By MoneyBees
CPF LIFE turns your Retirement Account savings into a monthly payout for as long as you live. You can start it any time from 65 to 70, and if you have not chosen by 70 it starts then, on the Standard Plan. All three plans pay for life; they differ in how the payout moves. Standard stays level, Escalating starts lower and rises 2% a year, and Basic starts lower and falls once your CPF balances drop below S$60,000. For a man who turns 55 in 2026 and sets aside the Full Retirement Sum of S$220,400, CPF Board estimates about S$1,780 a month on the Standard Plan from 65, or about S$2,380 from 70.
| Standard | Basic | Escalating | |
|---|---|---|---|
| Plan you are put on if you have not chosen by 70 | Yes | No | No |
| Starting payout, man turning 55 in 2026 with the FRS of S$220,400, from 65 (CPF Board estimate) | About S$1,780 a month | Lower than Standard | Lower than Standard |
| How the payout moves | Stays level for life | Falls once your combined CPF balances drop below S$60,000 | Rises 2% every year for life |
| Keeps up with rising prices | No: the amount is fixed | No: the amount is fixed, then falls | Partly, through the 2% yearly rise |
| How long it pays | For life | For life | For life |
| When payouts can start | Any time from 65 to 70 | Any time from 65 to 70 | Any time from 65 to 70 |
| What your family gets when you pass away | Premium balance plus other CPF savings | Premium balance plus other CPF savings | Premium balance plus other CPF savings |
| Moving to another plan later | n/a | Can move to Standard or Escalating at any time, with no way back | n/a |
| Fits you if | You want one steady amount and will cover rising prices from other money | You can live on less later and want more kept in your Retirement Account early on | You want a payout that rises each year and can live on a smaller one at first |
All three plans pay for life, so the plan sets the shape of your payout, not how long it lasts. What decides it is how you'd cover rising prices: a level payout topped up from other money (Standard), a payout that rises 2% a year from a lower start (Escalating), or a lower payout that falls once your balances drop below S$60,000 (Basic). Two things raise the payout under any plan: starting later, by up to 7% for each year after 65 and up to 35% by 70, and setting aside more in your Retirement Account, up to the Enhanced Retirement Sum of S$440,800 in 2026.
Your payout eligibility age is 65. You can start any time from 65 to 70, and each year you wait raises the monthly payout by up to 7%, or up to 35% if you start at 70. If you have not told CPF Board by 70, payouts start then on the Standard Plan.
Members born in 1958 or later who have at least S$60,000 in retirement savings when their payouts start. CPF Board writes to you before you turn 65 to explain your options. Citizens and PRs who are not included can still join, any time from 65 until one month before they turn 80.
CPF LIFE pays every month for as long as you live. The Retirement Sum Scheme is for members who are not on CPF LIFE, such as those born before 1958 who did not join, or those with less than S$60,000 when payouts start. It pays at least S$350 a month from your Retirement Account until the savings run out.
Four things set it. Your Retirement Account balance when you join pays the premium, so a bigger balance means a bigger payout. Each year you defer adds up to 7%. CPF interest counts too: a 4% floor plus up to 2% extra on the first S$60,000 of your combined balances. Last is life expectancy, which is why men get higher monthly payouts than women: their average life expectancy is shorter.
These are CPF Board's estimates for a man who turns 55 in 2026, on the Standard Plan. The Basic Retirement Sum of S$110,200 pays about S$950 a month from 65, or S$1,280 from 70. The Full Retirement Sum of S$220,400 pays about S$1,780 from 65, or S$2,380 from 70. Topping up to the Enhanced Retirement Sum of S$440,800 pays up to S$3,440 from 65, or S$4,580 from 70.
The monthly payout rises 2% every year for life, on top of the year before. As an example, a payout of S$1,000 a month becomes S$1,020 the next year and S$1,040.40 the year after. It starts lower than the Standard Plan's payout for the same savings.
Under the Basic Plan, your payouts come from your Retirement Account first. Once your combined CPF balances fall below S$60,000, the monthly payout falls, and so does the extra interest paid on that first S$60,000.
If you are on the Basic Plan, or one of the older Balanced, Plus or Income plans, you can move to the Standard or Escalating Plan at any time. You cannot move back. Your whole Retirement Account balance, including the premium refunded from the old plan, then becomes the new plan's premium.
Your beneficiaries get your CPF LIFE premium balance, which is the Retirement Account savings deducted as your premium minus the payouts you received, plus anything left in your other CPF accounts. The rule is the same for the Standard, Basic and Escalating plans. Only the older Income Plan pays no premium balance.
Nothing changes for you. CPF LIFE pays every month for as long as you live, even after the premium you paid in has been fully paid back out. The longevity risk is pooled across all members, so payouts carry on rather than stopping when your own money runs out.
No. Top-ups and the plan are separate choices. Under any plan you can top up your Retirement Account up to the Enhanced Retirement Sum, S$440,800 in 2026 and twice the Full Retirement Sum since 2025, to raise your payouts. The plan sets the shape of the payout; the top-up sets its size.
You can apply to be exempted if you have a pension or a private annuity that pays you at least as much each month as CPF LIFE would. CPF Board sets the criteria and checks them when you apply.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).