CPF Basic Retirement Sum Growth Projections beyond 2027 and Potential Five-Year Advance Planning Timeline

27 Mr Shawn Loh asked the Minister for Manpower (a) what is the expected growth of the CPF Basic Retirement Sum beyond 2027; and (b) whether the Government can release the CPF Basic Retirement Sum at least five years in advance so that Singaporeans can plan ahead.

Dr Tan See Leng: The Central Provident Fund (CPF) Basic Retirement Sum (BRS) provides CPF members with monthly payouts that cover basic expenses in retirement. The Government regularly reviews the BRS for each cohort of members turning age 55, taking reference from the lower-middle retiree household expenditure and factoring in inflation and rising standards of living.

In 2022, the Ministry of Manpower announced the BRS for members turning age 55 from 2023 to 2027. The announcement was made ahead of time to give members advance notice. We are reviewing the BRS for members turning age 55 after 2027 and will likewise announce any changes with sufficient advance notice to enable members to plan ahead.