Should a CPF Minimum Sum Scheme retiree join CPF LIFE?

I am going contrarian thinking. But it depends whether you are looking to (1) maximise value, or

(2) Insure for life-long income.

If you wish for (1), you have to understand that the payouts will run out at age 91, since she will be on the Retirement Sum Scheme.

But if she has CPF combined 60k, they are already earning 6%/5% interest, so it's also 1 way to ask yourself, do you want to use those interest to fund her too?

Speak to me for a detailed explanation as it will involve a long talk and strategic placement, [email protected]

I would recommend that you join CPF Life as it's a annuity with lifetime income till death.

With the older CPF Minimum sum scheme, your monthly payouts are drawn from your RA account which means that payouts will STOP when your RA balance reaches $0 at around 85-90 y/o. leaving nothing for yourself or any bequest for your children/dependants.

I personally helped my grandmother join CPF Life; The Basic plan made more sense as the total amount including bequest, would be much higher than the Standard plan albeit slightly lower in monthly payouts for the basic plan.

you might want to read these 2 articles as well as the CPF site to have a better understanding to better decide if you would want to join CPF Life.

https://dollarsandsense.sg/standard-basic-plan-...

https://blog.moneysmart.sg/budgeting/cpf-life-p...

https://www.cpf.gov.sg/Members/Schemes/schemes/...