Whether you’re planning to retire next year or 20 years from now, one thing is clear:
retirement is no longer a distant thought — it’s a personal strategy.
In Singapore, retirement is supported by a structured system that includes CPF savings,
employment protections, and government support for healthcare, housing, and income. But
making the most of these benefits requires understanding your options, knowing what
changes at different ages, and taking steps early.
Understanding CPF: The Foundation of Retirement in Singapore
The Central Provident Fund (CPF) is a compulsory savings plan designed to help
Singaporeans build security in three key areas:
Retirement
Healthcare
Housing
Every month, both you and your employer contribute a portion of your salary to your CPF
accounts:
Ordinary Account (OA): Used for housing, insurance, and education
Special Account (SA): Meant for retirement savings
MediSave Account (MA): Set aside for medical expenses and insurance
At age 55, a new Retirement Account (RA) is created by transferring savings from your OA
and SA. This account forms the basis for your CPF LIFE monthly payouts, which start from
age 65 (or later, if you choose to defer).
Why CPF Planning Matters
Compound interest: Your SA and RA earn up to 4–6% interest annually
Higher top-ups now = larger payouts later
Delaying CPF LIFE payouts (up to age 70) increases your monthly income
Use the CPF LIFE Estimator to calculate your projected payouts.
