CPF LIFE - The National LIFElong Income Scheme

Under the current CPF Minimum Sum scheme, CPF members receive a monthly income from their Minimum Sum (MS), upon reaching their draw-down age, for up to 20 years. As Singaporeans are living longer, this system is becoming inadequate, because members may run out of income support while still living.

The National Longevity Insurance Committee (NLIC) was formed in September 2007 to study the best way to provide CPF members with an affordable, flexible and fair way to have an income for life. The committee shared its recommendations at a press conference on 12 February 2008. The NLIC's report has been accepted by the Government.

The CPF Board will operate the new National LIFElong Income Scheme, or CPF LIFE for short. Through this scheme, the full MS, including the property pledge, will provide participants with an income for as long as they live.  They can look forward to a steady income, the amount of which will depend on their CPF savings, up to the full MS.