When you arrive at your payout eligibility age, you will automatically start receiving monthly payouts. You will also be asked to choose between three plans, each with their own features and benefits:

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%.

Thankfully, there are many tax relief schemes that you can qualify for.

By being a mother or signing up for a course to upskill, you are entitled to relief schemes that can help to subtract your taxable income by up to S$80,000. 

Full List of Items - IRAS | Tax reliefs, rebates and deductions