facebookHello everyone! My parents are in their early 70s and have minimal in their cpf account. Im thinking to top up their cpf every year, and would you recommend I enrol them both to CPF LIFE? - Seedly

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Anonymous

Edited 06 Feb 2022

CPF

Hello everyone! My parents are in their early 70s and have minimal in their cpf account. Im thinking to top up their cpf every year, and would you recommend I enrol them both to CPF LIFE?

Or to remain under the original retirement scheme?

My thoughts is that CPF life seems better… just that Im not sure how this really works out, as they have quite minimal in cpf now.. estimated RSS payout is abt $250 monthly for less than 7 years (under RSS scheme).

Any advice would help, really appreciate it!

Discussion (3)

What are your thoughts?

Tan Choong Hwee

Tan Choong Hwee

05 Feb 2022

Investor/Trader at Home

What are their current RSS payouts amount?

RSS payouts would be stopped once RA is depleted.

Joining CPF LIFE would mean receiving lower amount of monthly payouts than RSS payouts, but can last for a lifetime.

Can use CPF LIFE Estimator to check the estimated payouts if you top up their RA:

https://www.cpf.gov.sg/eSvc/Web/Schemes/LifeEst...

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