We cannot predict how long we'll live. Hence it’s not easy to decide how much we need for our retirement. Spend too much and you might not have enough. Save too much and you end up depriving yourself.
That's why we launched CPF LIFE. A scheme that provides you with monthly payouts no matter how long you live. With CPF LIFE, you can fully enjoy the savings you've built, with greater peace of mind.
The monthly payouts you’ll receive depends on how much retirement savings you have.
https://www.cpf.gov.sg/service/sub-categories?category=P_M_RI false Unlock the value of your propertyDid you know your property can be an additional source of retirement income?
Moving to a 3-room or smaller flat and receive a bonusIf you are moving to a 3-room or smaller flat, you can supplement your retirement income by topping up your CPF Retirement Account through the Silver Housing Bonus scheme to boost your CPF monthly payouts, and receive a cash bonus of up to $30,000.
https://go.gov.sg/hdb-shb false Ageing in place and monetise your housing propertyIf you own a HDB flat
You can sell part of your flat’s lease to HDB through the Lease Buyback Scheme, and use the proceeds to top up your CPF Retirement Account to boost your CPF monthly payouts in retirement, while continuing to live in your flat. You can also receive a cash bonus of up to $30,000.
If you own a private property
You can consider speaking with your financial institution or advisor on the available products in the market that allow you to monetise your private property to supplement your retirement income while ageing in place. As with all important financial decisions, please understand the nature of the product, and assess your risk tolerance and retirement needs before deciding if it is appropriate for you.
