeo2047]

the number is very enlightening. how about the pledge property portion which is not mentioned at all. it will be nice to have the pledge property in the whole presentation as well. thanks

[@ProvidendSG]

Dear @kelvinyeo2047, thank you for watching our video on CPF. The pledging of property is mentioned from the 2:20 mark of video onwards. You should only do the pledging if you would like to take out more money from your CPF account. Hope this answers your question, here wishing you a Merry Christmas & joyous new year ahead! - Alvin, Client Adviser

[@cheesepieist]

Hi providend Thank you for the videos, but can you check if the numbers are correct ? 1. @12:37. you mentioned that CPF basic plan will carry on paying until 90 ? 730 X 25 years is alot of money before AP kicks in, Correct me if im wrong, but shouldnt that number be 80 ? 2. @22:08. It seems that escalating is not escalating ? its the same numbers throughout and worse so even lesser than standard.

[@ProvidendSG]

Hi @cheesepieist, thank you so much for your comment and sorry for the late reply! On the CPF Basic plan, about 80-90% of the RA savings along with the RA interest will be able to provide payouts until age 90. You can refer to this link on the CPF website for more details: www.cpf.gov.sg/member/faq/retirement-income/monthly-payouts/what-happens-to-my-ra-savings-when-i-join-cpflife On the Escalating plan, thank you for pointing the error out. We will take note for future videos. You are right that the numbers should be going up at different ages. The estimated payout will be as follows : Age 65 : $1,126 - $1,252 Age 75 : $1,373 - $1,526 Age 85 : $1,673 - $1,860 Age 95 : $2,040 - $2,268 Hope the above helps and I wish you all the best! - Alvin, Client Adviser

[@R6ex]

With dependents, BASIC plan is best. For self, either standard or escalating. Short life - STANDARD. Long life - ESCALATING.

[@alipromo53]

Not enough can go Comcare for assistance no need worry

[@ahmadibrahimagenera6454]

Good explainations. Thumbs up

[@ProvidendSG]

Thank you for your kind comments!

[@Goldcruz87]

Thank you sharinG. Learn a lot. Pls share more.

[@ProvidendSG]

Thank you @SoloMetal for your words of encouragement!

[@donyah9691]

Hi, thanks for the video, it’s very informative for people that reaching 55. BTW, did you know about the new CPF WITHDRAWAL rules for people at age 65? For people born in year 1958 and onwards, with FRS will be able to withdraw 20% of their RA savings. Can you explain how it works?

[@ProvidendSG]

Hi @donyah9691, thank you for your question. On the withdrawal of your RA at 65 years old, you can withdraw 20% of your RA balance less any Top-Ups, Government Grants and the unconditional $5,000 that you can withdraw at 55 years old. There an example of the calculation on CPF website, please refer to the link below. www.cpf.gov.sg/service/article/how-is-the-withdrawable-amount-computed#:~:text=The%20additional%20withdrawable%20savings%20from,you%20can%20withdraw%20from%2055. Hope this helps, cheers! - Alvin, Client Adviser

[@reubenlim963]

hello, regarding the standard plan, if pass on after 65. AP balance will be paid to my beneficiaries. Does the AP balance refer to the RA balance + interest (from 55 to 65) - used premium (after 65)? or does the AP balance refer to RA balance (at age 55) - used premium? thank you

[@ProvidendSG]

Dear @reubenlim963, thank you for taking the time to leave a comment with your question. AP balance is based on RA balance + any top ups + interest earned on RA between 55 to 65 less cumulative payout received to date. We hope this helps and for more information on CPF FAQs, you can visit this link: providend.com/frequently-asked-questions-about-cpf/ Have a wonderful rest of week ahead.

[@zYMz]

Can you give me the exact calculation for the basic sum of how you derive to the bequest amount for each year?

