Introduction

In the context of Singapore, retirement plans and annuity insurance plans are important financial products for individuals to consider as they plan for their retirement. Here’s how these plans work in Singapore:

Retirement Plans in Singapore

In Singapore, there are several types of retirement plans available, including the Central Provident Fund (CPF), Supplementary Retirement Scheme (SRS), and private retirement plans offered by banks and insurance companies.

The CPF is a mandatory social security savings scheme that requires both employers and employees to contribute a percentage of their income to their CPF accounts. These accounts can be used to fund retirement, healthcare, housing, and education expenses. The SRS is a voluntary savings scheme that allows individuals to contribute additional funds to their retirement savings, which can be used to reduce their tax liability.

Private retirement plans offered by banks and insurance companies in Singapore typically include investment-linked policies, endowment plans, and annuity plans. These plans can provide individuals with an additional retirement income and may also offer tax benefits.

Annuity Insurance Plans in Singapore

In Singapore, annuity insurance plans are offered by insurance companies and can provide individuals with a regular stream of income in retirement. These plans can be structured as a fixed or variable annuity, with payments made either for a fixed term or for the rest of the individual’s life.

The Monetary Authority of Singapore (MAS) regulates annuity insurance plans and requires insurers to provide detailed information about the terms and conditions of the plan, including the payout structure and fees associated with the plan.

Overall, retirement plans and annuity insurance plans are important financial products for individuals to consider as they plan for their retirement in Singapore. These plans can provide individuals with a reliable source of income in retirement and may offer tax benefits as well. It is important for individuals to carefully consider their financial needs and goals when choosing a retirement plan or annuity insurance plan.

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Our Partners

PromiseLand works with Partners in the industry to bring the best solutions to the table for our customers. With a selection of carefully designed insurance plans, we ensure that your needs are met. To find out more about the plans below, speak to your Financial Adviser, explore our Financial Calculator, or book an appointment to discuss your needs with us today.

AIA Logo

AIA Singapore Pte Ltd

China Life Insurance (Singapore) Pte. Ltd

China Life Insurance (Singapore) Pte. Ltd

China Taiping Logo

China Taiping Insurance (Singapore) Pte. Ltd

Etiqa Insurance Pte. Ltd

HSBC Insurance

HSBC Insurance (Singapore) Pte. Limited

NTUC Insurance Limited

MANULIFE (SINGAPORE) PTE. LTD

Manulife (Singapore) Pte. Ltd

Singapore Life Ltd

Journeying with You

Journeying through some challenges in life can be tough and we know.  We make sure that every step of the way, we are there to help you.

Andrew Han

MINDEF - Assistant Director (IT systems)/SMART buildings
I was actually in the market looking for a short term saving plan with guaranteed returns of between 10 to 12%/annum. Jeremy was able to refer me to an opportunity that offered a financial platform which guarantees by contract my

Abe Fumika

Consultant
She is knowledgeable, responsible and do not ‘hard sell’ her policies. Rachel has always been in this industry. She is always here to take care of my questions and to constantly update me with regards to change in policy’s terms

Esther Lee

Doctor
Rachael has been our financial consultant for the past 5 years and we have been very pleased with her service and professionalism. With our busy schedules, Rachael is always very understanding and accommodating. She is also very transparent in sharing

Wong Hoe Hon

Director of Eastern Green
Roger is a great person with great character. He is very trustworthy and provides excellent service. I gained much clarity after speaking with him! He was able to show me a clear overview across insurers and even shared with me

Dicky Ho

Information Technology Security Officer
Joseph is a very hardworking and responsible consultant. He gives the best advice and solutions after analyzing my needs. He is also a very good trusted friend. I am very pleased to have him to take care of my portfolio.

Satyajit RK

Recruitment Consultant
Daniel has provided an excellent service. He recommended policy that matched my requirements. Thank you!

Felix Setiawan

Interior Designer
Nelson is different from others, he is knowledgeable in his industry. I appreciate his professionalism as he only recommended solutions based on my needs. He is extremely helpful and is willing to go the extra mile for his clients. I

Joel Rodrigues

Chief Investment Office - Investment Content Manager
I decided to work with Daniel for my financial planning matters as he was able to provide me with the information that I need whilst remaining objective about his recommendation. Throughout my interaction with Daniel, I appreciate the fact that

Klaire Chan

Adult Educator
Prompt and patient, responsive and responsible, Anne was a real blessing in her attentive consultations, efficient follow-throughs and thoughtful support. I know I can trust her to be there for me on this journey to financial health!

Jackie

Professor
I have known Ron since 2015 and find him to be a professional who truly listens to all my needs. He provides great solutions for my retirement planning, and I am happy with it.

Tan Jia Jun

Director at Unisprings
Excellent and fast service by Daniel Choo!

Henry Koo

Consultant, Chief Financial Officer, FMCG, FCA
Jeremy genuinely cares, is always willing to help and advises from the heart. He is knowledgeable about various financial and insurance products and offers a holistic retirement/financial planning approach.

Alan Koo

SABECO - Chief Financial Officer/Deputy General Director
I was introduced to Jeremy via a referral. Overall, I was happy with the service that Jeremy rendered given my requirements. Good follow through and always able to provide different offerings for me to decide upon and not just a

Jenny 

Sales Manager
I get to know Joseph as my financial planner in year 2019 . He is a great person with great character. He is very trustworthy and provides excellent service. Joseph has made the process of dealing with insurance easy and

Hannah

Teacher
I am glad to have chanced upon Midas and met Joseph and Kardiono when I was looking for an investment plan that could grow my funds for retirement. Having exhausted my funds on housing and surrendered my investment link insurance

Eric Elsig Fabian

NIKE - Director Treasury Asia
I have been looking for a long time for someone who could explain me the maze of financial planning, until I met Jeremy, everything become crystal clear. Throughout the different meetings, Jeremy has been able to identify my needs and

Yew Chi Sing

MAS - Deputy Director
“Jeremy has provided me with great advice in financial planning. As an independent financial adviser, I truly appreciate that he's able to analyse and compare across all the market products available which best fit my requirements. He has helped me

Lock

Head of Security and Compliance
Wai Hon has extensive experiences in the financial services industry in various capacities. As an advisor, he is very professional in helping me to find the best product in the market that suits my exact needs. He is helpful in