30 May '15, 9am

Tea with EY: Is our CPF LIFE payout going to be sufficient?

It has been a while but here is another wonderfully crafted guest blog by EY as she asks some questions which we might be afraid to ask ourselves: Is having a CPF LIFE payout of $2500/month sufficient? Which do you prefer? Let your desired quality of life determine your retirement sum? or Let your retirement sum determine the quality of your life? In Singapore, quality of life does not come cheap. More so if we are projecting decades into the future. Based on 3% annual inflation rate, what we can buy with $2500 today will cost us $5234 in 25 years’ time, $6068 in 30 years’ time, and $8155 in 40 years’ time. Those of us intending to depend solely on CPF LIFE payout for retirement should do a reality check. Even in the case where we could set aside the Enhanced Retirement Sum (ERS) which is 3 times the …

Full article: http://thefinance.sg/2015/05/30/tea-with-ey-is-our-cpf-li...

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