CPF LIFE, Silver Support and senior payouts in Singapore 2026. See amounts, eligibility

Singapore’s 2026 senior payout framework combines lifelong CPF income, quarterly cash support, and healthcare subsidies. Understanding how each scheme works is essential to avoid missing higher payouts.

2026 Senior Payout Snapshot

Scheme	Payout Type	Frequency	Lifetime Payout	Estimated Amount (2026)
CPF LIFE	Annuity	Monthly	Yes	S$1,500–S$2,500+
Retirement Sum Scheme (RSS)	Savings Drawdown	Monthly	No	Based on RA balance
Silver Support Scheme	Social Assistance	Quarterly	While eligible	S$900–S$1,080
Workfare Income Supplement	Income Support	Annual	While working	Variable (up to several thousand SGD)

1. Singapore’s CPF Retirement Framework

Singapore’s retirement system is anchored by the Central Provident Fund Board.

At age 55, CPF savings are transferred into a Retirement Account (RA). The amount set aside determines future payouts.

Retirement Sums (2026 Framework)

• Basic Retirement Sum (BRS) – For members who pledge property
• Full Retirement Sum (FRS) – Standard benchmark
• Enhanced Retirement Sum (ERS) – For higher monthly payouts

Higher sums translate directly into higher monthly income from age 65.

2. CPF LIFE (Lifelong Income For the Elderly)

CPF LIFE provides guaranteed monthly payouts for life, regardless of lifespan.

CPF LIFE Plans (2026)

• Standard Plan – Higher payouts, moderate bequest
• Basic Plan – Lower payouts, larger bequest
• Escalating Plan – Payouts rise 2% annually

Estimated Monthly Payouts

Members setting aside the Full Retirement Sum (FRS) in 2026 may receive:

S$1,500 – S$1,800 per month
(Varies by plan, gender, and payout start age)

Those increasing to ERS may receive S$2,500+ monthly.

Delaying Payouts

Deferring payouts beyond age 65 increases monthly income by up to 7% per year, up to age 70.

For seniors still working, this is one of the most effective strategies to maximise lifetime retirement income.

3. Retirement Sum Scheme (RSS)

Retirement Sum Scheme applies mainly to members born before 1958.

Key differences from CPF LIFE:

• No lifetime guarantee
• Payouts stop once RA savings are exhausted

Most eligible members today are automatically placed under CPF LIFE unless exempted.

4. Silver Support Scheme

The Silver Support Scheme provides quarterly cash support for seniors with low lifetime earnings.

Eligibility (General Criteria)

• Age 65 and above
• Low CPF contributions
• Living in 1–5 room HDB flats
• Limited household income

Payouts in 2026

Eligible seniors may receive:

S$900 to S$1,080 per quarter

Assessment is automatic — no application required.

5. Workfare Income Supplement (WIS)

Workfare Income Supplement supports older Singaporeans in lower-wage employment.

Benefits include:

• Cash payouts
• CPF top-ups
• Higher support rates for seniors

In 2026, eligible seniors may receive several thousand SGD annually, depending on income level.

6. Healthcare Subsidies for Seniors

Healthcare costs can significantly affect retirement adequacy.

Key support measures include:

• Pioneer Generation Package
• Merdeka Generation Package
• CHAS subsidies
• MediShield Life premium subsidies

These reduce out-of-pocket medical expenses and protect CPF savings.

7. HDB Lease Buyback Scheme (LBS)

The Lease Buyback Scheme, administered by the Housing & Development Board, allows seniors to monetise part of their flat’s lease.

How It Works

• Sell remaining lease years back to HDB
• Proceeds top up CPF Retirement Account
• Receive higher CPF LIFE payouts

This benefits retirees who are asset-rich but cash-constrained.

Strategies to Maximise Retirement Income in 2026

1. Top Up Your Retirement Account

• Cash top-ups (eligible for tax relief)
• CPF transfers from Special Account

2. Increase to ERS

Setting aside ERS can raise payouts to S$2,500+ per month.

3. Delay CPF LIFE to Age 70

Each year of delay increases payouts by up to 7%.

4. Use the Supplementary Retirement Scheme (SRS)

The Supplementary Retirement Scheme offers tax-deferred savings that supplement CPF income.