Are you sure CPF LIFE is enough for Retirement? Really?

SG flagMany Singaporeans are still paying for their own properties, the vast majority are still paying for their HDB residential flats, Executive Condominiums (ECs), private condominiums and landed properties and some have even bought commercial properties for investment purposes. Many people use all their CPF Ordinary Account funds to pay their monthly mortgage installments, with nothing much left at the end of the month.

Seriously, do you think you can save up the full retirement sum or basic retirement sum when you reach age 65?

You may not have put in much thought about this because you have been busy working your butt off to pay for all the bills in your family. But do set aside some time now to think about the future and that’s really important because you do not have time to navigate when you are in your late 50s or early 60s!

CPF Full Retirement Sum is for people who turned 55, a table below shows the amount from 1 July 2003 to 2015: It is increasing every year! What about 20 years from now? You can just imagine the huge amount in 20 years time…In 12 years the Full Retirement Sum has DOUBLED from $80,000 to $161,000!!!

55th birthday on or after Full Retirement Sum
1 July 2003 $80,000
1 July 2004 $84,500
1 July 2005 $90,000
1 July 2006 $94,600
1 July 2007 $99,600
1 July 2008 $106,000
1 July 2009 $117,000
1 July 2010 $123,000
1 July 2011 $131,​000
1 July 2012 $139,000
1 July 2013 $148,000
1 July 2014 $155,000
1 July 2015 $161,000

To factor in inflation and rising lifestyle expectations, the Basic Retirement Sum ( you have to pledge your property to CPF Board) is set to increase.

             ​ Basic Retirement Sum​
Age 55 in 2016 $80,500​
Age 55 in 2017​ $83,000
Age 55 in 2018 $85,500​
Age 55 in 2019 $88,000
​Age 55 in 2020 ​$90,500

People who are aged 55 this year and have only $80,500 in their Retirement Account will receive $660 – $770 a month from age 65… Is that enough? Ask yourself this brutal truth, is this enough? Obviously not!  After paying for utility bills, phone bills, groceries, transportation (public), you will have nothing left!!!

Now you have seen what the aged 55 people are going through, please think about the future, your future. Do you want to step into the same shoes as theirs? If not, do something different now!

Wake up from your financial slumber and meet a qualified independent financial adviser representative like me as soon as possible. call me now at 90011082 or if you’re shy please email to me at and I will call you back.

Let’s make 2016 a year that will change your financial future. Make it count… wake up now. Start a savings plan that will keep your head above the rising tide of inflation… That’s about 3% per year!

See you soon!





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