Anonymous
What are the chances of a person's CPF payouts not depleted before he or she passes on?
What if I were to spend alot in my retirement years, would there be enough to cover my spending?
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Clarence Chua
15 Jun 2019
Financial Planning Specialist at Prudential Assurance Singapore
Right now we have CPF Life. Depending on the scheme you are in BRS, FRS or ERS, the money will be payout monthly until we pass on.
Here is a simple read to understand CPF life by dollar and sense
https://dollarsandsense.sg/beginners-guide-unde...
Alternatively, you can head on to CPF website to understand it too
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Loh Tat Tian
13 Jun 2019
Founder at PolicyWoke (We Buy Insurance Policies)
This question only affects people under the Retirement Sum Scheme (Old scheme not under CPF LIFE).
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Hi,
CPF LIFE is a life annuity, this means members can receive a regular stream of income for as long as they live and not worry of outliving their savings. When members pass on, any unused CPF LIFE annuity premium (without interest) and Retirement Account savings, will be paid to their beneficiaries.
Thank you.