CPF Account Value Thread 2026

[BBCWatcher]

Isn't this the same for the 3 plans? Beneficiaries will get the remaining money (total RA at payout - total payouts received while alive)

All payout plans guarantee payouts (to the member and to his/her nominees) that total to at least entry principal (your RA balance, plus accrued interest, just before payouts start). All payout plans also guarantee monthly income for life, however long it lasts.

The Basic Plan tries to cling to a larger residual longer compared to the Standard Plan — and that's just a natural consequence of a permanently lower monthly payout to the member for the rest of his/her life. None of the payout plans guarantee that your nominee(s) will receive any residual, and all payout plans feature residuals that decline to zero. The Basic Plan's residual takes longer to fall to zero, that's all.

 

[ZinY]

Ah, I understand why you chose Basic.

I was actually asking when you joined CPF LIFE, because the answer to your “what am I paying for?” question depends quite a bit on which cohort/rules you're under. That's why I asked when you joined.

I joined CPF Life in 2009 when it was launched. So, which cohort/rules I am under? Please enlighten me.
In fact, I now remember back that I was paying the premium and accrued interest for the assurance to get monthly payouts after age 90.

 

[ZinY]

...
Sure, you have 3 payout plan choices along with CPF RA funding level choices and starting payout age choices. And your spouse/partner has his/her own set of choices, too. YMMV.

Yes.
I think no plan is the best or the worst. Choose the most suitable one for oneself.

 

[BBCWatcher]

I joined CPF Life in 2009 when it was launched. So, which cohort/rules I am under?

Back in 2009 you had 4 payout plan choices, and one was the Basic Plan. You made your payout plan choice when you joined (which was how it worked back then). If you joined in 2009 you joined voluntarily since automatic enrollment only applies to members born after 1957. Presumably you also received attractive incentives to join — even more attractive now with the benefit of hindsight.

Today you probably have the one-time option to switch plans (to either the Standard Plan or Escalating Plan) if you wish. And/or you can add funds to your CPF Retirement Account if you wish, assuming you haven’t reached the current Enhanced Retirement Sum. Adding funds to an RA increases monthly payouts for life and also increases the residual paid to nominees (for ages when a residual remains). In some cases adding cash to your RA qualifies for either matching funds (added to your RA) or tax relief (if not to you, to the family member such as a child who tops up your RA).

 

[ZinY]

Back in 2009 you had 4 payout plan choices, and one was the Basic Plan. You made your payout plan choice when you joined (which was how it worked back then). If you joined in 2009 you joined voluntarily since automatic enrollment only applies to members born after 1957. Presumably you also received attractive incentives to join — even more attractive now with the benefit of hindsight.
....

Quite comprehensive info.
Thanks for refreshing my mind!

 

[royalmix]

I joined CPF Life in 2009 when it was launched. So, which cohort/rules I am under? Please enlighten me.
In fact, I now remember back that I was paying the premium and accrued interest for the assurance to get monthly payouts after age 90.

Wah, My guess is right: you chose to switch from RSS to CPF Life!

Congrats! You chose the best plan out of the 4 plans, most popular and still alive as a choice today, while the rest of the 3 plans had been phased out for new cohorts. The worst one is where both the 100% of premium + accrued interest will not be refunded, ie makan forever by the pool if the member uplorry earlier than expected.

This makes my answer to your question "what am I paying for" the longest! To avoid confusing others with rules that only affect you/your cohort, I will take it offline (pm). Give me more time to consolidate the detailed answers for you, now I need to complete my other tasks.

 

[Andrew833]

I chose the CPF LIFE Basic Plan years ago knowing exactly how it worked. It’s just that after all this time, I’m experiencing that classic Singaporean "Where is my money?" syndrome!
To be honest, I’ve always disliked buying insurance and prefer keeping my coverage to the minimum. While I wanted the guaranteed lifelong annuity payout that CPF LIFE offers, I didn’t want to pool 100% of my RA savings to share the mortality risk with everyone else.
As most Singaporeans know, the Standard Plan commits 100% of your RA to the premium pool right from the start. In contrast, the Basic Plan only takes an initial premium of about 15% to 20%.
While I know the Basic Plan yields lower monthly payouts than the Standard Plan, I think the amount is sufficient for my lifestyle. The biggest draw for me was capital preservation: if I pass away early, my remaining RA savings go entirely to my beneficiaries. I will only lose the accrued interest on the pooled premium.
In fact, choosing plans come down to personal priorities. I had made my decision and I am still confident it wasn't a mistake for me.

