Dear Mr Tan,
I have been approached by an insurance agent to buy a life annuity from NTUC, using my CPF minimum sum. I have just passed 55 years. What do you advise?
You can read paragraph 3 of this FAQ on Financial Planning for Seniors.
As CPF is paying interest at 4% per annum on your retirement account, it is quite attractive. You should keep your money there.
You have additional savings that can be used to buy the life annuity.
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