- Reaching 55 ...Planning Your Golden Years   Minimum Sum Scheme   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.   If you remain on the Minimum Sum Scheme, these are the three options for your Minimum Sum:   1. Leave it with the CPF Board.   The Minimum Sum left with the CPF Board currently earns 4% interest per annum. The interest rate is revised yearly. You may apply to receive a monthly income from your  Draw-Down Age until your Minimum Sum is exhausted. Alternatively, you may wish to start your monthly payouts later. It benefits you as your payouts will last longer.     Click here to have an indication of the monthly income you might get.     2. Buy a life annuity from a participating insurance company.   If you buy a life annuity, you will get a monthly income for life. You can use your Retirement Account balance to buy an annuity. Approach the participating insurance company with your latest Statement of Retirement Account to buy a life annuity.     3. Keep it with a participating bank.   You can keep your Minimum Sum with a participating bank and earn a fixed interest. The bank will then pay you a monthly income until your Minimum Sum is exhausted. Participating Insurance Company Insurance Company Tel No Website NTUC Income Insurance Co-operative Ltd 6788-1111 http://www.income.com.sg   Click here to see the annuity payout offered by the participating insurance company. Participating Banks Currently, there are no participating banks. Exemption From The Minimum Sum You may apply for exemption from the Minimum Sum Scheme if you have bought your own life annuity using cash. The monthly payment you receive from the life annuity should be equal or above the Minimum Sum monthly payment. The same applies to pensioners receiving a monthly pension equal or above the Minimum Sum monthly payment. To apply for exemption, just submit a copy of the annuity policy or recent letter issued by the Pension Office of the Accountant-General’s Department certifying the monthly pension amount. You may wish to visit the Pensioner’s Portal for more information. Minimum Sum Plus Scheme (MSPS) Under MSPS, if you are 55 and above from 1 January 2001, you can buy life annuities beyond your Minimum Sum with your withdrawable CPF savings. The monthly income from these annuities is accorded tax exemption. Back to the top

How much can I withdraw? How much is the Minimum Sum? What can I do with the Minimum Sum? CPF LIFE Medisave Minimum Sum What if I continue working after 55? What about my housing loan? What about my investments? What happens if I divorce? What happens if I am a bankrupt?  What if I am a pensioner?  When I am no longer around Moving forward