20140722 CPF(no)Life scheme – 18% CPF members aged above 55 dead before reaching 65

Is the CPF Life scheme for the living? According to ICA statistics, the answer is clearly ‘no’. Every year, almost 3000 Singapore residents above 55 will be dead before they can even receive one cent from their monthly payout at 65. (a negligible number in ICA statistics are non-residents)

(Table 39, page 59), *correction – pg 68

And out of the total of 16,213 aged 55 and above in 2013:
23% or 3,870 aged between 65 and 74 will only be able to spend their CPF installments between 1 day and 10 years.

55 – 59 1300 8.0%
60 – 64 1636 10.1%
65 – 69 1704 10.5%
70 – 74 2166 13.4%
75 – 79 2461 15.2%
80 – 84 2649 16.3%
85 & over 4297 26.5%
TOTAL 16213 100.0%

The 32% who die between the age of 75 to 84 may seem luckier. But think again – why are we unable to enjoy the fruits of our labour at an earlier age with friends and loved ones when we are in a better emotional, mental and physical state? How did we end up with the PAP trampling over our rights to OUR money?

Since the PAP has forced our CPF savings into the GIC and paying us non-guaranteed monthly installments, it has effectively dictated to us how/when our money should be spent. No deserved holiday/pilgrimage after slogging away for decades nor are we allowed to use OUR savings for children’s tertiary education or other NEEDS.

As for the remaining 27% octo/nonagenarians and centenarians, what can they use the monthly dribs and drabs for? Upgrading walking sticks or hearing aids?


Thousands of CPF members die every year before they could receive even a single payout from CPF Life at 65. A large number who receive their monthly installments may be frail by then and can only engage in limited activities. The PAP did not consult citizens on such a scheme and clearly it does not serve the living. Shouldn’t the scheme be renamed ‘CPFnoLIFE’?

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1 Response to 20140722 CPF(no)Life scheme – 18% CPF members aged above 55 dead before reaching 65

  1. That is a really good tip particularly to those new
    to the blogosphere. Short but very accurate information… Many thanks
    for sharing this one. A must read post!

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