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What is CPF LIFE?

The CPF Lifelong Income For The Elderly (CPF LIFE) Scheme provides Singapore Citizens and Permanent Residents with a monthly payout for as long as you live.


Why do you need CPF LIFE?

People are living longer. While this is a good thing, it means that you need to save for a longer retirement or you may end up outliving your savings. Having an income for as long as you live has therefore become even more important.

With CPF LIFE, you will get a lifelong monthly payout starting from your payout eligibility age (previously known as the drawdown age), which is currently at age 65.

Who is CPF LIFE for?

You will be placed on CPF LIFE if you are a Singapore Citizen or Permanent Resident and have the following Retirement Account balances:

You turn 55 before 1 January 2016 You turn 55 on 1 January 2016 or after
  1. $40,000 in your Retirement Account when you reach 55 years old; or;

  2. $60,000 in your Retirement Account when you reach your payout eligibility age.
  1. $60,000 in your Retirement Account when you reach your payout eligibility age.

You can still choose to join CPF LIFE even if you are not placed on it.

Who is CPF LIFE for?


What are the CPF LIFE Plans available?

There are two CPF LIFE Plans for you to choose from – the LIFE Standard Plan and the LIFE Basic Plan. The plans differ on the:

  • monthly payout you would receive; and
  • the amount you would bequest to your beneficiaries.

What are the CPF LIFE plans available?

How does CPF LIFE work?

At 55 years old, we will create your Retirement Account and transfer some of your CPF savings from your Special and/or Ordinary Accounts into this account to form your retirement sum.

Your retirement sum will be used to buy a CPF LIFE annuity to receive lifelong monthly payouts from your payout eligibility age, which is currently at age 65.

Depending on your desired CPF LIFE monthly payout and your CPF balances, you can choose from a range of payout options that best suit your needs in retirement.

  Your monthly payout* for life from 65 Retirement Account savings required at 55
If you own a property and choose to pledge your property. $660 - $720 Basic Retirement Sum (BRS)
If you do not own a property or choose not to pledge your property. $1,220 - $1,320 Full Retirement Sum (FRS)
The FRS is 2 x BRS.
If you wish to put more savings in CPF LIFE. $1,770 - $1,920 Enhanced Retirement Sum (ERS)#
The ERS is 3 x BRS.

*Payouts are estimates based on CPF LIFE Standard Plan parameters in 2016.
#Available from January 2016

When do I choose my CPF LIFE plan?

For members turning 55 before 1 July 2015, we will send you a letter to choose your CPF LIFE plan one month after your 55th birthday. You have six months to choose your plan. If you do not choose a plan, we will place you on the CPF LIFE Standard Plan.

From January 2016, members will only need to choose their CPF LIFE plan from their payout eligibility age at the point when they wish to start their CPF LIFE payouts.

In view of this upcoming change, members who are turning 55 from 1 July 2015 to 31 December 2015 would also have the option to choose their CPF LIFE plan at the point when they wish to start their CPF LIFE payouts, from their payout eligibility age. We will write to you nearer to your payout eligibility age to further explain the options you have and the choices you have to make.  

Choose the plan that best meets your retirement needs. Each LIFE plan provides a different combination of trade-offs between the amount of monthly payout that you would receive and the bequest that you would leave for your beneficiaries.

While stable, the monthly payouts are not fixed. The payout amount will be reviewed annually and we may adjust your payout due to changes in mortality experience, interest rate and transactions which affect your Retirement Account balance. This will ensure that the CPF LIFE annuity fund is sustainable in the long run.

We will notify you two to three months before we make any adjustments to your monthly payout.

How can I increase my payouts?

If you would like to receive higher payouts, you can make cash or CPF top-ups (or both) into your Retirement Account if you have not reached your topping-up limit. From January 2016, you can top up to the Enhanced Retirement Sum (a sum set at three times the Basic Retirement Sum) to enjoy a higher monthly payout.

With the additional top-up to your Retirement Account, you can buy an extra CPF LIFE annuity to get a higher CPF LIFE payout.

The monthly payouts from CPF LIFE will be paid straight into your bank account by Inter-Bank GIRO (IBG) by the 4th working day of each month.

