Understanding retirement income and payouts around CPF can be overwhelming. The different pension payout options available and the different amounts of CPF we can withdraw is confusing for most people. To plan retirement well, Singaporeans have to understand how best to utilise CPF Lifelong Income For The Elderly (CPF LIFE) for their retirement income needs. What is CPF LIFE? CPF LIFE is an annuity scheme that provides a monthly payout starting from the age of 65. From an annuity scheme, you can generally expect a fixed sum of money paid to you monthly for the rest of your life. Under the scheme, there are three CPF LIFE plans (Standard, Basic and Escalating) to suit different needs. Fun fact: you only need to choose your CPF LIFE plan when you wish to start your CPF LIFE payouts, any time from 65 to 70. Two key ways you can customise your CPF...