What Happens If I Chose The CPF LIFE Standard Plan? Members who chose the CPF LIFE Standard Plan, the following will happen to their CPF account:
- All savings in members' RA will be used as the annuity premium for CPF LIFE.
- Premiums will be paid into the Lifelong Income Fund.
- Interest earned on the premiums (4% + 1% + 1%) will be credited into the Lifelong Income Fund.
- Monthly payouts will be paid from the Lifelong Income Fund for as long as members live.
- If members passed away, all the money in their CPF and their CPF LIFE premiums that have not been paid out as monthly payouts will be given back to the members' loved ones as 'Bequest'.
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