Taking care of your loved ones

Did you start retirement planning early and are now ready to achieve your dream of a financially secure future? How about your loved ones? While it’s important to ensure that your personal financial goals have been met, it’s equally important that your loved ones have sufficient savings through their golden years. Let’s see how a couple, Bala helps his wife, Shanti, to have more savings for retirement.

Payouts are estimates based on CPF LIFE Standard Plan computed as of 2017

For members like Shanti who do not have at least $60,000 in their RA at the payout eligibility age, they will receive their monthly payouts from their RA until it is exhausted. However, she can choose to join CPF LIFE using the savings from her RA anytime before turning 80 years old.

With Bala transferring part of his RA savings to Shanti, both of them will be placed under CPF LIFE and can expect to receive a lifelong stream of monthly income from their payout eligibility age.




CPF LIFE provides members with monthly payouts for as long as they live. CPF members with at least $60,000 in their Retirement Account (RA) at their payout eligibility age are automatically placed on CPF LIFE*. You can help your spouse or loved ones grow their retirement savings by topping up to their CPF Account. The above illustration shows how you can help your spouse or loved ones who do not have at least $60,000 in their RA, to enjoy their own stream of lifelong income during retirement. Members have the flexibility to transfer their CPF savings to their spouse’s CPF account if their net CPF balances[ii] and net amounts withdrawn for investments[iii] exceed the current Basic Retirement Sum (BRS) (if you are below 55 years old) or the BRS applicable to them (if you are 55 years old and above). You may also transfer CPF savings above the Full Retirement Sum (FRS) to your loved ones’ CPF account.


You can refer to this table for more details on the criteria on cash top-ups or CPF Transfers:

#Excludes interest earned since 55 years old, any Government grants and monies withdrawn.

In a recent interview with The Sunday Times, Programming Lecturer Mr Teh Ah Hock, and his wife, Mrs Julia, both 57, shared how they have benefitted from making CPF top-ups with cash. Mr Teh topped up to his wife’s Retirement Account (RA) twice since he turned 55. He finds it difficult to beat the RA annual returns of up to 6%[iv] interest per year and that CPF LIFE allows him to have payouts for life. Mr Teh and his wife feel that CPF top-ups are key to their retirement planning and make them more disciplined in saving.

To enjoy a financially secure future just like the couples, Bala & Shanti or Mr & Mrs Teh, click here to make a cash top-up or CPF transfer today.



*Members will be placed on CPF LIFE if they are a Singapore Citizen or Permanent Resident born in 1958 or after, and have at least $60,000 in their Retirement Account six months before reaching their payout eligibility age.
i Loved ones refer to siblings, parents, parents-in-laws, grandparents and grandparents-in-laws
ii Net CPF balances refer to Ordinary and Special Account savings, if you are below age 55. If you are 55 and above, net CPF balances refer to Ordinary, Special and Retirement Account savings.
iii Refers to net amounts withdrawn for (i) an active investment account under the CPF Investment Scheme (CPFIS)-OA, and (ii) investments under the CPFIS-SA and discounted Singtel shares that have not been completely disposed of.
iv Currently, CPF savings in the Ordinary Account earn interest rates of up to 3.5% per year, while savings in the Special, Medisave, Retirement Accounts and the annuity premiums earn interest rates of up to 5% per year. These interest rates include an extra 1% interest paid on the first $60,000 of the combined balances (with up to $20,000 from the Ordinary Account). Since January 2016, CPF members aged 55 and above will earn an additional 1% extra interest on the first $30,000 of their combined balances (with up to $20,000 from the Ordinary Account). This is paid over and above the current 1% extra interest that is earned on the first $60,000 of their combined balances. As a result, CPF members aged 55 and above will earn up to 6% interest per year on their retirement balances.