Recommendation for Annuity?

Hey there. One of the best annuity we have in Singapore is CPF life. (I won’t go into CPF Life details here)
But for starters I will recommend that you max out CPF life to ERS level (base on your future age) and you can get about 1,500/month.

The payout for CPF life starts at 65. So you may split your annuity plan into 2 portion
1. 55 yrs to 65 yrs
2. 65 yrs onwards (this is to cover the shortfall from CPF life)

Also, you want 2,000/month base on today’s value or just in absolute dollars? As you will know, 2,000 in 27 years time is probably going to be worth 1,000 or less.

Annuity plans from different companies are probably around 90% the same in their structures and all. Price differences are not huge, so I will not go comparing the plans.

The focus should be to build up a strong annuity plan against inflation and again, CPF Life is one of the best annuity we have in Singapore and I will include it in an annuity portfolio.

If you are keen to discuss how we can build an inflation resistance annuity portfolio, let me know.

Hey Anon,

Based this on 1.5k Gtd Monthly Income and Retirement Payout Age of 55.

Aviva MyRetirement Choice - Pay 1290.40/mth for 25 years. Receive projected 3785.75/mth for 35 years.

Aviva MyLifeIncome - 1937.95/mth for 25 years. Receive projected 4231.50/mth for life. If you surrender at age 90, you receive a projected $728,649 back of which $626k is guaranteed.

Manulife RetireReady Plus - Pay 2260.45/mth for 20 years. Receive projected 4464.50/mth for life.

TM Retirement GIO - Pay 2785.50/mth for 15 years. Receive projected 4350/mth for life. If you surrender at age 90, you receive a projected $558,382 back of which your premiums paid are guaranteed.

NTUC RevoRetire - Pay 979.80/mth for 23 years. Receive projected 2766/mth for 30 years (can't go for longer).

AXA Retire Treasure (II) - Pay 1763.08/mth for 25 years. Receive only guaranteed 1500/mth for life. If surrender at age 90, you receive a projected $137,534 back. But if die at 90, DB is $4.5m.

Chinalife Lifetime Income Plan - Pay 1749.73/mth for 25 years. Receive a projected 4231.50/mth for life. If you surrender at age 90, you receive a projected $674,756 of which $550k is guaranteed.

IFA Rep here. If you want to discuss these plans further, let me know.