How much I get since CPF delayed to 70?

September 26, 2017

Why did they just ignore my request for knowing the real reason behind the delay of my CPF payouts?

I queued at the CPF Board at Bishan this morning (26 September) to ask “Since I have received your letter informing me that my monthly payout which is supposed to start at age 64, has been automatically deferred to start at age 70, unless I request otherwise – what is the higher payout that I will get from age 70?”

The staff’s answer:

“We can’t tell you the amount because it’s a projection.”

Then I followed up with another question: “But if I wait 6 more years to start my payouts I would need to know how much more right?”

She looked at her computer terminal again and replied: “the amount is the same – just that it would last longer for more years”.

But the letter I received says I will get more, the later I delay my payout to 70, 69, 68, 67, 66, 65 and 64?

Leong Sze Hian

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.