S'pore woman, 71, probably holds record for highest CPF monthly payout at S$4,600 per month: ST

According to a Straits Times (ST) article, a woman in Singapore probably holds the current record for the highest CPF monthly payout: around S$4,600 per month.

This translates to around S$55,000 per year in tax-free income, just from CPF payouts.

The woman, Janet (not her real name), had diligently topped up her Retirement Account (RA) every year since she joined the scheme at 55, reported ST.

She also opted to start the payout at 70 instead of 65, further boosting the payout sum.

This has resulted in Janet receiving a payout roughly five times more than other individuals her age who did not make any top-ups to their accounts.

How to be like Janet

The current cap for RA top-ups is S$440,800 as of 2026 (a figure that increases every January, according to CPF).

But ST noted that even if a 55-year-old had topped up their RA to this amount in 2026, the expected monthly payout at 65 would only be about S$3,400.

Despite this, it's possible to match or even beat Janet's record by following her same method of consistently topping up one's RA until the age of 70.

Let's say you are 55 this year and max out the RA cap of S$440,800. You'd only get around S$3,400 — but, as mentioned earlier, the cap increases slightly every year.

If you continue to make incremental top-ups every year, your monthly payout can be expected to increase by about S$100 per year.

This means that once you begin receiving your payouts in 15 years, at the age of 70, you should be getting about S$5,000 a month.

Living comfortably

In addition to her CPF payouts, Janet also receives an annual interest income of at least S$30,000.

According to ST, this is because she made annual contributions to her CPF even after she stopped work at 63, and thus accumulated over S$1 million in her Ordinary and MediSave accounts.

Together, she receives about S$7,000 per month, or S$85,000 per year, in retirement income from CPF alone.

Janet called CPF "the best retirement scheme in the world".

Everyone should try to max out their RA top-ups to enjoy the four per cent interest rate, she said.

"It is impossible to get this rate either from the banks or other institutions."

CPF LIFE

Unlike Janet, who is on the previous Retirement Sum Scheme that stops payouts at the age of 90, current members' payout continues throughout their lives.

The payout is also guaranteed by the government, which makes it safer than many other retirement schemes.

The CPF LIFE scheme works by risk-pooling, like other insurance plans. So at the age of 65, the entire balance of one's RA, including any interest earned, is put into a common pool with everyone else's RA balances.

This enables members to receive lifelong payouts.

Upon their death, the beneficiaries will receive any remaining unpaid CPF LIFE premiums together with any remaining CPF savings.

This is because CPF LIFE, as a retirement scheme, is primarily meant to protect you in your old age.

It's not like private investment schemes in which you can potentially earn a lot more — but, naturally, at greater risk as well.

Top image from Canva (for illustrative purposes)