CPF LIFE Basic has been retired?

[SkyNinja]

My relative is currently on deferred CPF LIFE Plus and was told that it is a legacy plan.

Legacy plans:
- CPF LIFE Basic (recently retired?)
- CPF LIFE Balanced (retired few years ago)
- CPF LIFE Plus (retired few years ago)
- CPF LIFE Income (retired few years ago)

He has been given a once-off chance to switch to Escalating or Standard before he starts his monthly payouts.

Should he keep with his legacy plan or switch?

 

[kickass22]

My relative is currently on deferred CPF LIFE Plus and was told that it is a legacy plan.

Legacy plans:
- CPF LIFE Basic (recently retired?)
- CPF LIFE Balanced (retired few years ago)
- CPF LIFE Plus (retired few years ago)
- CPF LIFE Income (retired few years ago)

He has been given a once-off chance to switch to Escalating or Standard before he starts his monthly payouts.

Should he keep with his legacy plan or switch?

Hi, To your question on CPF life Basic.

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/cpf-life
https://www.cpf.gov.sg/members/FAQ/...group=CPF LIFE&folderid=11663&ajfaqid=2186377
If you check in there, you will see that it is still an active plan.

 

[fr33d0m]

It is "legacy option", not retired.