CPF LIFE (the CPF Lifelong Income For the Elderly scheme) is Singapore’s national annuity scheme, which pays eligible members a monthly income for life using savings in their Retirement Account.
Key takeaways
- CPF LIFE pays lifelong monthly payouts, funded by a premium deducted from the Retirement Account.
- The payout eligibility age is 65; members can start payouts any time from 65 up to age 70.
- There are three plans — Standard, Basic and Escalating.
- The Escalating Plan starts with lower payouts that rise by 2% each year.
- Higher Retirement Account savings, up to the Enhanced Retirement Sum, fund higher monthly payouts.
See how this applies to your own figures.
Singapore CPF LIFE Plan Comparator →How CPF LIFE works
When a member starts payouts, a premium is deducted from the Retirement Account to join CPF LIFE, and the scheme pays a monthly income for the rest of the member’s life. The payout amount depends on the plan chosen, the Retirement Account balance and the age payouts begin.
The three CPF LIFE plans
- Standard Plan — a steady monthly payout
- Basic Plan — a lower monthly payout, with a smaller premium deducted at the start and payouts drawing down the Retirement Account
- Escalating Plan — payouts that start lower and rise by 2% each year
When payouts begin
The payout eligibility age is 65. Members can choose to start payouts any time between 65 and 70; deferring the start date increases the monthly payout because savings earn interest for longer.
Key CPF LIFE figures
| Item | Figure |
|---|---|
| Payout eligibility age | 65 |
| Latest age to start payouts | 70 |
| Escalating Plan annual increase | 2% per year |
| CPF LIFE plans | Standard, Basic, Escalating |
Figures as at 2026. Source: CPF Board.
Worked example
A member reaching the payout eligibility age of 65 uses their Retirement Account savings to join CPF LIFE and receives monthly payouts for life. Choosing the Escalating Plan gives lower initial payouts that rise by 2% each year. Actual payouts depend on the plan and Retirement Account balance.
Related terms
All Singapore glossary terms →Related calculator
Compare CPF LIFE plans and estimated monthly payouts based on CPF Board figures.
This page is provided for educational and informational purposes only. It does not constitute financial advice. All figures and worked examples are estimates for illustrative purposes, are subject to change, and do not reflect any individual’s circumstances. Always refer to the CPF Board and seek independent professional advice before making any financial decisions.