We look at how average Singaporeans navigate key personal financial schemes and decisions in our lives in a uniquely Singaporean way.
Along the way, usually when we hit certain milestones, we can expect to make financial decisions as well as enjoy financial support levers. Think of this read as the “Game of Life” from a Singaporean perspective.
When A Singaporean Is Born
As soon as you are introduced to the world, your CPF MediSave Account is opened. For Singapore Citizen babies born on or after 1 April 2025, a $5,000 MediSave Grant for Newborns is automatically credited into the account. The money can be used for healthcare expenses such as MediShield Life premiums, recommended childhood vaccinations, hospitalisation and approved outpatient treatments.
Singapore Citizen babies are also covered by MediShield Life from birth.
For now, parents can continue to receive support through the existing Baby Bonus Scheme. The Baby Bonus Cash Gift is $11,000 for the first and second child and $13,000 for the third and subsequent child.
The Child Development Account (CDA) also comes with a First Step Grant and dollar-for-dollar Government co-matching, with the amounts currently varying according to birth order.
However, these arrangements will change significantly from April 2027, when the Baby Bonus Scheme and Large Families Scheme will be replaced by the new SG Child Support Package.
Under the new package, every eligible Singapore Citizen child will receive the same baseline level of support regardless of birth order. For a child born on or after 1 April 2027, this includes:
- A $10,000 Baby Gift in cash, paid in two tranches within the child’s first 12 months
- A $5,000 CDA First Step Grant
- Dollar-for-dollar Government co-matching of CDA savings of up to $5,000
This means parents can potentially receive up to $20,000 from these components alone during their child’s early years. The separate $5,000 MediSave Grant for Newborns will continue alongside the SG Child Support Package.
The new package will not only apply to children born after it takes effect. All Singapore Citizen children aged 17 and below will be covered, with benefits depending on their age.
Until April 2027, eligible children can continue enrolling in and receiving benefits under the existing Baby Bonus Scheme. Children already under the Baby Bonus Scheme will automatically transition to the SG Child Support Package from April 2027.
For Singapore Citizen children born before 1 April 2027 who are still receiving Baby Bonus Cash Gift payouts, existing payouts will continue until 31 March 2027. Where applicable, they will receive a top-up by 30 April 2027 so that their relevant cash support reaches $10,000.
Read Also: Complete Guide to Baby Grants in Singapore
Your birth has to be registered within 42 days via the LifeSG app – which makes you eligible to partake in one of Singaporeans’ favourite hobbies: travelling! From 1 January 2020, newborn Singapore Citizens enjoy a waiver of the first passport application fee if submitted via MyICA on or before your first birthday.
1 Year Old
From the year a Singapore Citizen child turns one, another stream of financial support will kick in under the SG Child Support Package.
Singapore Citizen children who turn 1 to 16 from 2026 onwards will receive $2,000 in Child Credits every year. A child who receives the full 16 years of Child Credits will therefore receive $32,000 in total.
Although the scheme formally starts paying out from April 2027, children who turn 1 to 16 in 2026 will still receive their $2,000 Child Credits for 2026, with the first payout made in 2027.
For 2027, children whose birthdays fall between January and April will receive their Child Credits by 30 April 2027, while those with birthdays from May onwards will receive them on their birthday. From 2028, Child Credits will generally be paid on the child’s birthday each year.
This turns government support for children from something concentrated mainly around childbirth and the preschool years into more sustained support throughout much of their childhood.
About 2.5 To 3 Years Old
At the 50th percentile, boys and girls in Singapore reach 0.9m between the age of 28 and 32 months.
Once children hit a height of 0.9 metres (and below 7 years old), you have to present a child concession card when travelling on public transport. This enables children to travel for free on public transport, except on Premium Bus Services.
After this, you have to upgrade your travel concession cards each time you progress to an older milestone (i.e. Student, Adult, Senior Citizen).
Source: TransitLink
Parents can also look forward to lower preschool costs in the coming years. As part of the family-related measures announced at the National Day Rally 2026, fees at Government-supported preschools will be progressively reduced from 2028.
By 2030, full-day childcare fees are targeted to fall to $150 a month, while full-day infant care fees are targeted to fall to $300 a month, before means-testing. Full preschool subsidies will also be extended to families with Singapore Citizen children, regardless of the main applicant’s employment status, with further implementation details to be announced.
