CPF Life - Standard Plan

[shodan99]

Lucky never test on CPF for national exams. I think everyone will fare badly. It's just too complicated with too many rules...

its complicated cos everyone's situation is different. The fact that they can distill it to this stage is already very good liao. As for me, when the time comes, I'll just take some time to go visit CPF office to clarify whatever doubts I have. its better this way rather than tia gong here tia gong there and form your own inaccurate conclusions.

 

[Lord84]

#saguwisdom

This is like saying.. if you wanna keep money for your family.. die earlier.. hard truth

 

[d3n]

idea also.. but not an option if parent still here..
see how bah..

bring your parents along lah

 

[Hello_Kitty]

I should be getting the first payout on 2/3 Sep. I'll definitely update.

did u receive your first payout on 2 Sep???

 

[Elfblade]

I should be getting the first payout on 2/3 Sep. I'll definitely update.

Today 2nd Sep liao, have you gotten your payout TS, and if yes how much per month?

 

[Elfblade]

did u receive your first payout on 2 Sep???

Haha, seems like you're as eager as me to know how much TS receive as CPF Life payout per month.

 

[Hello_Kitty]

Haha, seems like you're as eager as me to know how much TS receive as CPF Life payout per month.

TS too happy to reply after seeing his payout

 

[weiess]

bring your parents along lah

stubborn and don't even like traveling ... difficult

 

[Elfblade]

Very interesting chat. I've hit FRS on my SA alone this year, contemplating on using my OA to achieve ERS. I am 47 and still have 8 years ahead of me. Am pretty sure I will hit ERS by 55 but not yet decided on whether to go for FRS or ERS.

 

[xdivider]

Very interesting chat. I've hit FRS on my SA alone this year, contemplating on using my OA to achieve ERS. I am 47 and still have 8 years ahead of me. Am pretty sure I will hit ERS by 55 but not yet decided on whether to go for FRS or ERS.

In theory u can spend the oa at frs rate from age 55 til 65, eliminating the 10 yr wait....

 

[eggie011]

did u receive your first payout on 2 Sep???

No yet. Should be tomorrow. I think it's exactly 7 days after they enrol you in CPF Life that payout starts. So it's 3rd of the month and every month thereafter.

 

[eggie011]

Today 2nd Sep liao, have you gotten your payout TS, and if yes how much per month?

Tomorrow is the day!

 

[Elfblade]

In theory u can spend the oa at frs rate from age 55 til 65, eliminating the 10 yr wait....

This is a very good suggestion!! FRS for 2026 is at $220,400 thus ERS is $440,800. Based on 3.5% yearly increase for both FRS & ERS, the projected amount in 2034 should be around $290,200 and $580,400. WTF man, more half a Mil for ERS in 2034!!!

If I have these amounts by 55, I can pledge FRS and start withdrawing the rest. $290K divide by 10 years divide by 12 months = $2.4K / month. After depleting my OA and reaching 65, my CPF Life will take over and pay me around $1.8K / month for the rest of my life.

I can effectively retire at 55 if I lead a frugal life.

 

[eggie011]

Today 2nd Sep liao, have you gotten your payout TS, and if yes how much per month?

@Hello_Kitty @coyote

I was wrong! They actually started the payout already. It's $1171.51. But the money is not in my bank account yet.

This is the screenshot from my retirement dashboard. Have to login to the website to see.

 

[Hello_Kitty]

@Hello_Kitty

I was wrong! They actually started the payout already. It's $1171.51. But the money is not in my bank account yet.

This is the screenshot from my retirement dashboard. Have to login to the website to see.

i wonder if you need to login monthly to withdraw from CPF into your bank???

if it has auto credit into the bank, it will be better

 

[1982-1994]

if already hit FRS at 55 and RA was created.
is it wise to continue to top up RA? so to get more cpf life monthly payout at 65 ?

If you have the spare money n not gonna need it, the earlier you top up, the more compound interest you will gain.

My mum had only $10k in her RA at 65 and got payout of $45 nia
It was only when she top up $220k into her RA at 67, then she received $960 FRS/escalating

Had she hit FRS of $123k in 2010, then she also no need to top one lump sum of $220k but ok lah, that was part of the sale proceeds of her 4R flat

Spoiler

Those who said top up to CPF is dumb, imagine my mum could have squandered all the $220k within 10 years after payout
Her so-called good friend wanted to borrow $30k from her ,mum wanted to lend her but I stopped her since her OA had $50k nia,even her God son came over to her place to analyze it

No yet. Should be tomorrow. I think it's exactly 7 days after they enrol you in CPF Life that payout starts. So it's 3rd of the month and every month thereafter.

i wonder if you need to login monthly to withdraw from CPF into your bank???

if it has auto credit into the bank, it will be better

Auto credit

My mum's birthday is in Aug anyway

sagu suggest the monthly payout will be credited on Friday, every 4th working day of the month



#saguwisdom

You anyhow nia

Just increased payout

base on Y2026, FRS is 220,400. At Y2036 which is age 65, CPF life monthly payout is 1640 to 1780.
Do you all think that this amount of FRS payout is enough for retirement at Y2036? Even now at Y2026 also not enough.

2026 Sum Set Aside at 55	Estimated Monthly Payout at Age 65
BRS ($110,200)	$890 – $950
FRS ($220,400)	$1,640 – $1,780
ERS ($440,800)	$3,180 – $3,440

$1780 is like the lower end of FRS escalating payout in 2045 but I still find it manageable even for 2, just that no money to buy gadget, that is why I am aiming for ERS

 

[eggie011]

i wonder if you need to login monthly to withdraw from CPF into your bank???

if it has auto credit into the bank, it will be better

Haha, DBS app just popup a notification. Just received the payout.

 

[Andrew833]

Lucky never test on CPF for national exams. I think everyone will fare badly. It's just too complicated with too manysrules...

Ask MP who in charge of CPF, will also fail

 

[game goondu]

Haven't decide.
Was thinking from 55 to 65, still got 10yrs to decide whether is a good move..

If you want more monthly payout, then the earlier u top up, the more interest u will get and more payout at 65.

 

[weiess]

My mum had only $10k in her RA at 65 and got payout of $45 nia
It was only when she top up $220k into her RA at 67, then she received $960 FRS/escalating

meaning one can top up even after the cpf life start rolling..
only thing is getting less due to the RA top up interest not taken into account..