CPFB | Retirement income

Retirement income

Receive a retirement income with CPF

CPF meets your retirement needs in two ways. You’ll receive a monthly payout and the option to make retirement withdrawals for immediate cash needs.

Monthly payouts

Receive retirement income no matter how long you live.

Withdrawals for immediate needs

Make withdrawals for immediate cash needs.

Retirement income

Monthly payouts

We cannot predict how long we'll live. Hence it’s not easy to decide how much we need for our retirement. Spend too much and you might not have enough. Save too much and you end up depriving yourself.

That's why we launched CPF LIFE. A scheme that provides you with monthly payouts no matter how long you live. With CPF LIFE, you can fully enjoy the savings you've built, with greater peace of mind.

The monthly payouts you’ll receive depends on how much retirement savings you have.

More on how your retirement savings are set aside More on monthly payouts

Unlock the value of your property

Did you know your property can be an additional source of retirement income?

Moving to a 3-room or smaller flat and receive a bonus

If you are moving to a 3-room or smaller flat, you can supplement your retirement income by topping up your CPF Retirement Account through the Silver Housing Bonus scheme to boost your CPF monthly payouts, and receive a cash bonus of up to $30,000.

More details

Ageing in place and monetise your housing property

If you own a HDB flat

You can sell part of your flat’s lease to HDB through the Lease Buyback Scheme, and use the proceeds to top up your CPF Retirement Account to boost your CPF monthly payouts in retirement, while continuing to live in your flat. You can also receive a cash bonus of up to $30,000.

More details

If you own a private property

You can consider speaking with your financial institution or advisor on the available products in the market that allow you to monetise your private property to supplement your retirement income while ageing in place. As with all important financial decisions, please understand the nature of the product, and assess your risk tolerance and retirement needs before deciding if it is appropriate for you.

You may use HDB’s Enquire Housing Monetisation Options e-Service to check your eligible Housing Monetisation options.

Retirement withdrawals

Withdrawals for immediate needs

If you have an immediate need, you can withdraw up to $5,000 after 55. You can withdraw more, if you have set aside the required retirement sum in your Retirement Account.

Learn more

Early retirement

Withdrawing on reduced life expectancy

If you have been certified by an accredited doctor to have a reduced life expectancy, you can apply to withdraw some of your CPF savings.

Learn more

Support

Cash payouts for the elderly

Eligible seniors aged 65 and above will automatically receive payouts every three months. This benefits Singaporeans who had low incomes through life and now have little or no family support.

Silver Support Scheme