Transfer back to retirement account before 62

A policyholder told me that he decided to withdraw from a life annuity before payments starts at 62. He was surprised to learn the following:

> The cash value for the life annuity gave quite an attractive return from the past 6 years

> The CPF was willing to accept the cash value back into the retirement account

> The retiree was able to get a deferment bonus of $1,600 (not sure about the exact amount) a year X 3 years for deferring the withdrawal to 65 years.

This turn out to be a good deal!