Singapore's national longevity-insurance scheme that pays a monthly income from age 65 for life. Three plans available — Standard (default), Basic, and Escalating (2% annual increase).
CPF LIFE is Singapore's national annuity scheme — a monthly income paid to you from age 65 for as long as you live. It is funded by the savings in your Retirement Account (RA), which is created automatically on your 55th birthday from your CPF Ordinary and Special Account balances.
When CPF LIFE kicks in at 65, your RA savings are converted into an annuity premium that funds the monthly payouts. The longer you live, the more total benefit you receive — which is exactly the longevity-insurance feature the scheme is designed to provide.
Crucially, payouts continue even if your CPF LIFE 'pot' is technically exhausted, because the scheme pools risk across all members. Whatever remains in the annuity pool when you pass on goes to your nominated beneficiaries.
Standard Plan (default): higher monthly payout, lower bequest. Most members are placed on Standard by default.
Basic Plan: lower monthly payout, larger bequest if you pass on early. Suited to those prioritising leaving money to children.
Escalating Plan: payouts increase by 2% each year to keep pace with inflation, but start ~20% lower than Standard. Suited to those expecting a long retirement and concerned about purchasing power decay.
Estimated monthly payouts (CPF's official Standard Plan illustrations for a member turning 55 in 2026 and retiring at 65 with savings equal to each Retirement Sum):
Basic Retirement Sum (S$110,200): approximately S$950 / month for life.
Full Retirement Sum (S$220,400): approximately S$1,780 / month.
Enhanced Retirement Sum (S$440,800): approximately S$3,440 / month.
Payouts can be deferred up to age 70 — every year of deferral adds ~6% to your monthly amount.
CPF LIFE is a baseline income, not a full retirement plan. Even at ERS levels, the payouts cover essentials but typically not lifestyle expenses, large medical bills, or family obligations.
Most planners model CPF LIFE as the floor of retirement income, then layer SRS, investments, and any rental income on top to close the gap between baseline and target lifestyle.
At age 65 by default. You can defer the start by up to 5 years (to age 70), with payouts increasing by roughly 6% per year of deferment.
Standard (default) suits average longevity and balanced needs. Basic gives a larger bequest if you die early but lower monthly payouts. Escalating starts 20% lower but increases 2% each year — best for those expecting to live to 85+. Once payouts begin, the plan choice is permanent.
Roughly S$950/month if you start at BRS (S$110,200), about S$1,780 at FRS (S$220,400), and around S$3,440 at ERS (S$440,800). Figures are CPF's official Standard Plan illustrations for a member turning 55 in 2026, with payouts starting at age 65.
Any remaining amount in the annuity pool plus your Retirement Account balance is paid to your CPF nominees. With Basic Plan, the bequest is larger (more money stays in RA before being annuitised); with Standard, it's smaller; with Escalating, smaller still.