I told a friend over a tau hui break just now that there are really many Singaporean families which seem to be doing very well but, in actual fact, are not doing well at all. In many instances, low or non-existent financial literacy is to be blamed. Chances are that these people will be unprepared or under-prepared for retirement. Many actually do not believe in annuities, especially the one that is linked to the CPF. In fact, ironically, I have found that savvy investors are more likely to say that annuities have a place in their retirement portfolios while people who really need annuities more don't seem to trust them. Anyway, if you do not believe in the CPF Life, no matter what people say, I understand if you want to skip the rest of the article but you might want to read this instead: Have huge amount of savings and work till 70? For the rest of us who believe in the CPF Life ......