Retirement Income Gap Calculator

Monthly income gap at retirement

$2,220/ month

Desired income of $3,000/month today grows to $5,418/month in 20 years — CPF LIFE is projected to pay $1,780/month, leaving this gap.

Desired monthly retirement income (today's dollars)

$3,000

What the prospect wants to live on, in today's money

Years to retirement

20 years

Used to inflate the desired income to future dollars

Inflation rate assumption

3.0% a year

Singapore CPI has long-run averaged roughly 2-3% a year

RA balance at 55 (for CPF LIFE estimate)

$220,400

Desired income vs. projected CPF LIFE payout

Both shown in future dollars, at the prospect's chosen retirement year

Desired income (inflated)$5,418

Projected CPF LIFE payout$1,780

Desired income at retirement

$5,418 / mo

Projected CPF LIFE payout

$1,780 / mo

Monthly gap to plan for
$3,638 / mo

Expected years in retirement

25 years

Used only for the lump-sum estimate below

Estimated lump sum to cover the gap

$1,091,400

Simple estimate: monthly gap × 12 × years in retirement, with no investment growth or discounting assumed