Monday, May 26, 2014

Analysis of CPF Life


A CPF member reaching age 55 in or after 2014 will have the "minimum sum" portion of the CPF savings transferred to CPF Life. The member is given a choice of two plans, known as the standard and basic plan, which gives a monthly payout from age 65, payable for life, and a bequeath to the family on death. If the member does not exercise a choice, the default choice is the standard plan.

The standard plan has a higher payout than the basic plan, but give a lower bequeath to the family on death of the annuitant.

The PDF below contains an analysis of the payout and bequeath and helps the CPF member to decide on the choice of the plan to opt.

1 comment:

Weng Mao Fa said...

Cost of a bed (open ward) in Nursing Home:

My mother @Singapore - S$2200 and above monthly (tube feeding S$300, Diapers S$200)

My father @JB - S$1300 and above monthly (Diapers S$100+)

X 12 months = S$?

I stay HDB flat. I am having such problem right now though my parent receive CPF Life on the 4th each month. IT IS MONEY NOT ENOUGH.

Recently, I attended a caregiver course. A classmate stay in landed property. Her question in classroom: where can I get financial help?

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