Note: This post below has been updated on 25 August 2025.
- Every year ERS will increase. Is topping up to new ERS every year from 55 to 64 be an option and will this option be better than buying private annuity?
Yes, that is a good option if you are fine with maximising your CPF LIFE. However, the annual increase might not be large enough. The advantage of insurance annuity is the flexibility to customise to your retirement needs yet generating a reliable income. Adding insurance annuity gives you more flexibility and diversification.
- Should everyone upgrade from Eldershield to Careshield?
In general, I would think so, because the features of CareShield Life is more superior. It offers higher payout, annual increases and lifetime, though at a higher cost.
- I bought from OCBC GE Premier Life Gen V with OCBC – lump sum 70k + 180k loan from OCBC. Currently enjoying monthly payout of about $698 per month and paying
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