Hi anon,
ā
It sounds like you are already over 55 and have full withdrawal flexibility.
ā
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.
ā
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.
Hi anon,
ā
It sounds like you are already over 55 and have full withdrawal flexibility.
ā
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.
ā
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.