CPF Enhance scheme or outside investment?

CPF Life draws down your capital to 0.

If you want to earn from that 100k and also pass it on to your next of kin, getting a private lifetime annuity is a better choice.

You can easily get 6k a year from that 100k in 5 years time for life without reduction in your capital and touching the stock market.

Timeframe and cash flow needs
If you want to invest, how long do you intend to hold those investments? Would you need the $100k in the next 5 years? That will determine what products you can invest in

Knowledge of investment
Do you know how to invest? The CPF enhance scheme is like a dummy-proof hassle-free way of getting 4% near risk free interest on your money. The downside is you might not be able to withdraw it as conveniently when you want to.
If you don't understand the financial markets or how it works, sticking to safer investments are probably better

https://youtu.be/7KrzQp0kyoY

Maybe this video might help in thinking about how to plan your finances.
It's a little long but worthwhile