[@ProvidendSG]

Hi @zYMz, thank you for your question. The bequest amount shown was generated from CPF website few years back when the CPF LIFE estimator still showed the bequest amount. The projection for bequest amount has been removed in the subsequent revamp of the CPF LIFE estimator. Hope that clarifies, thank you. - Alvin, Client Adviser

[@far-red]

Good video, I recall an agent told me, get kids to pay monthly of 100, so u can stay on standard and they get better payout

[@ProvidendSG]

Thank you @far-red for your kind comments. :)

[@nancylim5221]

Hi @Providend I have a question. My friend is 69 years old. She joined CPF Life Receive payout every month. Now she still have funds in OA and SA account. Can she draw funds out from her SA to buy Singapore Savings Bond if she wants to invest? Thank you

[@ProvidendSG]

Hi @nancylim5221, thank you for asking your question on behalf of your friend. Assuming she has reached her cohort FRS in RA at age 55, she can freely withdraw funds from her SA and invest in SSB. However, the current SSB tranche offers a first-year interest rate of 2.95% and 10-year average return of 3.04%. She could leave her funds in SA now to enjoy at least 4% interest rate till end of the year. Her SA would be closed and transferred to OA early next year. By then, she can look at what are the rates in relatively safe instruments like SSB, T-bill, FD and decide to invest in them if the rates are better than the baseline OA 2.5% interest rate. Thank you and have a blessed day ahead!

[@nancylim5221]

@@ProvidendSG Thank you for helping to answer my queries! Greatly appreciated.

[@masher1042]

If we decide to withdraw only at 70. Do u know when is the latest we are required to inform CPF on the plan we want?

[@ProvidendSG]

Hi @masher1042, thank you for your question and patiently waiting for a reply. By default, CPF LIFE will only start pay-out at 70 years old if no instructions were given to CPF. If you would like the plan to pay out earlier than 70 years old, you can log in to CPF using this link to give your instructions: www.cpf.gov.sg/member/tools-and-services/forms-e-applications/plan-my-monthly-payouts Hope the above helps, thank you! - Alvin, Client Adviser

[@winstontoh6346]

Actually if you do a 'first principle' calculation on the way CPF computes the way the RA lump sum at age 65 is being drawndown, occuring over the months, and at the same time accumulating the monthly interest based on the lower monthly principal of that month, based on the monthly payouts that CPF pays for the Basic Plan, you will probably find that the RA lump sum will get you to about age 95 (for men) and age 97 (for women) before it depletes to zero value. How many of us will really get to age 95 or 97 when the average age we expire is about age 80 (for men) or 86 (for women). It would seem that the way CPF LIFE is being conceived is kind of conservative in its payments/computations.

[@angtenglai1097]

Hi Alvin. If u are age 70 now with $400k in cpf minimum sum scheme (not compulsory to join cpf life ), will you join cpf life at age 70 or 79 (80 cannot join cpf life). Pse share your thoughts and the reasons. TIA.

[@ProvidendSG]

Hi @angtenglai1097, thank you for your question. The mechanics of CPF LIFE is that if you were to join at an earlier age, you will receive a comparatively higher monthly CPF LIFE payout than if you were to join at a later age due to a longer participation tenure in the Life Fund. Having said that, staying on RSS would give you the highest payout until age 90 based on a balance of $400k. However, once your RA is exhausted, payouts will cease and you will need to fall back on other sources of income. At Providend, we are mindful that each of our clients have unique circumstances which could affect the recommendation such as their current lifestyle and expenses, other sources of income during retirement, concerns of longevity risks, etc. We would advise that you speak with a trusted adviser who can better advise you based on your situation. Thank you and I wish you a blessed new year ahead! - Alvin, Client Adviser

[@lsfoo3588]

The interest given in the OA cannot be withdrawn but just go into the pool to form part of the cpf life payout , right ? Is it better to buy other annuity plan instead and not opt for cpf life ?

[@ProvidendSG]

Hi @lsfoo3588, thank you for your question. The interest in OA (Ordinary Account) will be retained in the Ordinary Account and the account balance in your OA can be withdrawn at any point of time if you have already set aside the Full Retirement Sum (FRS) in your Retirement Account (RA) at the age of 55. The fund in your Retirement Account (RA) is the one that will be used as an annuity premium to buy into CPF LIFE. Yes, the interest given on RA cannot be withdrawn as it will form part of your CPF LIFE payout. On whether it is better to buy other annuity plan to replace CPF LIFE, it really depends on what are your financial objectives. If you are looking for a stable lifelong income during your retirement, CPF LIFE will be able to give you a higher monthly income than most annuity products available in Singapore. Would recommend that you speak with a trusted financial adviser to help you in planning for this. Hope the above helps, I wish you a pleasant day ahead! - Alvin, Client Adviser

