Monday, December 17, 2018

CPF Life payout are not guaranteed

Dear Mr. Tan,
I have read articles in the newspaper and was quite convinced that I could get a "higher" monthly payout if I continue to ensure I have a big sum of money in my Retirement Account.
However, my CPF friends recently told me that the monthly CPF Life payouts are based on estimates/ projections, just like what you see in a Benefit Illustration for an Endowment insurance policy.
These monthly payout values as illustrated in your articles and on CPF website are not guaranteed. I found the following fine print when I use the CPF Life Payout Estimator tool on the CPF website:

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