CPF LIFE

Been quite a long time never blogging and finally I am back now. Plan to blog down the changes of the recent CPF Life that Singapore Government imposed.

I believe that since end 2009, CPF LIFE scheme allows elderly Singaporeans to receive a monthly income for as long as they live, with the amount depending on their savings in their Retirement Account (RA).

Currently, Singaporeans opting into CPF LIFE can choose from four plans, the Plus, Basic, Income, and Balance plans.




With the changes to the scheme, CPF LIFE will comprise of a new default Standard Plan — which combines the Balance and Plus Plans — and the current Basic plan. The Income Plan will be dropped



Hopefully these information are useful to some people reaching 55 years by Jan 2013. Personally, I feel that these CPF LIFE scheme is beneficious for people as now people have longer Life Spend. But the monthly payout isnt enough to depend on. Therefore dont you think that is important to grow your retirement funds instead of relying on your existing CPF.

Is important to do FInancial Planning for yourself as early as possible in order to step into Financial Freedom.