38.9% who died age 69 and lower?

July 18, 2014

Our CPF Insider, ES, alerted us to the Immigration and Checkpoints Authority’s (ICA) Report on Registration of Births and Deaths 2013.http://www.ica.gov.sg/data/resources/docs/Media%20Releases/SDB/Annual%20RBD%20Report_2013.pdf

38.9% who died age 69 and lower?

According to the report, of the 18,938 deaths registered last year, 11573 or 61.1 per cent were aged 70 and over.

So, does it mean that 38.9 per cent of those who died last year, were age 69 or below?

“The average age at death (AA in short), measured by the median was 74.9 years.”

Since the average (AA) for males is 72, which is 7 years shorter than females – what is the percentage of male CPF Life members relative to females?

CPF Life bequests?

What are the implications of these statistics for the CPF Life scheme?

According to the CPF Board’s CPF Life Estimator calculator, the estimated monthly life annuity from age 65 is $1,232 – $1,365 for a male who meets the current CPF Minimum Sum of $155,000.

https://www.cpf.gov.sg/cpf_trans/ssl/financial_model/lifecal/Life_Estimator.asp

The bequest for death at age 65, 75 and 85, are $190,565 – $195,731, $42,958 – $45,390 and 0, respectively.

S Y Lee and Leong Sze Hian

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About the Author

Leong
Leong Sze Hian has served as the president of 4 professional bodies, honorary consul of 2 countries, an alumnus of Harvard University, authored 4 books, quoted over 1500 times in the media , has been a radio talkshow host, a newspaper daily columnist, Wharton Fellow, SEACeM Fellow, columnist for theonlinecitizen and Malaysiakini, executive producer of Ilo Ilo (40 international awards), Hotel Mumbai (associate producer), invited to speak more than 200 times in about 40 countries, CIFA advisory board member, founding advisor to the Financial Planning Associations of 2 countries. He has 3 Masters, 2 Bachelors degrees and 13 professional  qualifications.