Dear Mr. Tan
My 61 yr old mother has a Income Life annuity purchased with CPF retirement funds. We are thinking of converting the CPF annuity to a cash annuity using cash payments (since we bought the annuity at good terms previously). Then she would have funds both in CPF (from the annuity refund) and the Life annuity, which would both offer stable returns for a retiree.
Do you know whether NTUC Income allows policy holders to convert an existing CPF annuity policy to cash annuity if we pay cash?
REPLY
You can ask Income directly. The head of life insurance is Peh Chee Keong, pehck@income.com.sg.
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