[@JanetLow-r1e]

I already signed CPF life standard few years ago , next year I will be 65 can I change my plan from standard to basic , plse advice

[@ProvidendSG]

Dear @JanetLow-r1e, thank you for your question, yes you can still request to change to Basic Plan with CPF board since your CPF LIFE pay-out has not started. You can refer to this link for more details : www.cpf.gov.sg/service/article/can-i-change-my-plan-type-after-i-have-joined-cpf-life Here's wishing you a Merry Christmas & joyous new year ahead! - Alvin, Client Adviser

[@JanetLow-r1e]

Thanks for your advice , Merry Christmas and Happy New Year 2025

[@ProvidendSG]

@@JanetLow-r1e Same to you and have a restful holiday!

[@AndrewOng-nf5xj]

For standard plan, does it mean that once start to draw down, there will be no interest paid on the balance because the full amount in the retirement account is used to buy annuity. Whereas for basic plan, 90% of the retirement sum is left in cpf and continue to earn interest, thus the largest bequest.

[@ProvidendSG]

Hi @AndrewOng-nf5xj, thank you for your question. The monies used to join either the Standard or Basic plan will continue to earn interest. Otherwise, there would be no way it could sustain the payouts over such a long period of time. The main difference is that 100% of your RA balance is pooled into the Life Fund for the Standard plan, so any interest earned is used to fund payouts for everyone in the pool and will not form part of the member's bequest. Whereas, for the Basic plan, only 10% is pooled, and 90% remains in the RA. The interest earned in the RA remains in the RA and thus is paid out as part of the bequest when a member passes away. We hope this clarifies and have a good day ahead! - Alvin, Client Adviser

[@AndrewOng-nf5xj]

Thanks, Alvin. Interest earned and stay in the common pool means the cpf member will not directly benefit from it even though the member has a substantial amount to draw down 😂 I think i can now better appreciate why the basic plan makes more sense so long as the member need not solely rely on cpf life pay out to sustain its living.

[@ProvidendSG]

@@AndrewOng-nf5xj Thank you for taking the time to read our reply and have a wonderful week ahead!

[@sgedit-r]

Thank you for the informative video

[@ProvidendSG]

Thank you @sgedit-r for taking the time to leave a comment to encourage us. Have a wonderful day ahead!

[@seebaiheng8549]

Why cpf board didn't brief us on this scheme. This is withholding information

[@bigno1900]

what plan should i choose if i want to leave the least amount to the AP ?

[@ProvidendSG]

Hi @bigno1900, thank you for your question. Between the Basic & Standard Plan, the Basic Plan will have lesser amount going from your Retirement Account to form the AP. Hope this helps. - Alvin, Client Adviser

[@hyr1972]

Since the govt can change the cpf policy immediately effective from 2025 without consulting the public with the latest Feb16 budget 2024, just go for basic plan & BRS. Less payout but more $ in your own pocket. Manage ur $ wisely and enjoy your retirement. We are old enough. No need Gov to lock up all our monies till 65 and then give us monthly allowances where the amount can change and go down if cpf life is not sustainable.

[@ProvidendSG]

Thank you for taking the time to leave a comment!

[@ritawong4279]

😂

[@feudallordcult]

I also feel the same way: a bird in hand is worth 2 in the bush

[@xxxcool2565]

When you say total CPF : $200k is total of all 3 OA, MA and SA or just OA and SA? I thought MA is not calculated as part of the min sum?

[@sunsetbay154]

1:08 listen again~ he did say what the 200k comprises of~

[@trd7538]

Question: The property BRS mean when we death the property will belong government?

[@ProvidendSG]

Hi @trd7538, thank you for your question. CPF was set up to ensure retirement adequacy for Singaporeans & PRs and CPF LIFE payout gives us a very basic retirement lifestyle. When we pledge our property, we are essentially saying that we have a roof over our head and do not need as high monthly payouts from CPF LIFE to cover for rental costs. Hence, CPF allows us to keep only BRS in our RA and withdraw anything above that. In the event that you were to sell off the pledged property, the proceeds of the sales will go back to your RA to ensure you have a higher monthly pay-out at retirement. The property ownership does not go to the government when you put a charge on the property for CPF withdrawal, whether upon death or alive. You can read up more here : www.cpf.gov.sg/member/faq/home-ownership/housing-scheme/i-may-either-be-selling-my-whole-property-transferring-or#:~:text=If%20you%20are%20selling%20your,top%20of%20the%20P%2BI. Hope the above helps, cheers! - Alvin, Client Adviser

[@JaWs738]

What if you die within 55 and 65 yes old and you got ERS ? Or if you can live till 110yrs old ? May I know when is the most profitable time to die ?

