Should I put my money in a retirement plan that will guarantee 3k monthly retirement income from age 65 + variable bonus (effective interest rate of 4+%)?

If you bought any plan, always remember to count the IRR or the benefits that you can derive from it, in exchange for the risk-free 4% from CPF SA/OA

If there is a better opportunity, then yes.

If there is no better opportunity, then CPF is better.

The SA floor interest is reviewed yearly so you are right to say that it can change in future. I would instead look at the approach of looking at your assets and determining how much you would project to have in both guaranteed and variable asset classes by your retirement age. Let me share a little more about my own plan.

If you are comfortable to have your monies locked up in CPF, then CPF SA top ups can be one option to help you reach FRS faster. I am doing this myself as I am also looking at the tax savings and banking on the compounding effect of contributing more when I am still young.

Seperately I do have a private annuity as I retain control of when I receive my retirement income, as well as for how long. This will not be impacted by any changes to CPF regulations. I am also ensuring that I have additional long term care coverage as my annuity has that feature build in. (Careshield life might not be enough for me)

These two items form the cornerstone of my guaranteed income sources in retirement. Based on my calculations with provisions for inflation they will more than adequately provide for my needs. For my wants, I have stocks and UT, but as there are no guarantees on those, I won't elaborate too much, other than to say that even if I make wrong investment decisions, I still have CPF and my annuity to fall back on.

If you'd like to get an opinion on your strategy of efficiently deploying your funds into the various asset classes, feel free to reach out to me at [email protected]