Dear Mr Tan
I will be reaching 55 years old this November. I was encouraged to buy into NTUC Income's annuity by a friend early this year.
However, with all these new govt policies coming out on the deferred bonus and interest rate on CPF, may I seek your advice whether I should still go for Income's annuity or not? I really appreciate your expert advice on this.
MY REPLY:
It is better to keep your money in the CPF retirement account to enjoy 4% plus 1%.
You can decide at a later date, when you are 62 years old, whether to invest in a life annuity from NTUC Income.
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