[@ProvidendSG]

Hi @JaWs738, Thank you for your question. If a CPF member were to die between 55 and 65, even if they had set aside the prevailing Enhanced Retirement Sum (ERS) in their Retirement Account, they would not yet have been enrolled in CPF LIFE which happens at 65 at the earliest. Therefore, their beneficiaries/nominees would receive the balances of their Ordinary, Medisave and Retirement Accounts in cash (including interest earned after 55). (Note: their Special Account would have been closed at age 55, with any balance being transferred to their Ordinary Account under the new rule announced at the beginning of 2024). You can also refer to our Frequently Asked Questions About CPF here: providend.com/frequently-asked-questions-about-cpf/ I hope this helps. - Bryan, Senior Solutions Specialist

[@ProvidendSG]

Hi @JaWs738, We noticed you added more to your question and I really hope you are doing okay. We would not recommend trying to maximise CPF pay-outs to one's beneficiaries based on when one is presumed to die. After all, our CPF money is meant first and foremost to provide for our own housing, medical and retirement needs. And death is not something that we ordinarily have the power to accurately predict or control. CPF LIFE being an annuity scheme is also designed to mitigate the risk of living too long and running out of money, not maximise returns. There are a number of moving parts when estimating the eventual bequest to a member's beneficiaries, including their current CPF balances, what CPF LIFE plan they choose, when they start taking their pay-outs and when they actually pass away, among others. So, it is hard to say for certain here in the comments. That said, for bequests, as long as a member has not yet been enrolled in CPF LIFE, their beneficiaries will receive their full CPF account balances, so the longer they live the more time their balances will have to receive interest, grow and compound. Once enrolled in CPF LIFE, however, they will start to receive monthly cash payments, but the amount that is committed to CPF LIFE as the annuity premium will no longer accrue interest to their Retirement account balance. Their beneficiaries will receive their Retirement account balance, and the balance of their annuity premium (less whatever has already been paid out) when they pass away. So, this bequest amount decreases over time from that point, and rightly so as the money is being paid out. If we consider the total cash payments from CPF LIFE as well, that decrease is mitigated significantly, and after a certain point (between 80 and 90 years old), the total cash received will eventually exceed the amounts put into CPF LIFE and will continue to rise for as long as they live. I hope this helps and please take care. - Bryan, Senior Solutions Specialist

[@yooong]

"May I know when is the most profitable time to die?" - This is seriously one of the coolest questions I've come across.

[@choopohtin280]

Thank 👍👍👍💖

[@ProvidendSG]

Once again, thank you!

[@ommanipadmehum5268]

In essence, if you think u will die early, choose BASIC plan. if you think u will live long, choose STANDARD plan

[@purpletulip1688]

How can I go from standard plan to basic plan now? Every year I am contributing 8k to RA to get the tax relief too. Please tell me how to move to basic plan?

[@ProvidendSG]

Hi @purpletulip6499, thank you for your question. You will be given the option to choose between the 3 plans (Standard, Basic & Escalating) just before you turn 65 years old, which is the age that you will be eligible to start receiving CPF LIFE payout. Hope this helps!

[@opheliasoh9358]

If we choose the basic plan, would the balance in RA be flowed back to OA for our withdrawal?

[@ken2633]

@@opheliasoh9358 RA won't flow to OA. Under Basic Plan, about 10+% will go to Annuity Premium and remainder will be use for your monthly payout. That's my current understanding.

[@马力曹]

very good!

[@ProvidendSG]

Thank you!

[@nancylim5221]

HI Victor I have a question. I understand Interest earned on CPF life is pooled together and will not paid to beneficiary when a member dies. How about interest in OA after a member meet the FRS in RA. The balance funds in OA, the interest will it pay to beneficiary when a member pass on? I guess Medisave Account is not included in CPF LIFE so definitely the interest is pay to beneficiary? Am I right? Thank you

[@ProvidendSG]

Dear @nancylim5221, thank you for taking the time to leave a question. When a member passes on, everything in his/her OA, SA, MA and RA (including interest earned in those accounts) will be distributed to his/her beneficiaries. In addition, any unused CPF LIFE premium will be distributed as well. Hope this answers your question and have a lovely evening ahead.

