CPF's Retirement Sum Scheme payouts to last till 90 years old, instead of 95

to last until 90 years old, instead of the existing age of 95, following a review by the Ministry of Manpower and the Central Provident Fund Board.

Following the review, the RSS payout duration will be shortened to last up to 90 years old, she told the House. These changes will take effect next year.All RSS members who turn 65 from Jul 1, 2020 will automatically be on the new payout rules. Taking into account the 4 per cent base interest rate on the savings that one has in the Retirement Account, the RSS payouts are designed to last up to 20 years from the payout eligibility age.

These two schemes were aimed at stretching the payouts beyond the usual 20 years and up to 95 years old, so as to protect CPF members from outliving their RSS payouts, said Mrs Teo.But this will be adjusted following the review to adjust the payout duration to 90 years old at most. This is because the extra interest that was earlier used to extend their RSS payouts beyond age 90 will now be used to increase their monthly payouts instead.

Not sure how to survive with $400-500 per month 🤔

Can live still 70’s something is good enough. Not all can live up to 90 y/o.

Die early folks, or die miserably

Why payout only start at 60, it should start immediately once the Retirement Account created at 55.

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