You are correct to choose Basic Plan for more bequest.
The other 2 plans are more for beating the pool and live longer than age 85.

 

[ZinY]

Wah, My guess is right: you chose to switch from RSS to CPF Life!

Congrats! You chose the best plan out of the 4 plans, most popular and still alive as a choice today, while the rest of the 3 plans had been phased out. The worst one is where both the 100% of premium + accrued interest will not be refunded, ie makan forever by the pool if the member uplorry earlier than expected.

This makes my answer to your question "what am I paying for" the longest! To avoid confusing others with rules that only affect you/your cohort, I will take it offline (pm). Give me more time to consolidate the detailed answers for you, now I need to complete my other tasks.

Take your time to pm me later. I will be looking forward to it. Thanks!

 

[BBCWatcher]

You chose the best plan out of the 4 plans, most popular and still alive as a choice today, while the rest of the 3 plans had been phased out.

The other 3 payout plans are closed to new enrollees. The Income Plan, at least, is still running for its enrollees.

The worst one is where both the 100% of premium + accrued interest will not be refunded, ie makan forever by the pool if the member uplorry earlier than expected.

No, there's nothing "worst" about the CPF LIFE Income Plan. The Income Plan offers the very highest level monthly payout, higher even than the Standard Plan. (The Escalating Plan initially starts at a lower payout but could end up with a substantially higher monthly payout.) The Income Plan was the very best choice for members trying to maximize their monthly lifetime retirement income who either didn't have any CPF nominees or who wanted to guarantee higher lifetime gifts and bequests from other assets. (See below.) For better or worse the Income Plan was closed to new enrollees since only about 4% of members selected it. The CPF Board needs a certain level of plan popularity to keep operating a plan. But the Income Plan was clearly the best available choice for some members in some circumstances.

You are correct to choose Basic Plan for more bequest.

All we can say is that the CPF LIFE Basic Plan maintains a higher residual for longer from CPF (only). Whether the Basic Plan ends up delivering a larger total bequest to heirs (and, better yet, lifetime gifts) is a very different question and depends on many other factors.

The other 2 plans are more for beating the pool and live longer than age 85.

No, not really, not only. If you know in advance (and with high confidence) how long you'll live, that's one thing. But most people don't. The CPF LIFE Escalating Plan, as a notable example, gives you the freedom to give away more money sooner. (Assuming the income stream level at least meets your basic needs — which can be arranged if you simply fund your RA "enough.") What's the recipient of this earlier money going to do with it? If the recipient puts it into a 0.05% interest bearing account and sits on it for decades, that's clearly not building dynastic wealth. If as another example the recipient invests your larger, earlier, guaranteed gift in high returning investments (which could even be a university degree), different story!

Earlier money is fundamentally much different than later money — especially when it's an uncertain and non-guaranteed delivery date on that later money, and it could even be zero. In some situations earlier money is infinitely more valuable. But it depends on what that earlier money is going to do.

You should never make CPF LIFE-related decisions in isolation. It's a powerful tool within an overall retirement financial strategy. Fully insure your longevity risk, and you have complete freedom to give away all your other assets in any amount at any time. What's that freedom worth? "It depends."

 

[firsttimebuyer]

I’m trying to understand how the CPF withdrawal rules at age 55 work when a large portion of CPF balances originated from cash-funded amounts rather than normal employment contributions.

Assume the following scenario:

- said individual wiped out much of his CPF for housing.
subsequently; much later on, a substantial portion of the individual's OA balance consists of cash-funded amounts (VC-3A or voluntary housing refunds) credited back into OA, together with the CPF interest earned on those amounts.
- A substantial portion of said individual's SA balance similarly consists of cash top-ups (VC-3A or RSTU) made for retirement, together with the interest earned on those top-ups.
- At age 55, RA is created using SA first, followed by OA, up to the applicable FRS.
- Individual own an HDB flat and subsequently use the property pledge/withdrawal rules so that he only need to retain the BRS in RA.