[@nancylim5221]

@@ProvidendSG Thank you for your reply! Much appreciated.

[@chengboonpoon879]

well say Thank you

[@ProvidendSG]

Thank you very much for your kind comments and have a blessed week ahead!

[@JT-es3bd]

16:35 pls lah... RA + Interest = AP already ... you still expect CPF to give u interest for AP? So, the payout upon death is the same from Basic and Standard, RA + Int... our Gov not stupid one hor.

[@ProvidendSG]

Dear @JT-es3bd, thank you for taking the time to leave a comment. As Standard and Basic plan is designed to meet different needs of members, how the interest is earned and credited for the AP and the payout amount upon death is computed is different too. The Standard plan is designed to provide a higher level of payout for life. To sustain this, 100% of the AP is used to join CPF LIFE. The AP continues to earn interest even after 65 years old, but this interest is credited to the Life Fund to be shared with everyone on the scheme. Upon death of member, any bequest amount would be based on AP less sum total of payouts already received. If the sum total of payouts is more than AP, there will be no bequest. For the Basic plan because it is designed with greater focus on bequest than payout level, only 10% of the RA+Int is used to join CPF LIFE. The balance of 90% remains in RA and will continue to earn interest in its own account. Upon death of member, whatever is left in the RA + 10% AP will be distributed to their loved ones. As such the payout upon death will not be the same between the two plans. This shows us how important it is to understand the purpose of each plan, whether it’s for providing more during retirement or for leaving a legacy for loved ones. Both options have their strengths, and choosing the one that aligns with your goals is key. We hope this information helps and thank you for watching our video. Have a wonderful New Year ahead!

[@whis5448]

Interest ganna makan-ed for standard plan. I will only leave the min to garmen, no point leaving more as I will have no control, scully garmen anyhow cut my monthly payout, complain to MP also no use liao.

[@ProvidendSG]

Hi @whis5448, thank you for your comment. Yes, it’s true that if you choose the Standard plan, the interest will be retained in the Life Fund to ensure that there will be lifelong pay-out for every CPF members, even for those that have a longer life expectancy. There is also the policy risk where payout may be affected (e.g. delay of pay-out age from 62 to 65 when CPF LIFE replaced the old Retirement Sum scheme to offer lifelong payout to CPF members). Just like most things in life, it’s always about finding the right balance that works best for you. I wish you all the best and thank you for watching our video! - Alvin, Client Adviser

[@umeshutan6959]

My insurance agent also told me the same story....

[@eslink07]

Very confusing about the sum and timeline

[@ProvidendSG]

Thank you for taking time to leave your feedback!

[@flowertowerrr]

How does enhanced plan work?

[@ProvidendSG]

Hi @flowertowerrr, thank you for your question. I’m assuming you are referring to the Enhanced Retirement Sum (ERS) . At 55 years old, CPF will by default use money in your OA & SA to form the RA up to the Full Retirement Sum (FRS). However, you can choose to top-up your RA to raise the level from FRS to ERS. ERS is the max amount you can contribute into your RA and in turn you will receive a higher monthly payout from 65 years old compared to if you were on FRS. Hope this helps. - Alvin, Client Adviser

[@channie8912]

Is the payout of $780 / $800 used in your illustration arbitrary or the actual projected? i thought the CPF life calculator shows at least $1400 for the standard plan 😮

[@ProvidendSG]

Hi @channie8912, thank you for your question. All the payout figures are estimation using the CPF LIFE Estimator when the presentation slides were prepared with: www.cpf.gov.sg/eSvc/Web/Schemes/LifeEstimator/LifeEstimator The estimated payout amount depends on several factors as given in this CPF LIFE FAQ: www.cpf.gov.sg/member/faq/retirement-income/monthly-payouts/how-are-the-cpf-life-premium-and-payout-for-each-plan-calculated Some of these factors (like CPF interest rates and mortality rates) can change from time to time, therefore the estimated payout amount used in the presentation can be different from the figure you know. Do take note that the payout shown in the presentation was based on BRS ($99,400), whereas your $1,400 figure is probably based on FRS ($198,800). Hope this helps. - Alvin, Client Adviser

[@johnlim6900]

Where is the INFLATION CALCULATOR IN ALL THESE ASSUMPTIONS/ PREDICTIONS? ALWAYS SO LINEAE IN SUCH PRESENTATION

[@chungluwu9064]

A person born 1953 the minimum retirement needed this year(2023) Ànd the amount under CPF life pay every month.

