The Retirement Sum Scheme provides CPF members with a monthly income to support a basic standard of living during retirement.

To better mitigate longevity risks, the CPF LIFE Scheme was introduced in 2009 which provides a monthly income for as long as you live. You will be placed on CPF LIFE if you are a Singapore Citizen or Permanent Resident born in 1958 or after, and have the following Retirement Account balances: