Retirement Plans
What are Retirement Plans?
Retirement Plans, often referred to as Annuity Plans, are crafted to complement CPF Life by offering you a steady monthly income throughout your retirement years.
Retirement Plans typically require payments over a selected period (such as a Single Premium, or over 5, 10, 15, or 20 years) and will begin providing guaranteed income payouts as well as potential bonuses at your chosen retirement age for a specified duration or for a lifetime.
Many Retirement Plans also include Disability Coverage during the income payout years, offering extra protection against unexpected disabilities that often occur in old age. Riders can also be added to the Retirement Plan for additional coverage like Premium Waiver in the event of Critical Illness.
Additionally, Retirement Plans include a Death Benefit, ensuring that any remaining unpaid monthly income will be provided to your beneficiary. This guarantees a legacy for your loved ones in the event of your passing during retirement.
Compare Plans
Premium Term: Single Premium, 5, 10 or 15 Years
Funds: Cash
Income Payout Years: 10, 20 or 30 Years
Disablity Benefit: 24 months Guaranteed Monthly Income (GMI)
Unique Feature: Competitve Premiums, High Non-Guaranteed Income
Premium Term: Single Premium, 5, 10, 15, 20 or 25 Years
Funds: Cash or SRS
Income Payout Years: 5 to 35 Years
Disablity Benefit: 2X Guaranteed Monthly Income (GMI)
Unique Feature: Competitve Premiums, High Guaranteed Income
Premium Term: Single Premium, 5, 10, 15, 20 or 25 Years
Funds: Cash or SRS
Income Payout Years: 5, 10, 15, 20 Years or Lifetime
Disablity Benefit: Up to 2X Guaranteed Monthly Income (GMI)
Unique Feature: Pays additional 50% GMI upon failure to perform 2 out of 6 ADLs, Retrenchment Benefit
Premium Term: Single Premium, 5, 10, 15, 20, 25, 30 or 35 Years
Funds: Cash
Income Payout Years: 10, 20 Years or Lifetime
Disablity Benefit: Waiver of Premiums or 50% Guaranteed Monthly Income (GMI)
Unique Feature: Retrenchment Benefit
Premium Term: 2, 5 or 10 Years
Funds: Cash
Income Payout Years: 10 or 20 Years
Disablity Benefit: N.A.
Unique Feature: Choice of Escalated Payout to Fight Inflation
Premium Term: 5, 10, 15 or 20 Years
Funds: Cash
Income Payout Years: 10, 20 or 30 Years
Disablity Benefit: N.A.
Unique Feature: Major Cancer Benefit (12x GMI Payable), Retrenchment Benefit
Sample Premiums
$1000 Guaranteed Monthly Income (20 Years Payout)
Age 35
Premium Term: 10 Years
Retirement Age: 65 Years Old
| Insurer | Annual Premium |
|---|---|
| China Taiping i-Retire (II) | $13,593 |
| Singlife Flexi Retirement II | $13,184 |
| Manulife RetireReady Plus III | $17,244 |
| NTUC Income Gro Retire Flex Pro | $15,792 |
| Etiqa Enrich Retirement | $17,160 |
| China Life Prosperous Retirement | $20,000 |
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