← Guides / Singapore

Singapore Pension Guide

the Singapore pension and retirement system for 2026. The guide covers: the CPF Life (the national longevity annuity scheme) — the mandatory annuity for the Singapore citizens and the PRs born in 1958 or later, providing the monthly payouts from the payout eligibility age (the "PEA" at 65) for the lifetime; the CPF Retirement Sum — the Basic Retirement Sum (BRS) of SGD 102,900, the Full Retirement Sum (FRS) at SGD 205,800, and the Enhanced Retirement Sum (ERS) at SGD 308,700 for 2026; the Retirement Account (RA) — the account created at the age of 55 from the OA and the SA savings, funding the CPF Life payouts.

CPF Life — National Longevity Annuity Scheme

  • Mandatory participation: CPF Life (the "CPF Lifelong Income For the Elderly") is the national longevity annuity scheme that provides the monthly payouts for the lifetime. The scheme is mandatory for the Singapore citizens and the PRs born in 1958 or later who have the Retirement Account (RA) savings of SGD 60,000 or more at the payout eligibility age (the "PEA" at 65).
  • Payout options: CPF Life offers two plan options: (a) the CPF Life Standard Plan — the level monthly payouts for the lifetime with the higher monthly amount and the lower bequest (the "residual sum" left for the beneficiaries), (b) the CPF Life Basic Plan — the lower monthly payouts with the higher bequest, drawing the payouts from the RA savings first (up to the age of 90) before the annuity pool kicks in.
  • CPF Life Escalating Plan: The third option — the monthly payouts start at the lower amount but increase by 2% per year. The escalating plan is designed to offset the inflation over the retirement period.

For example: a member with the FRS of SGD 205,800 at the PEA of 65 under the Standard Plan receives the estimated monthly payout of approximately SGD 1,620 to SGD 1,800 for the lifetime. The exact payout amount depends on the age, the gender, and the prevailing interest rates at the time of the payout commencement.

CPF Retirement Sum — BRS, FRS, and ERS for 2026

  • Basic Retirement Sum (BRS) — SGD 102,900: The BRS is the minimum retirement sum required to receive the basic monthly payouts. The member with the BRS at the age of 55 receives the estimated monthly payout of approximately SGD 810 to SGD 900 under the CPF Life Standard Plan. The member may pledge the property (the "property pledge") to use the BRS instead of the FRS.
  • Full Retirement Sum (FRS) — SGD 205,800: The FRS is twice the BRS and represents the full retirement sum target. The member who sets aside the FRS at the age of 55 receives the estimated monthly payout of approximately SGD 1,620 to SGD 1,800. The FRS is the default retirement sum for the members aged 55 in 2026.
  • Enhanced Retirement Sum (ERS) — SGD 308,700: The ERS is three times the BRS and is the maximum retirement sum that the member may voluntarily top up. The ERS is available to the members who wish to receive the higher monthly payouts. The ERS top-ups receive the additional interest rate of 1% per year on the first SGD 60,000 of the combined CPF balances.

The Retirement Sum (the "RS") is adjusted annually by the CPF Board based on the long-term inflation and the wage growth. The RS for the cohort turning 55 in 2026 is SGD 205,800 (the FRS).

Retirement Account (RA) and Payouts

  • Retirement Account creation at age 55: When the CPF member turns 55, the CPF Board creates the Retirement Account (the "RA") by transferring the savings from the OA and the SA to meet the retirement sum. The OA savings are transferred first, followed by the SA savings. The member may choose to withdraw any CPF savings above the FRS at the age of 55.
  • Payout eligibility age (PEA) — 65: The payouts from the CPF Life and the RA start at the PEA of 65. The member may choose to defer the payouts up to the age of 70. The deferred payouts earn the "extra interest" of up to 1% per year (the "deferment bonus") for each year of the deferral beyond the PEA.
  • Monthly payout calculation: The monthly payout is calculated based on: (a) the RA savings at the PEA, (b) the CPF Life plan chosen, (c) the prevailing interest rates (the "CPF RA interest rate" — the 12-month average of the CPF SA rate, currently approximately 4.08% per year), (d) the age and the gender. The payouts are adjusted every 3 years for the inflation.

The CPF members may use the "CPF Retirement Payout Calculator" at cpf.gov.sg to estimate the monthly payouts based on the RA savings, the chosen plan, and the PEA. The CPF Board provides the comprehensive online tools and the retirement planning resources at the cpf.gov.sg website.

Related Guides

Lithuania Pension Guide 2026 — Three Pillars, Retirement Age 64.5/64Lithuanian pension system for 2026. Three-pillar system (PAYG, funded, voluntary), retirement age 64 years 6 months (men) / 64 years (women), Sodra benefits, and tax relief.Pension and Retirement Taxation in EritreaA comprehensive guide to pension and retirement taxation in Eritrea, covering contributions, withdrawals, state pensions, and tax-efficient retirement planning.How Much Money Do You Need to Retire at 40?Calculate your FIRE number to retire at 40 — 4% rule, your annual spending, SWR, healthcare costs, and portfolio size needed for early retirement.Uruguay Pension Guide 2026 — BPS Pay-As-You-Go, AFAP Individual Accounts, Mixed Systemthe Uruguayan pension system. BPS public pay-as-you-go pillar, AFAP private individual capitalization accounts, mixed system, retirement age 65 men / 60 women, contribution requirements, and benefit cBahrain Pension Guide 2026 — SIO Pension & End-of-Service GratuityBahrain pension: SIO old-age pension at 60, end-of-service gratuity for expats, Sandeel unemployment insurance.How Much Money Do You Need to Retire Early? (FIRE Guide)Calculate how much you need to retire early using the 4% rule, FIRE calculator, and real examples — $500K, $1M, or $2M?
Browse all guides →