CPF Retirement (How much do you need?)

How much do you need to fulfill the minimum CPF retirement sum?

This is always a question that revolves around a Singaporean conversation.

So let's take a look at how much is required?

For members who turn 55 in 2020, their Basic Retirement Sum (BRS), Full Retirement Sum (FRS) and Enhanced Retirement Sum (ERS) are $90,500, $181,000 and $271,500 respectively

https://www.straitstimes.com/singapore/manpower/cpf-basic-retirement-sum-should-be-regularly-adjusted-so-payouts-keep-pace-with

I have done this chart below in 2017 when i was 30yr old to estimate the retirement sum when I reach 55 years old with an incremental of 3%. Comparing to the current year 2020, inflation is in line with the CPF BRS, FRS, and ERS. 

Since I am planning for retirement, it is very important that one must know where is the finishing line (How much is required). 

The game plan is by 55 years old, I am able to work back how much cash I am able to draw from my CPF in relation to which retirement sum I would like to opt for. 

In my plan, I would like to opt for the FRS at $346,815, and whatever excess from my CPF I will be able to draw out in cash. 

So now, with an end in mind. A proper plan can be put in place. 

CPF Retirement Sum (Estimated)
Incremental per year			3%
Age	Year	BRS	FRS	ERS
30	2017	$83,000	$166,000	$249,000
31	2018	$85,500	$171,000	$256,500
32	2019	$88,000	$176,000	$264,000
33	2020	$90,500	$181,000	$271,500
34	2021	$93,215	$186,430	$279,645
35	2022	$96,011	$192,023	$288,034
36	2023	$98,892	$197,784	$296,675
37	2024	$101,859	$203,717	$305,576
38	2025	$104,914	$209,829	$314,743
39	2026	$108,062	$216,123	$324,185
40	2027	$111,304	$222,607	$333,911
41	2028	$114,643	$229,285	$343,928
42	2029	$118,082	$236,164	$354,246
43	2030	$121,624	$243,249	$364,873
44	2031	$125,273	$250,546	$375,819
45	2032	$129,031	$258,063	$387,094
46	2033	$132,902	$265,805	$398,707
47	2034	$136,889	$273,779	$410,668
48	2035	$140,996	$281,992	$422,988
49	2036	$145,226	$290,452	$435,678
50	2037	$149,583	$299,165	$448,748
51	2038	$154,070	$308,140	$462,211
52	2039	$158,692	$317,385	$476,077
53	2040	$163,453	$326,906	$490,359
54	2041	$168,357	$336,713	$505,070
55	2042	$173,407	$346,815	$520,222