Personal Finance
Can I Change My CPF LIFE Plan?
By Investment Stab  •  May 11, 2020
Source: CPF There are 3 CPF LIFE Plans: Standard Plan, Basic Plan, and Escalating Plan. If you picked one of the plans (eg; Standard Plan), can you change to another plan in the future, say to Escalating Plan? Yes, yes you can. But you can only make a change to your CPF LIFE plan once, and it must be within 30 days of your policy letter date. After that, you cannot make the switch any more. How Do I Make The Change? For instructions on how to make the CPF LIFE plan change, click HERE. Can I Cancel My CPF LIFE Plan? Yes, yes you can. However, you can only cancel if you opt-in voluntarily into CPF LIFE. CPF LIFE is on a voluntary opt-in basis ONLY for members who are Singapore citizen or PR born before 1958; or,Have less than $60,000 in their RA 6 months before reaching the payout eligibility age If members met the criteria above, they are allowed to cancel their...
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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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