CPF Life

Have you been following up with the Lifelong Income Scheme?

This would be what we call an annuity in the insurance industry... and it is nothing new. However, the new part would be that it's compulsory (almost) for those who are 55 yrs from 2013 onwards. Let's see if the private insurers would come up with more competitive plans.

It's good in it's own ways, but seems like it also prevents us from enjoying a lump sum that we have so painstakingly saved up for.. rather drawing it for life. Pros and cons. Life is full of difficult choices.



* information from http://www.cpf.gov.sg