Why isn't there a similar option of opting earlier payout between 60 to 64? Why can we defer but not bring the payout age forward?

I understand we can defer our payout age from 65 to 70 latest, doing so will improve our monthly receive amount. But why isn't there a similar option of opting earlier payout between 60 to 64?

Of course, opting for earlier payout I understand we will have lower monthly figure naturally. My question is more on why we can defer but not bringing it forward?

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Vincent Tan Wen Bin

05 Jun 2019

Assistant Vice President at Thinkers Alliance

At age of 55, you are able to withdraw the excess funds if your RA exceeds the FRS. However, the payout can only be withdraw at age of 65 onwards.

CPF LIfe payout is meant to help citizens have a stream of income when they reach their old age and retired. I understand where your question is coming from, wouldn't it be better if they payout earlier?

However, somethings are out of our control and we can't change it. The game would be to control what we can control and plan our finances to ensure that there are sufficient to use when we retire and at the same time build our own passive income to allow us to recieve income earlier as compared to just relying on our CPF life for retirement.

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