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How you can use your CPF

Find out how CPF can help you meet your retirement, housing and healthcare needs.

From 1 January 2016, you can choose to set aside either the Full Retirement Sum or the Basic Retirement Sum with a sufficient property charge/pledge. The remaining cash balances in your Ordinary and Special Accounts can be withdrawn, or you can continue to keep your savings in CPF to earn interest. You can also top-up your Retirement Account up to the Enhanced Retirement Sum.

The savings set aside in your Retirement Account when you reach age 55 provide for monthly payouts from age 65, through CPF LIFE or the Retirement Sum Scheme, for your expenses in retirement.

Monthly payouts

You can apply to receive monthly payouts from the CPF payout eligibility age (previously known as the drawdown age). The payout eligibility age is currently 65.

Payouts are estimates based on CPF LIFE Standard Plan parameters, and computed as of 2019. Payouts may also be adjusted to account for long term changes in interest rates or life expectancy.

The table below illustrates the retirement sums and corresponding CPF LIFE payouts for members who turn 55 in 2019.

  Your monthly payout for life from 65 Retirement Account savings required at 55

For members who:

  • Own a property.
  • Have a sufficient property charge or choose to pledge your property.
$730 – $790

Basic Retirement Sum (BRS)


For members who either:

  • Do not own a property.
  • Own a property but do not have a sufficient property charge and choose not to pledge your property.
$1,350 – $1,450

Full Retirement Sum (FRS)


FRS = 2 × BRS

If you wish to put more savings in CPF LIFE to receive higher payouts $1,960 - $2,110

Enhanced Retirement Sum (ERS)


ERS = 3 × BRS


CPF LIFE is a national annuity scheme that allows you to receive a monthly income for life, starting from your payout eligibility age.

From 1 January 2016, you can choose to start your CPF LIFE payouts later, up to age 70. For each year deferred, your monthly CPF LIFE payouts permanently increase by about 6% to 7%.

You will be automatically included into CPF LIFE if you are a Singapore Citizen or Permanent Resident and have the following Retirement Account balances:

You turn 55 between 1 Jan 2013 to 31 Dec 2015 You turn 55 on or after 1 Jan 2016


  • $40,000 in your Retirement Account when you reach 55 years old.
  • $60,000 in your Retirement Account when you reach your payout eligibility age.
$60,000 in your Retirement Account when you reach your payout eligibility age.

If you are not automatically included into CPF LIFE, you will remain on the Retirement Sum Scheme and will still receive monthly payments from your payout eligibility age until your Retirement savings are fully paid out. You may also choose to opt in to CPF LIFE at any time up till age 80.

Using MediSave to pay for healthcare

You can use MediSave to pay for:

  • Hospitalisation expenses for you and your dependants.
  • Certain outpatient treatments like chemotherapy and radiotherapy.
  • Premiums for MediShield / Medishield Life or MediSave-approved integrated shield plans.
  • ElderShield premiums. ElderShield is a severe disability insurance scheme that provides basic financial protection to older CPF members who require long-term care.

Owning a home

You can use your Ordinary Account savings to buy a home under CPF housing schemes.

You can use it to:

  • Buy an HDB flat under the Public Housing Scheme.
  • Buy private property under the Residential Properties Scheme.
  • Service the monthly housing payments.

A CPF property charge is created when you use your savings in your Ordinary Account to finance the purchase of your property and pay for your housing loan.

If you do not have a CPF property charge, then a CPF property pledge will be created if you choose to withdraw sums in excess of the Basic Retirement Sum under the property pledge withdrawal rules. When the property is sold, the amount of the pledge will be returned to your CPF account from the proceeds of the sale. You can re-use it for subsequent housing purchases or draw it down if you have entered retirement.

A CPF property charge or pledge does not affect your ownership of the property.

Protecting your family

You can protect yourself and your dependants through several CPF schemes.

The Dependants’ Protection Scheme is a term insurance that mitigates the impact of a loss of income to a family, in the event of an insured member's permanent incapacity or death. It provides the dependants with a sum of money to tide over the initial difficult period.

The Home Protection Scheme is a mortgage-reducing insurance that protects you and your family against losing your HDB flat, in the event of an insured member’s permanent incapacity or death before the housing loan is fully paid up.

Growing your assets

You can invest your CPF funds that are above:

  • $20,000 in the Ordinary Account.
  • $40,000 in the Special Account.

You can invest them under the CPF Investment Scheme - Ordinary Account (CPFIS-OA) and the CPF Investment Scheme - Special Account (CPFIS-SA), respectively.

These schemes allow you to invest in products such as insurance, unit trusts, exchange traded funds (ETFs), fixed deposits, bonds and treasury bills, shares, property funds and gold.