There is this planning problem that some may face. Out of the three different CPF LIFE Annuity schemes of Basic, Standard and Escalating, people prefer to choose Basic because, mathematically, it is the most “bang for the buck”. If you have other streams of income, then well and good, but I wonder if you don’t have are you okay with a couple of hundred bucks less. Most also don’t like to select Escalating because they don’t think they will live that long. I am unsure what yardstick they use to tell them that. Escalating will give you less starting income but the income grows at 2% a year. If you live till 110 years old, Escalating will give you more income than the other two plans. Given all this, people prefer to take Basic and manage their income on their own. However, they run into a problem still: How...