Personal Finance
Can I Opt Out of CPF LIFE?
By Investment Stab  •  July 12, 2016
Everyone has a goal of retiring comfortably after working more than half their lives out for money. We all hope to get a lump sum retirement fund when we reach our retirement age. But, in Singapore, our money is instead secured away and we are given a monthly income from that pool of money. Today, we will be sharing how you can get that pool of money out of your CPF! There are 2 ways to do this: 1) Buy a Life Annuity Plan We talked about what an annuity plan is and how it can help you withdraw your retirement sum from the CPF. You can find the post here: How to Escape Retirement Sum?  2) Own a Pension By owning we do not mean you go out and buy a pension. A pension is usually a retirement payout paid by the company you worked for. It is ......
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By Investment Stab
We are a group of Singaporean students who are curious and interested in Finance. As we dive deeper into this area in search of more knowledge, the more debates and differences we have. We also realised that financial literacy is not strongly inculcated in the younger generations, leading to numerous costly mistakes. Some of such includes believing in "high profiting" scams such as land banking and buying unnecessary investment schemes which are often motivated by the salesperson's personal interest ...
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2 Comments

2 responses to “Can I Opt Out of CPF LIFE?”

  1. Michael Tan says:

    Hey so i called CPF up and asked if its possible to be excluded from CPF life payout should i have a lifetime annuity/pension scheme that will support me in my retirement, and they told me that is not possible at all.

    How are you guys able get around it, and where are yall getting the information from?

    I wanna be excluded T.T

    • Pritam Parmanand says:

      Apparently they stick to the guide provided to them and not FLEXIBLE to entertain any changes or problems faced by the public.

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