For members turning 55 before 1 July 2015, we will send you a letter to choose your CPF LIFE plan one month after your 55th birthday. You have six months to choose your plan. If you do not choose a plan, we will place you on the CPF LIFE Standard Plan.

Now choose CPF Life plan at age 65?

From January 2016, members will only need to choose their CPF LIFE plan from their payout eligibility age “(age 65 up to 70)” at the point when they wish to start their CPF LIFE payouts.”

Higher bequest at 65 since RA transfer at 65 instead of 55?

So, does the above mean that those who die between 55 and 65 will now get the same amount (Retirement Account (RA) balance plus accumulated interest), since the RA is now only transferred to the CPF Life (Standard Plan) pool at 65 instead of at 55 previously?

50% increase in bequest at age 65?

If so, based on the Basic Retirement Sum (BRS) of $80,500 – will this effectively increase the bequest at 65 by about 50 per cent from about $82,500 (previously transfer at 55) to $123,000 (transfer at 65 now)?

Why no corresponding higher bequests after 65?

In view of the above, why does the CPF Life Estimator calculator still show for those turning 55 after 1 January 2016 – similar “low” bequests (like previously) of $978 – $1,034 at age 75 and 0 at age 85?

Shouldn’t the bequests be much higher now that the transfer of the accumulated RA to the CPF Life pool is only done at say age 65, instead of 55 previously?

Leong Sze Hian