Retirement payouts and CPF LIFE
RA savings fund monthly payouts through CPF LIFE or the Retirement Sum Scheme from the payout eligibility age, currently 65. A qualifying property lease to age 95 may support setting aside the Basic Retirement Sum instead of the Full Retirement Sum; top-ups to the Enhanced Retirement Sum can increase payouts. CPF LIFE pays for life. Deferring the start up to age 70 increases monthly payouts by approximately 7% per year, up to approximately 35%.
CPF LIFE membership
Automatic inclusion applies to citizens/PRs born in 1958 or later with at least S$60,000 retirement savings before age 65. Others remain on the Retirement Sum Scheme, which pays until savings are exhausted, but may opt into CPF LIFE between 65 and one month before 80. Amounts can be adjusted for long-term interest or longevity changes.
Healthcare and housing
MediSave may pay for eligible hospitalisation, some long-term care, outpatient chemotherapy/radiotherapy and premiums for MediShield/Life, approved integrated plans, ElderShield or CareShield Life. OA can fund HDB or private homes, down payments, housing loans, stamp/legal fees, private construction or land loans and HDB Home Protection Scheme premiums. A CPF charge arises on financed property: discharging it requires refund of CPF used plus accrued interest. Selling restores that amount to CPF. Property with a lease to 95 and CPF use including interest sufficient for the Full Retirement Sum may permit additional withdrawal; check current CPF conditions.
Protection and investment
Dependants’ Protection Scheme offers term-insurance support after permanent incapacity or death. Home Protection Scheme protects an HDB mortgage against death, terminal illness or total permanent disability, until age 65 or loan repayment if earlier. MOM describes CPFIS investment above S$20,000 in OA and S$40,000 in SA, in products including insurance, unit trusts, ETFs, deposits, bonds, treasury bills, shares, property funds and gold. SA investment descriptions must be read with the 2025 closure for members aged 55 and above; consult current CPF account and investment eligibility.
Official documents and references
- CPF Board account update ↗
- CPF website ↗ Government source
- CPF LIFE ↗ Government source
- MediSave ↗ Government source
- buy a home ↗ Government source
- Dependants’ Protection Scheme ↗ Government source
- Home Protection Scheme ↗ Government source
- invest your CPF funds ↗ Government source