My questions are:

1. What happens to the amount in RA above the BRS if much of the RA was funded by cash top-ups?

My understanding is that retirement cash top-ups to SA, and the interest attributable to those top-ups, are subject to additional withdrawal restrictions.

Therefore, even if he own a property and would otherwise be entitled to withdraw the amount in my RA above the BRS, is it possible that he still cannot withdraw some or all of that excess because it originated from cash top-ups?

If so, what happens to those restricted amounts? Do they simply remain in the RA even though the required retirement sum, after using the property pledge, is only the BRS?

2. What happens to excess money remaining in OA after RA has been formed?

Suppose RA has already been created and he has satisfied the applicable retirement-sum requirement.

If he still have money left in OA, and much of that OA balance came from cash-funded amounts and the interest earned on them, does the source of those funds matter after age 55?

In other words, assuming he has already set aside the required amount in my RA, can he withdraw the remaining OA balance after age 55 whenever I want, or are there separate restrictions on OA money that originally came from cash-funded amounts?

I am particularly trying to understand the difference between:

1. cash top-ups made directly for retirement into SA/RA; and
2. cash-funded amounts that end up in OA, such as voluntary housing refunds,

and whether these two categories are treated differently for withdrawals after age 55.

 

[BBCWatcher]

….I am particularly trying to understand the difference between:
1. cash top-ups made directly for retirement into SA/RA; and
2. cash-funded amounts that end up in OA, such as voluntary housing refunds,
and whether these two categories are treated differently for withdrawals after age 55.

They are. VC3As (the SA and OA portions) and OA repayments, plus interest earned on those amounts, can be withdrawn in lump sums from age 55+ as long as you’ve set aside at least the Basic Retirement Sum (with property pledge or charge) in your RA. SA and RA top ups, plus accrued interest on those top ups, eventually streams out via CPF LIFE payments (with any residual paid to nominees).

Some people hyperfocus on this liquidity difference. You really shouldn’t. You’re well compensated for SA/RA top ups (4.0%+ interest, often tax relief), BRS-level CPF LIFE provides extremely low retirement income in a high cost of living country, and you’re probably going to have gobs of age 55+ liquidity regardless.

 

[BBCWatcher]

....and whether these two categories are treated differently for withdrawals after age 55.

Just to expand on why it's rather perverse to hyperfocus on this little bit of age 55+ liquidity, an age 65 BRS-level CPF LIFE Standard Plan monthly payout for a member celebrating his/her 55th birthday this year (2026) is only about S$950 per month (nominal 2036 dollars). Are you truly worried that you might not be able to drop your monthly pension payout from S$1,030 per month to S$950 per month (as a reasonable example)? Seriously? How are you going to live on even S$1,030 per month of level income from 2036 onward?

And remember, that S$1,030 is not in today's dollars. If the next 10 years of Singapore dollar inflation is similar to the past 10 years, that S$1,030 will have roughly the same real spending power as S$870 has today. And then THAT real spending power continues to erode with inflation for the rest of your life because that ~S$870 (2026 dollars) is the Standard Plan, not the Escalating Plan.

THIS is what you're worried about, that you won't be able to drive yourself even deeper into elder poverty (and/or further burden your already burdened kids or grandkids)? Why don't you worry about the much, much bigger problem: a pension that's way too small?

 

[Andrew833]

I’m trying to understand how the CPF withdrawal rules at age 55 work when a large portion of CPF balances originated from cash-funded amounts rather than normal employment contributions.

Assume the following scenario:

- said individual wiped out much of his CPF for housing.
subsequently; much later on, a substantial portion of the individual's OA balance consists of cash-funded amounts (VC-3A or voluntary housing refunds) credited back into OA, together with the CPF interest earned on those amounts.
- A substantial portion of said individual's SA balance similarly consists of cash top-ups (VC-3A or RSTU) made for retirement, together with the interest earned on those top-ups.
- At age 55, RA is created using SA first, followed by OA, up to the applicable FRS.
- Individual own an HDB flat and subsequently use the property pledge/withdrawal rules so that he only need to retain the BRS in RA.

