What is a CPF LIFE Bequest?
The CPF LIFE bequest refers to the amount of money that will be distributed to your beneficiaries upon your death, if you pass away before your CPF LIFE premium has been fully paid out via monthly payouts.
CPF LIFE is a national annuity scheme that provides lifelong monthly payouts to CPF members starting from their payout eligibility age (usually 65). You join CPF LIFE by using your CPF Retirement Account (RA) savings.
How is the Bequest Amount Calculated?
The bequest amount depends on two key factors:
Your CPF LIFE plan type – Standard, Basic, or Escalating Plan.
Your age at death – before or after receiving substantial payouts.
CPF LIFE uses your Retirement Account (RA) savings to purchase a LIFE annuity. After joining, your funds are split into:
A lifelong annuity premium, which is transferred to the Lifelong Income Fund.
A RA balance, which continues to earn interest until fully used.
✅ If you pass away before age 65 or before starting CPF LIFE payouts:
Your full RA savings (including any interest earned) will be distributed to your beneficiaries.
✅ If you pass away after starting CPF LIFE payouts:
Your bequest consists of:
Any unused RA savings (not yet deducted for monthly payouts).
Any residual premium balance (depending on how much of the annuity premium has been "used up").
Accrued interest on the unused RA balance depending on the plan you selected.
Once you’ve received payouts equivalent to your CPF LIFE premium, the bequest reduces significantly. The longer you live, the lower the potential bequest — this is because the plan is designed to provide lifelong income, not to preserve capital.
Does the CPF LIFE Bequest Include Accrued Interest?
| CPF LIFE Plan | Bequest Includes Accrued Interest? | Notes |
|---|---|---|
| Basic Plan | ✅ Yes | The unused RA savings continue to earn interest, and this interest is included in the bequest. |
| Standard Plan | ❌ No | The full premium is transferred to the Lifelong Income Fund upfront, and no interest is returned. |
| Escalating Plan | ❌ No | Same as Standard — no interest is included in the bequest. |
Why is this the case?
Under the Basic Plan, only part of the CPF RA savings is deducted monthly and gradually transferred to the Lifelong Income Fund. The remaining balance continues to earn interest, which will be included in the bequest if the member passes away early.
Under the Standard and Escalating Plans, the entire CPF LIFE premium is deducted upfront and transferred to the Lifelong Income Fund. Since the member no longer holds a balance in the Retirement Account, there's no interest-earning component remaining in their CPF RA — hence, no interest to be bequeathed.
References
CPF LIFE Payout and Bequest Details
https://www.cpf.gov.sg/service/article/what-happens-to-my-savings-used-for-cpf-life-when-i-pass-away-will-it-go-to-my-beneficiariesCPF LIFE Plans Comparison
https://www.cpf.gov.sg/service/article/what-are-the-cpf-life-plans-available-and-which-is-the-right-plan-for-me