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Hariz Arthur Maloy
27 Oct 2018
Independent Financial Advisor at Promiseland Independent
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Diversification of income streams. CPF and CPF Life has their limitations as well. Other than just maximum amounts that can be kept, there is also no flexibility and the rules can be changed.
However it is a great tool and should be abused if you're already a contributing member.
But there are financial products that can achieve similar payout structures if started early enough which also allows for flexibility in choosing your payout age and also stopping the policy at an old age when you don't want to receive the annuities anymore, plus a 100% preservation of capital unlike CPF Life.