Which CPF Life Plan for me? Basic, Standard or Escalating?

By A Singaporean Stockmarket Investor (ASSI) • October 23, 2017

An annuity is supposed to help fund our retirement. So, I should be looking at getting a bigger payout, if possible, and not a smaller one.

So, my choice is the Standard Plan.

I know there are people who would like to leave more money behind for their children and they might say I think the way I do because I have none (or at least I think I have none).

OK, maybe so.

However, I do feel that children should take care of themselves once they are adults. Some might tell me that this is a Western idea. OK, then, how did this Chinese saying come about? 儿孙自有儿孙福，莫为儿孙作马牛。 Bad AK! Bad AK! Now, for some numbers. Following my last blog on annuity rates, if we were to choose the CPF Life Basic Plan in order to possibly leave more money behind when we die, the annuity rate is approximately 7.16% (i.e. $991 x 12 /$166,000)...

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