atans1

More on 85 being the new CPF Life payout date

In CPF, Financial competency, Financial planning on 06/07/2018 at 10:53 am

In Akan Datang: Why CPF Life payments will begin at 85, I “explained” why the PAP was planning to move the CPF Life start date to 85: Many S’poreans would be dead by then because 85 is 2.4 years above the average S’porean life expectancy rate of 82.6 yrs.

Seriously, two points to note on why there’ll be a move to up the age when CPF Life starts paying out (Remember the default age is now 70:CPF Life: How withdrawal age “moved” to 70)

When ang moh countries introduced state old age pensions: example when UK introduced state pensions in 1908, the retirement age, 70 for both men and women, was well above average life expectancy.

And then there’s the issue of accelerated ageing where S’pore is among those top of the class.

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