This Govt is very good with numbers, they know the average mortality age is 85
Example only:
With a Retirement Account (RA) balance of $100,000 at age 65, you can expect an estimated monthly CPF LIFE payout ranging from $848 to $905. This estimate is based on the CPF LIFE Standard Plan.
For those Over-achiever:
With a Retirement Account (RA) balance of $500,000 at age 65, You can withdraw excess funds above your Full Retirement Sum (FRS) in your RA
View attachment 214391
IF want FULL AMOUNT withdrawal, the policyholder need to passed on ... but only his beneficiary gets to enjoy & he will receive in 3 weeks after Death Certificate issue.