My questions are:

1. What happens to the amount in RA above the BRS if much of the RA was funded by cash top-ups?

My understanding is that retirement cash top-ups to SA, and the interest attributable to those top-ups, are subject to additional withdrawal restrictions.

Therefore, even if he own a property and would otherwise be entitled to withdraw the amount in my RA above the BRS, is it possible that he still cannot withdraw some or all of that excess because it originated from cash top-ups?

If so, what happens to those restricted amounts? Do they simply remain in the RA even though the required retirement sum, after using the property pledge, is only the BRS?

2. What happens to excess money remaining in OA after RA has been formed?

Suppose RA has already been created and he has satisfied the applicable retirement-sum requirement.

If he still have money left in OA, and much of that OA balance came from cash-funded amounts and the interest earned on them, does the source of those funds matter after age 55?

In other words, assuming he has already set aside the required amount in my RA, can he withdraw the remaining OA balance after age 55 whenever I want, or are there separate restrictions on OA money that originally came from cash-funded amounts?

I am particularly trying to understand the difference between:

1. cash top-ups made directly for retirement into SA/RA; and
2. cash-funded amounts that end up in OA, such as voluntary housing refunds,

and whether these two categories are treated differently for withdrawals after age 55.

Let keep it simple, the amount top up ( any top up including VC) cannot be withdraw at age 55. Will transfer to RA at age 55. When you reach age 65 or if you choose age 70, you can opt to withdraw 20% of RA but that amount of top up still cannot withdraw.
Any form of top up including VC and later MRSS, all can only be withdraw vs monthly payout (CPF Life).

At age 55, Yes, SA first then OA to form RA.
If you hit FRS, any extra in OA can be withdraw.

Property pledge - at age 55, you have a property last until you reach at least age 95.
Recently CPF do auto property pledge if you meet this criteria.
That's mean you can keep BRS (any top up including VC) in RA, and transfer the rest to OA for withdrawal.
If your (any top up including VC) is more than BRS, then you can only transfer lesser amount to OA.

Voluntary housing refund - is not top up, it's the money you own CPF. So don't mix up.
What you refund is back to OA, you can clear it at age 55 using excess money in OA or leave it alone.

 

[sohguanh]

Let keep it simple, the amount top up ( any top up including VC) cannot be withdraw at age 55. Will transfer to RA at age 55. When you reach age 65 or if you choose age 70, you can opt to withdraw 20% of RA but that amount of top up still cannot withdraw.
Any form of top up including VC and later MRSS, all can only be withdraw vs monthly payout (CPF Life).

At age 55, Yes, SA first then OA to form RA.
If you hit FRS, any extra in OA can be withdraw.

Property pledge - at age 55, you have a property last until you reach at least age 95.
Recently CPF do auto property pledge if you meet this criteria.
That's mean you can keep BRS (any top up including VC) in RA, and transfer the rest to OA for withdrawal.
If your (any top up including VC) is more than BRS, then you can only transfer lesser amount to OA.

Voluntary housing refund - is not top up, it's the money you own CPF. So don't mix up.
What you refund is back to OA, you can clear it at age 55 using excess money in OA or leave it alone.

This is the clearest I read so far. Now I would like to ask upon age 55 to form RA how does one indicate you want BRS FRS ? Is it via cpf portal login there are screens to choose and submit ?

 

[BBCWatcher]

Let keep it simple, the amount top up ( any top up including VC) cannot be withdraw at age 55.

“All 3 account” VC3As (the portions that land in SA and OA), plus accrued interest on those amounts, can be withdrawn in lump sums from age 55+ if otherwise qualified.

Property pledge - at age 55, you have a property last until you reach at least age 95.
Recently CPF do auto property pledge if you meet this criteria.
That's mean you can keep BRS (any top up including VC) in RA, and transfer the rest to OA for withdrawal.
If your (any top up including VC) is more than BRS, then you can only transfer lesser amount to OA.

A property pledge is not automatic. You have to take action to do it, and it’s inextricably linked to reducing your RA. You can ask the CPF Board to do this either shortly before 55 (to limit your RA funding level) or anytime before CPF LIFE payouts start.

