[RichDad]

I really think a much simpler scheme is best for people ...an annuity scheme has to be Conservative so they need to keep reserves, buffers and contingencies. ...they end up using your money to do this.

For a person with upwards of 250K at 55....it grows to above 385k by age 65 in CPF SA. This can give a decent steady payout until around 100 yo. If you go early the bequest is superior because you don't need to contribute to common pool.

Unfortunately CPF Life is compulsory. ..so to optimise your finance. Opt for basic to minimise participation. Rest of it leave in CPF SA.

The govt wants CPF Life to have a scheme to stretch the money to beyond 98yo so they don't have to budget and have another financial assistance scheme in place for those who go above that.

But the reality is not so simple due to inflation. $1600 ...25yrs from now will feel more like $800...one cup or Kopi will be $220..mee rubus will be $6.

Those with $1.5M will keep part in stocks, some in SA ...some in 2nd property to try to hedge against all situations.

Depending on how much you have...your retirement  finances are always at risk if you don't have enough to hedge away the risk.

No SA anymore. All merged into RA