Navigate Your Financial Future with PLAN with CPF: A Comprehensive Guide to Retirement, Home Buying, and Healthcare Planning
Big life decisions like getting married, buying a home, planning for healthcare, and preparing for retirement can often feel overwhelming, especially when you’re trying to figure out if you can actually afford them—not just now, but in the long run too. If you’ve ever found yourself scratching your head over these questions, you’re not alone.
Luckily, the CPF Board has come to the rescue with PLAN with CPF, a handy personalized dashboard accessible via your Singpass. It’s designed to guide you through your financial planning journey, covering key life stages like retirement, housing, healthcare, and even legacy planning. Think of it as your own financial GPS, making sure you navigate your money matters wisely.
What’s PLAN with CPF All About?
PLAN with CPF isn’t just a bunch of boring numbers. It’s a one-stop platform packed with tools and resources tailored to your financial situation. It’s like having a financial advisor on standby—helping you map out your goals, check your progress, and point out what steps you should take next.
With a Singpass login, you get your own dashboard where you can choose the planning area that matters most to you. Whether you’re crunching numbers for your next home, sizing up health insurance plans, or looking ahead to retirement, PLAN with CPF has useful planners and clear guidance to help you make smart decisions.
Buying a Home? Use the Home Purchase Planner
Buying a home is huge—we get it. Maybe you’ve already compared BTO and resale prices, or punched numbers into a mortgage calculator. But here’s the thing: it’s not just about how much you can borrow. Have you thought about how much CPF savings you’ll have left after the downpayment and monthly mortgage? And more importantly, will you still have enough left over to fund your retirement comfortably?
The Home Purchase Planner on your dashboard helps you with exactly that. Based on your income and CPF balances, it doesn’t just tell you how big a loan you can handle—it gives you a full picture of your housing budget and how that fits into your retirement plans. This means you’re not just buying a house; you’re buying peace of mind knowing you’ve planned for today and tomorrow.
Health Insurance in Your Golden Years? Check the Health Insurance Planner
We tend to overlook health insurance when we’re younger, but it’s one of the most important things to get right for our later years. Premiums for Integrated Shield Plans start low when you’re healthy and working, but they rise sharply as you age.
Many people don’t realize this until the premiums become a real bite out of their retirement savings. The Health Insurance Planner lets you compare your existing plan with other Integrated Shield plans side-by-side, showing you key benefits clearly. Even better, it projects how premiums might increase over the next 30 years or until you’re 90 years old, breaking down what can be paid with MediSave versus out-of-pocket cash.
With this info at your fingertips, you can make smarter choices about your healthcare coverage ahead of time, avoiding unpleasant surprises later on.
Worried About Retirement? The Retirement Payout Planner Has Got You Covered
Retirement planning can feel like trying to hit a moving target. Some worry they haven’t saved enough, while others hope their CPF payouts will cover all their needs.
The Retirement Payout Planner helps you set realistic goals by letting you project your savings and monthly payouts at retirement. It then helps you explore ways to make the most of your CPF savings to close any gaps. The planner gives you a snapshot of your readiness, so you know exactly where you stand—and what steps to take next to enjoy a secure and comfortable retirement.
Learn as You Go with Tailored Resources
Besides planners, PLAN with CPF offers a treasure trove of educational resources tailored to your life stage. Just starting out in your career? There are simple articles on how to harness compound interest to boost your CPF savings. Thinking about buying a home? After using the Home Purchase Planner, you can dive into practical tips on managing home finances confidently.
These resources help deepen your CPF and financial know-how, making your planning journey less daunting and more informed.
More Than Just CPF—Check Your Overall Financial Fitness
Your financial health isn’t just about CPF balances. That’s why PLAN with CPF includes the Financial Fitness Beyond CPF questionnaire, developed with MoneySense and based on MAS’s Basic Financial Planning Guide. It covers key areas like emergency funds, insurance, investment, retirement, and legacy planning.
Answer a few simple questions, and the tool offers personalized advice to strengthen areas you might be neglecting. It’s a great way to get a comprehensive picture of your financial well-being and start taking practical steps towards a more secure future.
Why You Should Give PLAN with CPF a Try
Financial planning doesn’t have to feel like a drag or an impossible puzzle. PLAN with CPF simplifies it by offering practical tips and easy-to-follow guidelines that you can apply no matter where you are in life.
It’s your trusty go-to hub that keeps your best interests front and center, covering everything from retirement and housing to healthcare and legacy. Plus, you can revisit and update your plans anytime life throws you a curveball.
The best time to start planning was yesterday. The next best? Before your next kopi.
This post was written in collaboration with CPF. While we are financially compensated by them, we maintain our editorial integrity and review products objectively to help you make confident financial decisions. The article was first published on MoneySmart and the information is accurate as of the date of publication.