You may already have a qualifying property charge in place (meaning a qualifying house that you’ve paid for using OA dollars). If so, you can skip the property pledge part, but you still must take action if you want to reduce your RA.

Voluntary housing refund - is not top up, it's the money you own CPF. So don't mix up.
What you refund is back to OA, you can clear it at age 55 using excess money in OA or leave it alone.

Yes, but that would reduce or eliminate your property charge. If you then want to reduce your RA (or even keep your RA reduced if previously reduced), you may need to pledge your property.

This is the clearest I read so far. Now I would like to ask upon age 55 to form RA how does one indicate you want BRS FRS ? Is it via cpf portal login there are screens to choose and submit ?

Shortly before age 55 the CPF Board will send you a letter explaining your choices. Nowadays practically everything is done online.

I remain mystified why there’s so much forum interest in reducing a government guaranteed, high yielding pension with a monthly payout that’s already too low to a pension level that’s ridiculously too low. I really wish there’d be at least as many questions about increasing your pension somewhere above the “default” FRS level. Too many of you have lost the plot.

 

[sohguanh]

I remain mystified why there’s so much forum interest in reducing a government guaranteed, high yielding pension with a monthly payout that’s already too low to a pension level that’s ridiculously too low. I really wish there’d be at least as many questions about increasing your pension somewhere above the “default” FRS level. Too many of you have lost the plot.

You cannot assume all ppl think like you. For me I like the joy of earning monies but not spending monies. In fact my meals are simple porridge bee hoon soup. I seldom or never travel because I don't like. Instead I enjoy in free activities like walking in parks to see trees and plants insects etc. With such low spending I don't need so much monies every month. And yes ppl will ask earn and save so much for what? My answer I will donate to charities when I passed on. My last gift to humankind as I get cremated in Mandai Crematorium.

If not for I like the feeling of earning monies I may apply to be monk instead. Yes in Spore to be monk you need to be "interviewed" like applying for jobs. You need to be "ready"

 

[BBCWatcher]

You cannot assume all ppl think like you….

I obviously don’t. I answered the questions! Equally, we shouldn’t assume all people want to amputate their own pension limbs.

For me I like the joy of earning monies but not spending monies. In fact my meals are simple porridge bee hoon soup. I seldom or never travel because I don't like. Instead I enjoy in free activities like walking in parks to see trees and plants insects etc. With such low spending I don't need so much monies every month. And yes ppl will ask earn and save so much for what? My answer I will donate to charities when I passed on. My last gift to humankind as I get cremated in Mandai Crematorium.

Good intentions. Then why make charities wait? Cancer cures are better 20 years delayed? Give away all your money at least by age 65 when an adequate CPF LIFE Escalating Plan pension kicks in. Cure cancer today, not decades from now.

 

[sohguanh]

I got new question. After age 55 RA is formed either with BRS or FRS. Say I decide to continue working how then do my cpf monies flow into?

BRS. After 55 working cpf go to RA or OA for which I can withdraw?

FRS. After 55 working cpf go to RA or OA for which I can withdraw?

 

[Andrew833]

This is the clearest I read so far. Now I would like to ask upon age 55 to form RA how does one indicate you want BRS FRS ? Is it via cpf portal login there are screens to choose and submit ?

Standard is FRS, if not enough then CPF will transfer both SA and OA to RA.
No option to choose.

Initially, you reach FRS and form RA. you need to submit or inform CPF (I not clear on this part) for property pledge. Then you can withdraw half of RA, leave BRS in RA. I notice CPF auto do property pledge recently.

 

[sohguanh]

Standard is FRS, if not enough then CPF will transfer both SA and OA to RA.
No option to choose.

Initially, you reach FRS and form RA. you need to submit or inform CPF (I not clear on this part) for property pledge. Then you can withdraw half of RA, leave BRS in RA. I notice CPF auto do property pledge recently.

Wait what you mean is below flow?
1. RA already formed with default FRS
2. You somehow inform cpf you want to go for BRS? Then somehow you can withdraw half of RA?

My earlier thinking was before RA is formed you make decision to opt for BRS or FRS ?