The amount you can withdraw from your retirement savings when you have alternative lifelong income, such as a pension or annuity is subject to the Board’s approval and depends on the following factors:

 

1. Total guaranteed lifelong monthly payout:

• The total guaranteed monthly payout amount may include multiple pension/annuities.
• Instruments such as endowments, whole life policies and bonds are not considered as sources of lifelong income.

2. Comparison to CPF LIFE Standard Plan Payout computed based on your Full Retirement Sum:

• If your total guaranteed lifelong monthly payout equals or exceeds the monthly payouts under CPF LIFE Standard Plan, you may withdraw all your CPF retirement savings*.
• If your total guaranteed lifelong monthly payout is less than the monthly payouts under the CPF LIFE Standard Plan, you may withdraw your CPF retirement savings* partially.

*Withdrawable amount excludes any cash top-ups, CPF transfers to the Retirement Account (RA) and government grants.