How much will you be getting on CPF Life?

This question can be answered by referring to the CPF Statement for 2018. CPF members would be receiving their statements via the post or by eStatement if they have opted for it.

It tells me that I am on CPF Life Basic Plan. From age 65, I will receive an estimated payout of $1,662 – $1,807 per month based on my CPF Life policy. It is estimated for now and CPF Board will tell me my exact monthly payout nearer my payout eligibility age (at age 65 in my case).

The monthly payout amount is on the basis of Enhanced Retirement Sum, CPF Life Basic Plan, and I am a male.

From this amount, one can decide whether the monthly payout amount would be sufficient on retirement. Perhaps, one may look at other sources of payouts from Supplementary Retirement Scheme (SRS), investments and insurance annuity policies.

Copyright © 2019, limkimtong for Living Investment

The material presented is intended to be general and written in layman’s language as much as it is possible. The author shall not be liable for any direct or consequential loss arising from any use of material written. Please seek professional advice from your financial advisor or financial institutions on material written covering financial matters.

Advertisements
This entry was posted in Retirement Planning. Bookmark the permalink.