Dear Sir,
I am asking this on behalf of my mother. She has $60K in her retirement account. She is thinking of transfering the entire sum to the NTUC annuity. Is it wise?
REPLY
It is better to keep the money in the CPF retirement account and earn an return of 4%plus 1% bonus (on $40,000).
Your mother should buy the life annuity with savings that are outside of CPF.
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