It is again the time of the year to document my CPF retirement goal update. My special account has grown from previous year balances of S$266K to S$286K as of Jan 1, 2026. Note that I will only be sharing my CPF Special Account here as I find the balances in the CPF Ordinary Account ("OA") and Medisave account wholly irrelevant for my retirement income planning. Reason being that for CPF OA, amount here will eventually be fully utilised to pay down my housing mortgage as I do not plan to work till age 65 years old and targeting an early retirement. As for Medisave, my parents do not have much medical insurance coverage and I think that I will most likely exhaust all the balances here into their future healthcare. I have seen my cousins' Medisave being drawn down to zero for medical expenses for medical payment on behalf of their parents in similar circumstances.
Interest Income
For 2025, I received an interest income of S$11,428 from the CPF Board for my Special Account which was credited on Jan 1, 2026.
Parting Thoughts
If I do not get retrenched by my boss this year, then most likely, my CPF Special Account will hit the milestone of S$300K and a passive annual interest income of S$12K from the year of 2027.
Last but not least, do take note that CPF Life payout only commenced at age 65. For those who intend to early retire at age 55, one would need to think of how to generate other sources of passive income to sustain the decade between age 55 years old to 64 years old before the CPF Life payout kicks in.
No comments:
Post a Comment