Will you receive a higher CPF payout if you defer monthly payouts to age 70? Letter says one thing, staff says another


Social commentator Mr Leong Sze Hian recently received a letter from the Central Provident Fund (CPF) Board stating that the monthly payouts from his CPF account, which were supposed to start being disbursed to him from the time he turns 64, has automatically been deferred to start when he turns 70 instead – unless he requests otherwise.

The letter also reportedly indicated that the later he defers his payouts to, the higher the amount of each payout will be. This would mean that more funds from his CPF account would be disbursed to him if he chooses to begin receiving his monthly payouts at a later age.

However, when Mr Leong visited the CPF branch in Bishan to clarify what will be the higher payout he will receive if he defers his payouts to begin from the age of 70, he was allegedly told by a staff member that she could not reveal the amount to him “because it’s a projection.”

When he questioned the staff once again, requesting that he needs to know since he would potentially be deferring his payments for an additional six years, the staff appears to have told him that there is no higher payout, but that the amount in his account would last him longer.

This is apparently contrary to the letter he received, according to Mr Leong who recounted the exchange in a blog post:

“I queued at the CPF Board at Bishan this morning (26 September) to ask “Since I have received your letter informing me that my monthly payout which is supposed to start at age 64, has been automatically deferred to start at age 70, unless I request otherwise – what is the higher payout that I will get from age 70?”
“The staff’s answer: “We can’t tell you the amount because it’s a projection.”
“Then I followed up with another question: “But if I wait 6 more years to start my payouts I would need to know how much more right?”
“She looked at her computer terminal again and replied: “the amount is the same – just that it would last longer for more years”.
“But the letter I received says I will get more, the later I delay my payout to 70, 69, 68, 67, 66, 65 and 64?”

So which is it? Do you receive higher payouts if you defer disbursements to a later age? Or is the amount of the payout the same? Misinformed staff or misleading letter?


  1. CPF as I often said is a scam, most probably a Ponzi scheme. You are encouraged to defer receiving payout as it saves the Govt from emptying the kitty too quickly.

    • maybe kitty has been empty liao lor if not why changed payout age. with all minister getting rock sky pay with gov investments I think money not enough to payout so must defer the age to take out also hoping that ppl die liao no need to give out also.

  2. Deferment to receive payout at 70 should be the option (formal request required at 64) and not automatic if no formal request is made at 64. It appears to be the other way round. This will be less of a hassle and confusing for us on reaching 64/65. Personal opinion – As it is many are not convinced of the benefits of the minimum sum scheme and the payouts 10 years later and would rather receive all their remaining CPF at 55.

  3. Getting arrogant . Ask them what time a GIRO deduction happens and the reply is “We can’t tell you “ …. after millions of transactions done, they can’t ….


  5. Only fools n idiots will trust them to keep their CPF. Right minded people will quickly draw everything available out before they keep shifting the CPF goal post.

  6. Take out your hard earned life savings, don’t wait, this is your sweat money you never know if you can live the next day to enjoy your retirement. The leeches govt suka suka change the polices anytime, ministers get paid themselves millions $ at their will but set your withdrawal age limit to get your $ back. This what you get for voting them, thanks to 70 %.

  7. @Leong Sze Hian
    Lots of events happening in my big extended family!
    In October 2013, my second mother died of lung cancer, then his son living with him in 3 room flat, died of lung cancer at age 56 on January 2014, my 4th brother died of esophagus and stomach cancer in September 2014at age 64, then in April 2015, my 3rd brother died of colon cancer at age 68 !
    Please open your eyes to read my blog at least 3 times!
    Now, HDB is selling the retirement studio to senior citizens, assuming that all Singaporeans live till age 95, I appeal to MP of WP to get HDB to sell the retirement studio till age 70, anybody live longer, can apply for extension of rent the studio!
    Fancy paying the studio till age 95 is cheating Singaporeans of our retirement funds!
    How to have Swiss standard of living when your retirement cash is locked in CPF ???
    The holy truth is that how many oppressed citizens of Singapore can live up to ripe old age ???
    If you don’t need so much cash for your retirement, then please bring the cancer survivors for holidays or give them supermarket vouchers
    Certainly, you will be blessed by your good deeds instead of keeping your money at CPF!
    Just happen to read the China news that criticise our political leaders as saying one thing but do another thing! They wear different hats to suit different people and never put into practice what they preach, especially they never show any compassion to the sick and suffering citizens who live alone, especially the singles but they collect 29 layers of taxes from the singles at large!!!
    Do you know that many senior survivors have a hdb roof but no cash to withdraw from CPF ???

    • HDB officers said their policies based on all Singaporeans are entitled to live till 95 so on the time of studio BTO, if you are 62, then you have to pay 35 years rentals in advance but even rich tycoon who eat lots of fresh organic fruits and vegetables will not live up to 95 !!!
      They are unreasonable robbers

  8. Take out as early as possible!
    It will lesser if you delay ~ more retirees with lesser working individuals contributing means your payout will be much lesser!

  9. Some people it would seems received a different letter from CPF. My friend received a letter informing him that payout would start on his birthday month and would last until death and that he could opt to defer payment until 70 by completing and submitting an attached form or going online. No automatic deferment though the incentive of ‘increase monthly payout of up to 7% more for every year of deferment’ is very ambiguous. Does that means that he would get up to 42% (7×6) more in monthly payout if he agrees to defer until he is 70?

  10. If the govt wants to keep the money..it will do so in all ways possible and setup facebook and wat not help sites to explain rubbish..using taxpayer money.

  11. The continuing shifting of the policies gives me the impression the country is broke. IMHO, I seriously doubt there is sufficient cash for the traditionalist and baby boomer generations since thereafter the birth rate has seriously declined due to some stupid policy. By deferring the age withdrawal and meddling with the types of payout speak volumes of a country mired in financial ruin.

  12. Look … the pappies are using 2 tools to delay paying out our CPF. First is the extension of the withdrawal age limit and second is the minimum sum requirement. So by adjusting any of these components, we are not able to withdraw our hard earn money for life. Even if you want to give up your citizenship by getting back the full CPF amount for one lump sum are compromise because by then no country will want to admit us to be their citizen due to our old age. So we are stuck forever!

  13. Where’s my CPF gone (Where’s my CPF gone)
    Where’s my money gone (Where’s my money gone)
    Where’s my nest egg gone (Where’s my nest egg gone)
    Far far away
    Far far away
    Last night I heard my piggy singing a song
    Ooh-We, Chirpy Chirpy Cheep Cheep
    Woke up this morning and my treasure was gone
    Ooh-We Chirpy Chirpy Cheep Cheep
    Back to chorus (Adapted from Middle Of The Road)

Comments are closed.