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Disclaimer on Endowus CPF Calculator and CPF Preparedness Report

May 21, 2021

General Disclaimer

1. The information and material presented on the website (www.endowus.com/cpf-calculator-retirement) and the pdf report “CPF Preparedness Report” (both jointly referred to as “calculator”) are provided to you for informational purposes only.

2. Endow.us Pte. Ltd. (“Endowus”) does not make any representation or warranty or guarantee as to the completeness, accuracy, timeliness or suitability of any information contained within any part of the website or the CPF Retirement Report nor that it is free from error.

3. The calculator is constructed on a best effort basis by Endowus, based on the latest available (as of August 2021) CPF parameters, including but not limited to CPF interest rates across different accounts, CPF additional interest rates, Full Retirement Sum, CPF Life payouts, CPF allocation rates across different accounts, across different age groups, CPF Contributions limits , stipulated CPF LIFE payout age etc

Key Assumptions on the calculator

4. The inputs and calculations for the calculator are constructed based on publicly available information on CPF. Endowus have also made assumptions on the following figures to ensure that the calculator outputs are robust:

  • Assumption that prevailing CPF interest rates, additional interest rates, and CPF Contribution and Allocation rate as of August 2021 remains the same, to perpetuity.
  • Assumption that CPF Basic Healthcare Sum grows at 5.0% per annum, and the CPF Full Retirement Sum and its payout grows at 3.0% per annum.
  • Assumption on an annual return is 7.6% per annum based on a portfolio comprising 60% equity instruments and 40% fixed income instruments.

5. The Endowus CPF Calculator does not take into account the following:

  • Market volatility
  • Withdrawals from your CPF account, such as
  • Withdrawals from DPS insurance premiums
  • Withdrawals from HPS premiums Medishield/ISP premiums
  • Withdrawals from Agent Bank Charges
  • Transfer of CPF monies to your loved one’s CPF Special Account
  • Top-ups into your CPF account NS/Home Team Awards for NSmen
  • Top-ups into your CPF account Medisave topup from government
  • PSEA transfer to CPF OA
  • CPF Retirement Sum Top-Up Scheme
  • CPF Voluntary Contributions into Medisave
  • And other CPF monies usage and deposits

6. The flow of CPF monies for interest calculation, mortgage use, and CPF overflow for Medisave account, amongst other flows, is complex. Endowus endeavours to accurately reflect the complexity, and will make conservative assumptions on the projected interest paid, but actual CPF figures may differ.

7. Past performance should not be taken as an indication or guarantee of future performance and no representation or warranty, express or implied, is made regarding future performance. Any opinions expressed reflect a judgment at the original date of publication by us and are subject to change without notice.

No relation to government agencies

8. This calculator is constructed and commissioned independently of the CPF Board, Ministry of Manpower and any other government agencies.

Privacy Policy

9. The terms of our Privacy Policy shall apply to this CPF Calculator. For more information, please see Privacy Policy.

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