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How you can use your CPF

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

Monthly payouts

The savings set aside in your Retirement Account provide for monthly payouts, through CPF LIFE or the Retirement Sum Scheme, for your expenses in retirement.

You can apply to receive monthly payouts from the CPF payout eligibility age. The payout eligibility age is currently 65.

You can set aside the:

  • Basic Retirement Sum, if you own a property with a remaining lease that can last you till 95, or
  • Full Retirement Sum.

The remaining cash balances in your Ordinary and Special Accounts can be withdrawn, or you can continue to keep your savings in CPF to earn interest.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 to enjoy higher monthly payouts.

Payouts may be adjusted to account for long term changes in interest rates or life expectancy. For more information, visit the CPF website.


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

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 7%. This will give you up to 35% increase in payouts if you choose to start your payouts at 70.

You will be automatically included in CPF LIFE if you:

  • Are a Singapore Citizen or Permanent Resident,
  • Are born in 1958 or after, and
  • Have at least $60,000 in your retirement savings before you reach 65.

If you are not automatically included in 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 between 65 and one month before you turn 80.

Using MediSave to pay for healthcare

You can use MediSave to pay for:

  • Hospitalisation and some long-term care expenses for you and your dependants.
  • Certain outpatient treatments like chemotherapy and radiotherapy.
  • Premiums for MediShield / MediShield Life, MediSave-approved integrated shield plans, ElderShield or CareShield Life.

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.
  • Buy or build private residential properties.
  • Service housing payments such as:
    • Downpayment
    • Housing loan
    • Stamp and legal fees
    • Loans for the construction of your house and purchase of vacant land for private properties
    • Home Protection Scheme premiums for HDB flats

A CPF 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. To discharge the CPF charge, you need to refund the amount used for the property and the accrued interest to your CPF account.

You can withdraw your CPF savings for immediate needs if:

  • You have a property lease that lasts you up to age 95, and
  • The CPF savings you have used for the property, including accrued interest, is enough to make up your Full Retirement Sum.

When you sell your property, the CPF savings you used to pay for it, including accrued interest, will be refunded to your CPF account. This will restore your retirement sum and payouts.

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 loved ones against losing your HDB flat, in the event of death, terminal illness or total permanent disability. It insures members up to age 65, or until the housing loan is paid up, whichever is earlier.

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.