Is it a good option to extend elderly CPF Life to Age 70, if this elderly did not hit the basic retirement sum?

Hi Community,

My mum is currently age 64 y/o this year and next year she will be 65 y/o. My concern is as below:

1) If she did not hit the basic retirement sum next year will she still receive payout from CPF Life?

2) If yes to question 1, will she be able to choose the plans (basic, standard and escalate) to payout?

3) If she will to choose to push back the CPF Life payout at age 70 y/o, will it be benefited her? Since she unable to hit the basic retirement sum at age 65 y/o?

Appreciate community input and kind suggestion.

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Seedly Rookie

6d ago

You may top up her CPF RA and the governent will match dollar for dollar - the cap used to be $600 per year but from year 2025, the cap for governmrnt matching is raised to $2000 per year (up to a max over 10 years of $20,000) as long as BRS is not reached. Once BRS is reached, dollar for dollar matching by government will stop ...

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Seedly Rookie

6d ago

BRS / FRS / ERS amounts are just guideline figures fixed according to the year when one turns 55 years old. Our RA amount can be anything in between these figures but subjected to a min of $60k for CPF LIFE enrolment / withdrawal.

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cctzjd

7d ago

Own time own target at Self Employed

Good question...

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