Hi. I have 50k in OA and 10k in SA which i can withdraw. Do it make any sense to put them into insurance annuity plan?

Hi anon,

​

This is similar to another question I just answered, but let's assume you are not the same person who ask the previous question. Still, most of what I said applies.

​

It sounds like you are already over 55 and have full withdrawal flexibility.

​

While I don't know the specifics of your current financial situation, please don't do that. Monies in OA and SA have flexibility and a decent interest rate.

​

An annuity, while putting you in control, also has limitations. It's ok to use spare cash lying in the bank to get one, but in general, you shouldn't be using CPF monies for that. I'd rather you transfer them to CPF RA for higher CPF LIFE payouts if you really want to have a bigger retirement income payout from annuities.

​

Naturally, this is not advice targeted for your specific situation, so you do need to seek tailored advice if needed.

Don't make sense because the traditional annuity plan return has been cut since mid of last year, CPF likely give better return especially SA. Those investment ones can potentially give better return, but it's not guararnteed. So it depends on your risk profile.