[SINGAPORE] Financial advisory firm MoneyOwl has rolled out a retirement income planning tool, the OwlRetirement Planner, to help Singaporeans assess how ready they are to retire and what gaps need to be addressed.
The tool brings together assets in Central Provident Fund (CPF) accounts – the Ordinary Account, Special Account and MediSave – as well as cash and investments to help users visualise how long their assets can generate income in retirement.
The planner uses the firm’s “sufficiency, safety and flexibility” framework, which redefines retirement adequacy beyond a dollar target.
The framework’s premise is that reaching a dollar target in retirement savings is only part of the equation. Just as important is to have a plan to ensure that as one begins to draw on the assets for income, it would last as long as possible while still being able to cushion risks and adapt to unexpected needs.
Chuin Ting Weber, MoneyOwl CEO and chief investment officer, said the firm seeks a holistic approach to the challenge of retirement adequacy. “… we ask whether income is sufficient throughout life, keeps pace with rising costs and provides the safety and flexibility people need.”
“This brings two often-underestimated risks into focus: outliving one’s retirement resources and having too little readily available cash to meet unexpected large expenses.”
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The framework puts CPF Life at the foundation of retirement income planning, “because it provides dependable lifelong income for essential, non-negotiable expenses”, said Weber.
Life expectancy in Singapore is among the highest in the world and continues to rise. In 2025, the average life expectancy at birth was age 81.1 for males and 86 for females. Those who reach 65 can expect to live another 21.6 years to 86.6 on average. Among these, 31 per cent of males and 46 per cent of females can expect to live past 90.
Essential, non-negotiable expenses and resources
The tool simulates the impact of various financial actions, such as delaying retirement and the payout age of CPF Life, as well as investment rates of return.
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Weber said that for essential, non-negotiable expenses, which include payment of health insurance premiums, “sufficiency and safety come first”.
“We then consider how other resources can support additional lifestyle spending, while keeping funds accessible for unexpected needs. A resilient retirement plan sets clear priorities and matches resources to needs, bringing sufficiency, safety and flexibility together.”
She said the tool aims to give Singaporeans “the clarity and confidence to weigh these trade-offs and make informed choices to strengthen their retirement security”.
The tool’s key features include a consolidated view of CPF balances, cash savings and investments at the desired retirement age and projections of retirement income and a drawdown plan. It generates a score according to the three dimensions of sufficiency, safety and flexibility.
The tool will be incorporated into MoneyOwl’s retirement planning workshops for companies and individuals.
The OwlRetirement Planner is free and available at https://www.moneyowl.com.sg/tools-calculators/owlretirement-planner.