[@KelvT1]

you are using our money to pay us back and we only could get your payment back provided we can live long enough until 90 years old. I don't get any Suprise after living long enough until age of 90 and after. What is the purpose of buying your plan? Unless we need to plan the payout lum sum upon death for our next of keen. I think this is not a good plan.

[@ProvidendSG]

Thank you for taking the time to write this comment, @KelvT1!

[@jjs1168]

Informative but simple thing made gratuitously lengthy and complicated lor

[@ProvidendSG]

Thank you for taking time to leave your feedback!

[@chengboonpoon879]

@2157 the display of PAYOUT ERR

[@YEWLEONGWONG]

at age 65 before monthly annuity payment

[@edwardlumsianming3430]

Most people do not like about cpf life because it is at 65 . Now people want to live for the present and enjoy and things that is tangible.😢. The world is now very uncertain.

[@mccaboy]

And then blame gov for ppl not thinking long term

[@ken2633]

Its a case of Grief now Spend later or Spend now Grief later.

[@aliabdulkader3465]

In cpf life at 65 you are still strong can travel can enjoy pay you little monthly as yo get old😅er use walking stick or use pmd useless cannot enjoy cannot travel they pay you more monthly.

[@ktleong7116]

How is the payout value derived? This is never transparent. CPF decide the value they want to give.

[@ProvidendSG]

Hi @ktleong7116, thank you for your question. You may refer to this CPF LIFE FAQ: www.cpf.gov.sg/member/faq/retirement-income/monthly-payouts/how-are-the-cpf-life-premium-and-payout-for-each-plan-calculated The payout amount is determined by factors such as RA savings, gender, age, CPF interest rates and mortality rates. Hope this helps. - Alvin, Client Adviser

[@obekmaman]

Once u strike toto 1st price. Forget cpf. 😅

[@ProvidendSG]

Hi @obekmaman, thank you for taking the time to comment. While hitting the Toto first prize is undoubtedly life-changing, CPF plays a crucial role in ensuring long-term financial stability, particularly for retirement and healthcare needs-especially given the low probability of striking the lottery. At Providend, rather than focusing on “maximising returns” in a statistically losing game, we prioritise helping clients achieve sufficient returns to comfortably and reliably meet their non-negotiable life goals and milestones, often incorporating CPF as part of a holistic wealth plan. Thank you for reading our reply, and have a great day ahead! - Alvin, Client Adviser

[@angbeeleng6437]

3:24

[@choymaymay]

Correction, it’s hundred thousand and six hundred

[@edwardlumsianming3430]

I am past 55, the minimum sum increases over time, if this continues my nephew when he is 55 minimum sum is close to 450,000😢😢😢😢😢😢😢😢😢😢😢😢

[@EverEver-uj9tl]

How can I withdraw all my CPF at age 55. I don't want to stay in Singapore.Could you advise me to take out all my CPF and leave the country 😊

[@lewisliew6479]

you can give up SG citizenship and get another country citizenship, then u can draw all money in CPF

[@ProvidendSG]

Hi @EverEver-uj9tl, thank you for your question. You may close your CPF account and withdraw all your CPF money upon renunciation of your Citizenship or Permanent Residency. You can refer to this webpage for more details: www.cpf.gov.sg/member/account-services/account-closure/closing-your-account-when-you-leave-singapore Hope this helps. - Alvin, Client Adviser

[@adriankt]

You need to create a new content base on pay and pay new sucks scheme

[@ProvidendSG]

Thank you for taking time to leave a comment!

[@fynnneo4536]

any senario for SgPR that going retire in west Malaysia. Can they still retain cpf for cpf life?

