CPF LIFE (Lifelong Income For the Elderly) provides committed monthly disbursements to retirees who need the financial security of consistent income during retirement years. It takes the funds from an individual’s CPF Retirement Account (RA) and converts them into monthly disbursements that will last for the person’s entire lifetime (even for years after the retirement savings have run out). This initiative assists retirees who may run the risk of outliving their savings and provides assurance during the retirement years.
2025 CPF LIFE Eligibility
Singapore Citizens and Permanent Residents automatically receive CPF LIFE covers as long as they were born after 1958 and have at least $60,000 in their Retirement Account 6 months before they turn 65. Those born before 1958 or with less than S$60,000 in their RA at payout start can choose to join CPF LIFE voluntarily before they turn 80. Most non-citizens and non-residents can be excluded without being offered voucher programs.
CPF LIFE Plans and Monthly Payouts
- The retirement savings program offers three different CPF Life Plans to choose from Basic plan – offers lower monthly minimums which drop progressively with the option of bequeathing a non-cash payout still mounts to less than the remaining bequest.
- Standard plan – offers higher consistent monthly lifetime cash out payments.
- Escalating plan – estimated minimums during the life of the plan with 2% annual increases.
How much will be paid out monthly depends on how much savings is in the Retirement Account (RA) by 65 and the chosen plan. For 2025, the Standard Plan will roughly have the following ranges:
| Retirement Sum Level | RA Savings at 55 | Monthly Payout (starting at 65) |
|---|---|---|
| Basic Retirement Sum (BRS) | S$106,500 | S$840 – S$900 |
| Full Retirement Sum (FRS) | S$213,000 | S$1,590 – S$1,710 |
| Enhanced Retirement Sum (ERS) | S$426,000 | S$3,080 – S$3,310 |
Higher top-ups boost the payout amounts. In fact, some are receiving up to approximately S$3,300 every month.
How CPF LIFE Works
When a member turns 55 and holds a CPF account, savings from the Ordinary and Special accounts are combined and placed into the RA, which is allocated interest that accumulates up to 6% every year. All members will start receiving monthly payouts once they reach the payout age which is usually 65, and these payments will last every month for the rest of their life. Any payments that are left will be paid in a bequest to the deceased´s beneficiaries.
Signing Up and Important Considerations
Members that are automatically included will not have to apply but will be enrolled, and everyone else will be able to apply between the ages of 65 and 1 month to 80. All members will have 30 days to choose a plan after enrollment. Payments that are placed on hold, and resumed on the 70 are higher, thus most members will prefer these payouts. Members on the older Retirement Sum Scheme (RSS) can switch to CPF LIFE to receive better lifelong payouts.
FAQs
Q1: What’s the earliest I may receive CPF LIFE payouts?
A1: CPF LIFE payouts may begin between the ages of 65 and 70. Automatic members will receive a notice around age 65 to select a payout option.
Q2: What factors determine how much I get in my monthly payout?
A2: Your monthly payout will be determined based on the amount in your Retirement Account when your payouts begin along with the CPF LIFE plan you selected.
Q3: Can I change my plan after I have enrolled in CPF LIFE?
A3: You may change your plan only one time within 30 days of enrollment. After that, you cannot make any changes.
