Planning Your Retirement with CPF.

As you approach 55 years old, you may wonder how your CPF savings will provide for your retirement needs. When you turn 55, a Retirement Account will be created for you using savings from your Special Account, followed by your Ordinary Account to form your retirement sum. Your retirement sum will provide you with a monthly income in old age. Under the CPF Lifelong Income for the Elderly (CPF LIFE) scheme, a life annuity scheme, you can receive monthly payouts for as long as you live.