Three months before your Payout Eligibility Age of 65, you will receive a notification from CPFB on what you need to know when you approach 65. The notification will direct you to the personalised Plan my monthly payouts (PMP) service where you can instruct us to start or defer your payouts, view your estimated payouts, explore options for higher payouts, and confirm your bank account details.

 

To receive higher payouts:

 

If you wish to have higher monthly payouts, you can use your available CPF savings to increase your payouts through the same PMP service. The savings you can use include your available Ordinary Account (OA) savings, and an additional amount of up to 20% of your retirement savings (applicable for members born in 1958 or after). It is important to note that using more CPF savings to increase your payouts will correspondingly reduce the amount available for your future lump sum withdrawal from 65. You can have a better understanding of the impact on your withdrawable savings through the Plan my monthly payouts (PMP) service as well.

 

 

If you have previously joined CPF LIFE before reaching age 65, your monthly payouts will automatically start from the month you turn 65, unless you use the personalised Plan my monthly payouts (PMP) service to instruct us to defer your CPF LIFE monthly payouts. Please note that you can only defer your CPF LIFE monthly payouts up to age 70.