One out of every three 65-year-olds today will live past 90. That’s a 25+ year retirement. And one in seven will live past 95.

Yet most retirement plans are built around outdated assumptions—assuming a retirement period of 20 years, using overly simplistic withdrawal strategies, or underestimating inflation.

The Majulah Package aims to provide Singapore Citizens born in 1973 or earlier, especially those born in 1960 to 1973, with support for their retirement and healthcare needs.

What used to cost $100 in 2019, now costs nearly $116. To live the Singaporean Dream, we will need about $4.4 million.

During this period, we can make multiple withdrawals, with only 50% of each withdrawal amount being considered taxable income.

Our minds are vulnerable to innate cognitive biases and psychological pitfalls when it comes to taking actions that will benefit us in the long term 

If you retire at 62, you could spend 23 years in retirement. Longer life expectancies mean longer retirement periods, which require a larger nest egg.

There is a list of investment products, such as annuities, shares, and unit trusts that are approved for investment under CPFIS. The available investments differ depending on whether you’re using your OA or SA funds as well.

CPF members can choose their CPF LIFE plan anytime from ages 65 to 70 years old on when they wish to receive their monthly payouts.

The latest age to which CPF LIFE payouts can be deferred is 70. For each year deferred, the monthly payouts will increase by up to 7%.