Should I start my CPFLife Payout at age 65 or delay till age 70?

Should I start my CPFLife Payout at age 65 or delay till age 70?

Here is my answer:

 1. Compare:

* BASIC Plan RA payout at 65yo vs
* Delayed BASIC Plan RA payout to age 70-yo.

2. The Payout is based on CPFB provided RA Payout Estimator at age 65 and delayed at age 70. Hence more acccurate.

3. My CPFLife payout at age 65 will be $2150 p.m.
If I delay my CPFLife payout till age 70, my payout will be $2,870 p.m.

Above are based on BASIC Plan payouts.

4. I tabulate the combined payouts; and find that the delayed payout at age 70 will only catch-up at age 84 with those who starts payout at age 65.

5. Breakeven for Delayed Payout at age 70, with Payout at age 65, is at age 84. (comparing BASIC plan and BASIC plan payout.  Not BASIC n STD Plans)

~~~~

6. Actually I have a legal way to better-er to beat the payout system, even if I withdraw at age 65.  Beat the BASIC age70 payout for life and for bequest.

7. I shared the strategy with my colleagues who early wanted to withdraw at age 70; but decided to follow my recommended approach to withdraw at age 65.


Want to find out my strategy?  Just telegram me?


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