The estimated monthly payout from age 65 , with $134,000 in minimum sum.
The above estimated payouts are based on (a) estimated LIFE premiums for members who turn 55 years old in 2013, (b) entry into the CPF LIFE scheme at age 55, and (c) an interest rate of 4% pa for the Minimum Sum, with an additional 1% pa extra interest on the first $60,000 of CPF savings.
With the CPFLife forward, retirement fund after age 65 is clearer.
So if one need to take it easy from age 55 to 65, one will then need to plan to cover this gap for the next phase of retirement.
I have written on a subject Timeline planning, if you click on this Timeline Planning, it will lead you to the topic on how you can plot your assets, savings and investment to check your plans forward and to then know at a glance where your gap is and to plan to cover the gaps.
I think by doing a simple exercise of drawing a timeline, one should be able to see how far they have planned for their retirement and where their assets are positioned.
