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Reaching 55 |
| ...Planning Your Golden Years |
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Depending on your year of birth, you:
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can apply to join CPF LIFE; |
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will automatically be included under CPF LIFE; or |
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may remain on the Minimum Sum Scheme |
| Birth Year |
What You Can Do
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| 1954 and earlier |
- You can apply to join CPF LIFE from September 2009, or
- You can remain on the Minimum Sum Scheme.
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| 1955 – 1957 |
- You can apply to join CPF LIFE when you reach 55 years old, or
- You can remain on the Minimum Sum Scheme.
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| 1958 and later |
- If you have at least $40,000 in your RA at 55, you will be automatically included under CPF LIFE
- If you have less than $40,000 in your RA at 55, you can apply to join CPF LIFE; otherwise you will be on the Minimum Sum Scheme.
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CPF LIFE will give you a monthly payout starting from your Draw Down Age, for life. It improves upon the current Minimum Sum Scheme where payouts only last about 20 years. |
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Last Updated on: Thursday, November 19, 2009 at 6:24 PM
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