Singapore CPF Retirement Calculator

How CPF Contributions Work in Singapore

The Central Provident Fund (CPF) is Singapore's mandatory savings system. Every month, both you and your employer contribute a percentage of your salary to your CPF accounts. The contribution rate depends on your age. For employees aged 35 and below, the combined rate is 37% of monthly wages: 20% from the employee and 17% from the employer. This rate gradually decreases as you get older, reflecting the recognition that older workers may prefer more take-home pay. By age 61–65, the combined rate is 17.5%. The monthly contributions are split across three accounts: the Ordinary Account (OA) for housing and education, the Special Account (SA) for retirement savings, and MediSave (MA) for healthcare. Contributions are calculated on wages up to the CPF Ordinary Wage Ceiling of SGD $6,800 per month in 2025, rising to SGD $8,000 by 2026 under the phased increases announced by the government.

Understanding the Retirement Sums — BRS, FRS, and ERS

When you turn 55, CPF sets aside funds from your OA and SA into a new Retirement Account (RA). The amount set aside determines which retirement sum tier you meet, and this drives your CPF LIFE monthly payout at 65. The three tiers in 2025 are: the Basic Retirement Sum (BRS) at SGD $106,500, the Full Retirement Sum (FRS) at SGD $213,000, and the Enhanced Retirement Sum (ERS) at SGD $426,000. Meeting the BRS gives you an estimated monthly payout of SGD $900 to $1,000. Meeting the FRS gives approximately SGD $1,600 to $1,800 per month. Meeting the ERS gives approximately SGD $2,900 to $3,300 per month. These payouts continue for life under the CPF LIFE annuity scheme. The FRS increases each year by roughly 3.5% to keep pace with inflation and rising cost of living, so starting contributions early is essential to reaching the target sum. This calculator uses 2025 FRS figures as the benchmark.

Interest Rates on Your CPF Accounts

Your CPF savings earn guaranteed interest set by the government. The Ordinary Account earns 2.5% per annum, and the Special Account earns 4.0% per annum. An extra 1% interest is paid on the first SGD $60,000 of combined CPF balances, with the SA being prioritised for this extra interest. Additionally, members aged 55 and above earn an extra 2% on the first SGD $30,000 of their combined balance. This compounding effect is powerful over a long investment horizon. A 30-year-old who starts with zero balances and earns a salary of SGD $5,000 per month could accumulate well above SGD $300,000 in CPF by age 55, assuming no withdrawals for housing. The SA's 4% rate makes it one of the best risk-free returns available in Singapore, which is why financial planners often recommend the CPF SA Shielding strategy and Retirement Sum Topping-Up Scheme (RSTU) for those who want to accelerate retirement savings.

CPF LIFE and Your Retirement Income

CPF LIFE (Lifelong Income For the Elderly) is a national annuity programme that converts your Retirement Account savings into a guaranteed monthly income from age 65 for the rest of your life. You are automatically enrolled if you have at least SGD $60,000 in your RA at 65. There are two plans: the Standard Plan provides higher monthly payouts with a smaller bequest, and the Basic Plan provides lower payouts but preserves more funds for your estate. The payout amount projected by this calculator is based on the Standard Plan. Because CPF LIFE pays until death, it insures you against the risk of outliving your savings — a crucial consideration given Singapore's life expectancy of around 83 years. For those who wish to receive higher payouts, topping up the RA to ERS level significantly increases monthly income and provides greater financial security in old age.