[@vin99a99]

Remain PR then will have CPF life. If Cancel PR then no more CPF life for them. Upon cancel PR they can take all the CPF including Medisave. Go invest into safe and diversify share and bond portfolio then pray the investment dun fall during the first 10 years of your retirement life. then when you need the money for daily use sell the portfolio using the 4% annual withdrawal rule

[@fynnneo4536]

@@vin99a99 my worry is when turn in 55yo or 65yo then i wish go back west malaysia for retirement or break of work, heard if 2/5 years not working in SG will terminate PR entry permit then need withdraw PR. so, how can someone who wanna retire in malaysia but retain PR if he is single and no property in SG.

[@ProvidendSG]

Hi @fynnneo4536, thank you for your question. You will need to hold a valid Re-Entry Permit (REP) to retain your Singapore PR status when you retire in Malaysia. Please refer to ICA website for the details on REP Renewal: www.ica.gov.sg/reside/PR/apply-REP According to the ICA website on PR Eligbility: www.ica.gov.sg/reside/PR/apply ICA will consider various factors to assess the applicant's contribution and commitment to Singapore. If you are single, not working when you retire, and no property (investment) in Singapore, it is at ICA's discretion whether to grant you REP when you apply for renewal. Should ICA reject your application then, you can try to appeal based on past contribution and hope that they take that into consideration. As a contingency, do have an alternate retirement plan without CPF LIFE in case you lose your PR status. Hope this helps. - Alvin, Client Adviser

[@mm-et7dx]

Any amount receive after 80 yrs old is 'meaningless'. Just give our money back when it matters the most.

[@OswaldOtto-i6r]

Government will keep changing policy... Look at education policy.. Keep on changing... In the end, you do not know what is going on

[@ProvidendSG]

Dear @OswaldOtto-i6r, Thank you for sharing your thoughts and taking the time to comment. It’s true that policies can evolve over time and we acknowledge that these changes are often made to adapt to new circumstances and challenges. That said, it’s important to stay informed and plan within the current framework to make the most of what’s available today, in order to navigate these changes more effectively and ensure we remain on track. We hope our video provides some clarity, but do let us know if you have further questions. To receive firsthand wealth insights from our team of experts, we invite you to subscribe to our weekly newsletter: providend.com/#newsletter-subscribe Have a wonderful new year ahead!

[@ginger2374]

CPF Life annuity payout is biased against women. If a woman gets between $100 to $200 less than a man per month, the difference will add up to between $1200 to $2400 per year. If she lives to 85 (which most men do) she would have received between $24000 to $48000 less than a man in 20 years. Based on the same premium paid, this is grossly unfair and definitely no equality at all. Could this very important equality issue be looked into? And may the treatment of elderly women be equal to elderly men. As most of the elderly women have already been subjected to much inequality in their lifetime, I hope it’s not too much to ask for these ladies to be treated fairly in their golden years.

[@biaofo5258]

why a woman gets between $100 to $200 less than a man per month? where does this rationale come from? How much you get depend on your RA account, which also depends on how much you willing to leave untouched at age 55 and what is your earning capability during your working life contributing to CPF.

[@jeromelim9237]

It is premised on statistics. The actuary cannot go against data. For the difference to be made good, there needs to be policy intervention (or men and women have no differences in mortality rates). And the monies have to be funded from somewhere.

[@biaofo5258]

If the reason contributing to the data and fact are because of wage inequality between men and women, the policy should be on the wages. Once it's solved, the cpf problem per se will be solved. Solve the root cause is what I want to say

[@flowertowerrr]

Wow poor women. Living longer than men and want more money? Want to trade life for money?

[@neobeng]

There is no gender bias in the actual statistics. Pple can discriminate. But numbers and facts does not.

[@edwardlumsianming3430]

The thing is CPF is A VERY BLUNT TOOL TO FORCE SAVE FoR THE FUTURE. provided the person is healthy at that age to enjoy😢

[@zenisfun]

CPF Life is a scam by using the life span. How many can really live beyond 85. And even can is theee quality of life or in the hospital with all the tubes

[@ProvidendSG]

Thank you for taking the time to leave a comment!

[@kxkkxx]

Then what other options do you know of with similar payouts and tenor?

[@canzozo]

Can u stop making the noise when u talk?

[@ProvidendSG]

Hi @canzozo, thank you for taking the time to comment to leave a feedback. May we ask which part of the video in particular? So we can take note for future recordings, thank you and hope you are having a good day so far! - Providend Brand Team