How much in total income they have from age 65 varies by what they have in CPF and whether they buy annuities
LAST month, I wrote about using private annuities (PA) alongside CPF Life to build a safe retirement-income portfolio. That sparked active discussion on social media.
Some said that since CPF Life already offers the best payout-per-dollar premium in Singapore, you should simply top up your Retirement Account (RA) to the Enhanced Retirement Sum (ERS), so there is no need for a PA.
Others said that a substantial Ordinary Account (OA) balance could simply be drawn down over a fixed period, much like an annuity, to complement CPF Life.