1. What is the CPF Life Calculator?

The CPF Life Calculator estimates monthly payouts from CPF Life annuity scheme based on your retirement balance and annuity factor. It helps Singaporeans plan for their retirement income.

2. How Does the Calculator Work?

The calculator uses the CPF Life formula:

Where:

• \( Balance \) — CPF retirement savings balance in Singapore dollars
• \( Annuity Factor \) — Factor based on age, gender, and chosen plan

Explanation: The annuity factor represents the present value of monthly payments for life, considering mortality rates and interest assumptions.

3. Importance of CPF Life Calculation

Details: Accurate payout estimation is crucial for retirement planning, ensuring adequate monthly income throughout retirement years under Singapore's CPF Life scheme.

4. Using the Calculator

Tips: Enter your CPF retirement balance in dollars and the appropriate annuity factor. Both values must be positive numbers for accurate calculation.

5. Frequently Asked Questions (FAQ)

Q1: What is CPF Life?
A: CPF Life is Singapore's national longevity insurance annuity scheme that provides monthly payouts for life from retirement age.

Q2: How is annuity factor determined?
A: The annuity factor is based on your age, gender, and the CPF Life plan you choose (Standard, Basic, or Escalating).

Q3: When can I start receiving CPF Life payouts?
A: Payouts typically start from your payout eligibility age, which is currently 65 years for most Singaporeans.

Q4: Are CPF Life payouts guaranteed?
A: CPF Life provides lifelong monthly payouts, but the exact amount may be adjusted based on actual investment returns and mortality experience.

Q5: Can I change my CPF Life plan after starting payouts?
A: Generally, you cannot change your plan once payouts have commenced, so careful consideration is important before choosing.