If the IBG is unsuccessful because you have closed your bank account, we will pay the payouts into your Ordinary Account.

From January 2016, you have the option to start your CPF LIFE payouts later, up to age 70. For each year deferred, your monthly CPF LIFE payouts permanently increase by about 6% - 7%.

How does the bequest work?

A bequest is the money that you leave to your beneficiaries after your death.

Under the CPF LIFE plans, we will refund all your unused annuity premium and Retirement Account savings, if any, after your death.

We will pay any refund into your CPF account. This will then be paid to your beneficiaries along with your remaining CPF savings.

Can I leave CPF LIFE after I have joined?

Once you have joined CPF LIFE, you can only leave the scheme for the following reasons:

  • You have a medical condition which causes you:

    - to be permanently unfit for any employment;
    - to have a severely reduced life expectancy; or
    - to be terminally ill.
  • You are about to leave, or have left Singapore and West Malaysia permanently with no intention of returning for work or to live.
  • You are a Malaysian citizen and have left Singapore permanently to live in West Malaysia.

Upon exiting the scheme, you will receive a refund of the savings used to join CPF LIFE. The refund is your unused annuity premium.

Like other annuity products, there may not be any refund if we have already paid out all your savings used to join CPF LIFE in the monthly payouts.

In addition, if you are receiving a monthly pension or payout under a personal annuity, you may apply to the CPF Board to be exempted from setting aside the retirement sum in your Retirement Account.

For more information on the refund and the exemption from CPF LIFE or the Retirement Sum Scheme, please email us at member@cpf.gov.sg.

What is the CPF LIFE Bonus?

The CPF LIFE Bonus is a bonus provided by the Government to encourage and help you join CPF LIFE.

To be eligible for the CPF LIFE Bonus, you need to:

  • Be a Singapore Citizen;
  • Be born between 1958 and 1962; and
  • Have been placed on CPF LIFE; or
  • Have informed us before your 56th birthday on your decision to join CPF LIFE.

The amount of CPF LIFE Bonus that you can receive depends on your Annual Assessable Income (AI) and the Annual Value (AV) of your home. It will be credited into your Retirement Account if you  are a Singapore Citizen with at least $20,000 in your Retirement Account.

If you have less than $20,000 in your Retirement Account, your CPF LIFE Bonus will be reduced in proportion to the amount you joined CPF LIFE with.

Your AI is based on the assessment year before the year that we issue your CPF LIFE plan. For example, if we issue your CPF LIFE plan in 2015, we will use your AI for assessment year 2014 (that is, your income for 2013).

The AV we use to decide whether you are eligible for CPF LIFE Bonus is based on the AV of the property stated as your NRIC address as at 31 December before the year we issue your CPF LIFE plan. For example, if we issue your CPF LIFE plan in 2015, we will use the 2014 AV of the property stated in your NRIC as of 31 December 2014.


How do I apply to join CPF LIFE?

Online using my cpf

  1. Login with your SingPass.
  2. Submit an online application via My Requests.

In-Person at CPF Service Centres

  1. Download and fill up Form LID-APP(1): Application for CPF LIFE.
  2. Bring your NRIC and go to any CPF Service Centre.


  1. Download and fill up FORM LID-APP(1): Application for CPF LIFE.
  2. Mail it to:
    CPF Board
    Lifelong Income Department (LID)
    79 Robinson Road
    Singapore 068897

If you are already participating in CPF LIFE and would like to buy an extra CPF LIFE annuity with the additional top-up to your Retirement Account, you can download and fill up Form LID-APP(1A): Application for Additional Annuity under CPF LIFE and mail it to:

    CPF Board
    Lifelong Income Department (LID)
    79 Robinson Road
    Singapore 068897

You can refer to our service standards for more information.

For More Info

Email: member@cpf.gov.sg
Hotline: 1800-227-1188

Frequently Asked Questions

Read the Frequently Asked Questions (FAQs) on CPF LIFE

Useful Tools

Read the CPF Retirement Booklet for more CPF information when you reach 55 years old.

CPF LIFE Press Release


 Last Updated on: Thursday, May 21, 2015 at 5:29 PM
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