[Sg video] - CPF LIFE Standard, Basic or Escalating Plan: Which Should You Choose by 65 - 70 years old?

• Basic Plan: Provides lower monthly payouts that decrease over time, but has a higher bequest amount (the remaining savings that go to your beneficiaries upon death).
• Standard Plan: Offers higher and steady payouts that are not affected by inflation, but have a lower bequest amount than the Basic Plan.
• Escalating Plan: Offers lower initial monthly payouts, but they increase by about 2% annually to help keep up with inflation. This plan is ideal for those concerned about rising living costs.

1. Retirement Sums set the target: You can choose to save up to the BRS, FRS, or ERS, depending on how much monthly income you want.
2. Your RA funds CPF LIFE: The total amount of savings in your RA is used to purchase a CPF LIFE plan.
3. Plan choice determines payout: The CPF LIFE plan you choose (Basic, Standard, or Escalating) will determine the payout structure of your monthly income.
4. Topping up to meet sums increases payouts: By topping up your RA to a higher retirement sum, you will be able to afford the CPF LIFE plan that provides a higher monthly payout.

batman1 said:

One retirement scheme they make it so complicated.knnccb.

Click to expand...

batman1 said:

One retirement scheme they make it so complicated.knnccb.

Click to expand...