How Much Should I Save for Retirement?
Project your pension-plan, unit trust and other retirement saving — the layer that sits on top of CPF LIFE — based on your age, monthly contribution and expected return, in Singapore dollars. Free, no sign-up.
Your Details
The CPF LIFE payout age is 65 — see the CPF LIFE calculator.
Include your own contribution to an approved pension or retirement scheme, your employer's, and any separate investing in unit trusts or shares.
After fees and tax, and ideally after inflation. Singaporean inflation has often run mid-single-digits, so a real return well below the nominal figure is realistic.
At Retirement — Age 65
Projected Savings
$1,949,956
30 years · 7% per year
💬 In Plain Words
If contributions keep going at $800/mo from now (age 35) until you are 65, you could have about $1,949,956 by the time you retire — this is on top of any CPF LIFE. Of that, $408,000 is contributions and the rest, $1,541,956, is return the money generated on its own. Under the "4% rule" that could support about $6,500/mo, before CPF LIFE pension.
| Age | Balance |
|---|---|
| 40 | $227,389 |
| 45 | $379,627 |
| 50 | $595,443 |
| 55 | $901,390 |
| 60 | $1,335,108 |
| 65 | $1,949,956 |
This projection estimates only your own retirement saving — it does not include CPF LIFE, which is a separate national annuity paying a monthly income for life from age 65 based on your Retirement Account balance. Assumes a constant nominal return. Check your pension-scheme projection with your provider and talk to a licensed financial adviser before deciding.
How the Calculator Works
👋 Simple Explanation
In Singapore CPF LIFE (see the CPF LIFE calculator) pays a monthly income for life from age 65, sized by the amount in your CPF Retirement Account at 65. For most people it replaces only part of their working income, so most people have to build the rest themselves through an approved pension or retirement scheme, unit trusts, shares or property. This calculator estimates that self-funded layer only, not the CPF LIFE.
The calculator combines two formulas: the future value of your current balance (growing at the expected return) and the future value of your ongoing monthly contribution.
FV = P × (1+r)ⁿ + PMT × [(1+r)ⁿ − 1] / r
Where P = current balance, r = monthly return (annual ÷ 12), n = months to retirement, and PMT = the total monthly contribution. The estimated monthly income uses the 4% withdrawal guideline: annual income = 4% × final balance.
How to Strengthen Your Retirement Saving in Singapore
Use the SRS and CPF top-ups. Contributions to the Supplementary Retirement Scheme, and cash top-ups to your CPF Special or Retirement Account, are deductible from your taxable income up to annual caps — an immediate return through lower income tax. The catch is that both lock the money up until retirement, so size the amount to your other needs.
Watch fees and beat inflation. Compare the management fee between unit trusts and pension funds — a percentage point a year compounds heavily over decades. Aim for a mix that has a real chance of beating Singaporean inflation over the long term, not just a savings account.
Start as early as possible. Time is the most powerful variable. Starting small in your twenties beats starting large in your forties, because the early contributions compound the longest.
Frequently Asked Questions
- How much should I save for retirement in Singapore?
- There is no single figure — it depends on how much you spend and how many years you expect to live off your savings. A common rule of thumb (the '4% rule') suggests capital of about 25 times your annual spending can support withdrawals for around 30 years. CPF LIFE provides a monthly payout for life from age 65, based on your CPF Retirement Account balance, so a large part of your retirement income still comes from your own saving and voluntary CPF top-ups. This calculator estimates that layer.
- Does this calculator include my CPF LIFE?
- No. CPF LIFE is a separate national annuity that pays a monthly income for life from age 65, based on the amount in your CPF Retirement Account at 65. This calculator projects only the layer on top: your SRS, unit trusts, shares and cash savings. Your CPF LIFE payout plus this projected saving is your total retirement income.
- What can I use to save for retirement in Singapore?
- The Supplementary Retirement Scheme (SRS) gives a dollar-for-dollar tax deduction on contributions up to an annual cap, and CPF top-ups (to your own or family members’ accounts) also give tax relief. Beyond that, low-cost index funds, REITs and shares on SGX are common. Property is also widely used. Fees, discipline and time in the market matter more than picking the perfect product.