Hi Mr Tan Kin Lian,

Sad to hear that you will be leaving NTUC Income. Your years of contribution have made NTUC Income not only a household name but a well established organisation. While you are still in NTUC Income, I would like to seek some valuable advice for my wife retirement.

She will be reaching 55 years of age next month. She has very little saving in her CPF, about 10K, as she had stopped working after getting married. I have a saver plan of 50K in a local insurance company (not NTUC Income) which will be maturing next month. The matured value is about 61K.

I am not sure whether to use it to top up her retirement account or to buy an
annuity. Is there any other better option? Incidentally I have already retired and have bought an annuity from NTUC Income.

Grateful if you could advise me on a practicable approach.

CJM

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Dear CJM

My colleague will arrange for our product specialist to advise you. He will give you two options (i.e. i-Gift and life annuity) and compare with the retirement account.

If you are allowed to top up the CPF retirement account and earn 4% per annum, I think that this is probably the best deal.

Tan Kin Lian