The cost of everyday essentials—such as food, utilities, and healthcare—tends to rise over time. Increasing your pension income helps ensure that your purchasing power remains strong.
Delay Your Payout Start Date: If you defer
your CPF Life payouts to a later age, the monthly payout
amount will increase. This option is ideal if you have other
income sources and can afford to wait, as it provides higher
monthly income later.
Top-Up Your CPF Retirement Account: Making voluntary top-ups to your CPF Retirement Account
increases your CPF Life payouts. CPF top-ups are also eligible
for tax relief, making them a tax-efficient way to increase
your retirement income. OldSG advisors can guide you on top-up
strategies to maximize your CPF benefits.
CPF Life offers different plan types, such as the Standard Plan and Basic Plan, each with varying payout options. Choosing the right plan can make a significant difference in your monthly income, so it’s important to select a plan that best aligns with your financial needs.
