For many Singaporeans, retirement is not just a time to rest it’s a milestone that marks the culmination of decades of hard work. With increased life expectancy and rising living costs, planning for financial stability in your golden years has never been more crucial.

Singapore’s Central Provident Fund (CPF) system plays a key role in this planning. At the heart of this is CPF LIFE a national annuity scheme that ensures lifelong monthly payouts once you reach retirement age. Here’s what you need to know to make the most of your CPF savings.

CPF LIFE at a Glance

Category	Details
Scheme Name	CPF LIFE (Lifelong Income For the Elderly)
Eligibility	Singapore Citizens/PRs, born in 1958 or later, with ≥ S$60,000 in Retirement Account (RA) by age 65
Start of Payouts	Age 65 (can defer up to age 70 for higher payouts)
Funding Source	Premiums deducted from CPF Retirement Account
Plan Types	1. Standard – Higher, stable payouts 2. Escalating – Payouts increase by 2% yearly 3. Basic – Lower payouts, higher bequest
Retirement Sums (2025)	BRS: S$106,500 → S$850–S$930 FRS: S$213,000 → S$1,610–S$1,730 ERS: S$426,000 → S$3,100–S$3,300
Customisation Options	Choose plan, top up RA, defer payout start age

What Is CPF LIFE?

CPF LIFE is a government-administered annuity scheme that provides lifelong monthly payouts starting at age 65. It is designed to help Singaporeans and PRs maintain financial independence well into old age.

When you join CPF LIFE, a one-time premium is deducted from your CPF Retirement Account. This amount is pooled to fund payouts for all members—ensuring continuous income, even after your personal savings are depleted.

Automatic enrolment occurs if you:

• Are a Singapore Citizen or PR
• Were born in 1958 or later
• Have at least S$60,000 in your Retirement Account by age 65

Understanding the Three CPF LIFE Plans

CPF LIFE gives you the flexibility to choose a plan that matches your retirement needs:

1. Standard Plan
   Offers higher and stable payouts throughout your life. Ideal for retirees who want reliable monthly income.
2. Escalating Plan
   Starts with lower payouts, increasing by 2% annually. Useful to keep pace with inflation and rising expenses.
3. Basic Plan
   Gives lower payouts but leaves more in your CPF for your beneficiaries. Suitable if you have other income sources.

Use the CPF LIFE Plan Comparison Tool to evaluate which is best for you.

How Much Will You Receive?

Your payout amount depends on:

• Your Retirement Account savings at age 65
• CPF LIFE plan chosen
• Gender and age

2025 Retirement Sums & Estimated Monthly Payouts (Standard Plan)

• Basic Retirement Sum (BRS): S$106,500 → S$850–S$930
• Full Retirement Sum (FRS): S$213,000 → S$1,610–S$1,730
• Enhanced Retirement Sum (ERS): S$426,000 → S$3,100–S$3,300

Use the CPF Payout Estimator to calculate based on your actual savings.

Boosting Your CPF LIFE Payouts

To maximise your CPF LIFE benefits:

• Top Up Your Retirement Account
  Transfer funds from your Ordinary Account or use cash top-ups.
• Defer Payouts
  Delay starting payouts to as late as age 70 for up to 7% higher payouts per deferred year.
• Aim for a Higher Retirement Sum
  Save more to qualify for FRS or ERS, resulting in significantly higher monthly income.

Useful CPF Tools for Retirement Planning

CPF offers free online tools to help Singaporeans make informed choices:

• Retirement Income Planner
  Estimate your income based on your current savings and lifestyle goals.
  Access the planner
• Monthly Payout Estimator
  Simulate potential payouts from different CPF LIFE plans.

Final Thoughts

Retirement planning may feel complex, but CPF LIFE provides a structured and sustainable way to secure your future. By choosing the right plan, topping up your savings, or deferring payouts, you can build a more comfortable and worry-free retirement.

Whether you’re just beginning to plan or approaching retirement age, make use of the CPF Board’s resources and consider consulting a financial advisor for tailored advice.