6 Years Old
Compulsory education kicks in for you. You have to attend a national primary school as a pupil, unless you have been granted an exemption, to attend Designated School or to be home-schooled. From 2019, children with moderate to severe Special Education Needs are also required to complete Compulsory Education.
12 Years Old
Traditionally, the Child Development Account closes at the end of the year a child turns 12, with unused funds transferred to the child’s Post-Secondary Education Account (PSEA).
This will change under the SG Child Support Package.
For Singapore Citizen children born on or after 1 January 2015, the CDA will instead remain open until the end of the year they turn 16. This gives families another four years to use CDA savings for approved expenses and, where applicable, benefit from Government co-matching.
Any unused CDA funds will subsequently be automatically transferred into the child’s PSEA, subject to the prevailing PSEA cap.
13 Years Old
All male Singapore Citizens and Permanent Residents need to take note of your exit permit and bond requirements if you are leaving Singapore for more than three months after turning 13. This is a consideration if you are intending to study abroad before you enlist for National Service (NS).
Source: CMPB
At 13, you are also legally able to start working (with restrictions) in Singapore.
Read Also: Can Children And Teenagers Work Legally In Singapore?
15 Years Old
The minimum age required to apply for a Singpass is 15 years old. Your SingPass allows you to access and transact with over 60 government agencies, including CPF, IRAS, HDB, Immigration and Checkpoints Authority of Singapore (ICA), MINDEF (for those enlisting), MOE, MOH, PUB and many others.
You also have to apply for your Identity Card (IC) before your 16th birthday.
16 Years Old
At 16, you can start working as an adult, without any special restrictions, in Singapore. It’s also the final year in which they receive the $2,000 annual Child Credits under the SG Child Support Package.
For a child who has received Child Credits every year from age 1 to 16, this adds up to $32,000 in cash support over their growing years.
The CDA will also remain open until the end of the year the child turns 16 for eligible children born on or after 1 January 2015. After it closes, unused CDA savings are automatically transferred to the child’s PSEA, subject to the applicable PSEA cap.
17 Years Old
Turning 17 brings one final major component of the SG Child Support Package.
Singapore Citizen children turning 17 from 2026 onwards will receive a one-off $10,000 top-up to their Post-Secondary Education Account (PSEA) to help with post-secondary education expenses.
Children who turned 17 in 2026 will receive their top-up in June 2027. From subsequent years, eligible children will generally receive the $10,000 PSEA top-up in June of the year they turn 17.
For a Singapore Citizen child born on or after 1 April 2027 who receives the full SG Child Support Package, the support can add up to
| Support | Amount |
|---|---|
| Baby Gift | $10,000 |
| CDA First Step Grant | $5,000 |
| Maximum CDA Government co-matching | Up to $5,000 |
| Child Credits from age 1 to 16 | $32,000 |
| PSEA top-up at age 17 | $10,000 |
| Maximum SG Child Support Package | $62,000 |
18 Years Old
You can open a Central Depository (CDP) account and brokerage account once you turn 18. This enables you to start investing in securities, including stocks and bonds, on the Singapore Exchange (SGX), as well as in the Singapore Savings Bonds (SSBs) and other relevant financial instruments.
You can also get a driving license in Singapore once you turn 18. You can also start drinking at 18, so make sure you don’t mix the two!
You can also get married, but will require the consent of a parent or legal guardian.
If you are a male Singapore Citizen or Permanent Resident (PR), enlisting for National Service is mandatory upon turning 18.
Read Also: Step-By-Step Guide To Opening A CDP Account In Singapore
19 to 21 Years Old
Male Singaporeans and PRs may defer their National Service to pursue full-time studies, up to GCE ‘A’ Level, polytechnic diploma, or their equivalent.
21 Years Old
You become an “adult” at 21. This means you start being able to vote in elections to decide how Singapore should be governed. It is also the age when you start receiving government payouts, such as cash from the GST Voucher scheme.
This also means you can get married, without requiring parental approval. With this privilege, comes you ability to apply for your first BTO home.
Read Also: [BTO Guide] Eligibility Criteria For Buying A HDB In Singapore
At 21, you can also start applying for your first credit card. However, you will likely only be able to continue applying for student credit cards as you would not likely have started working and earning a wage. It is also when you turn 21 that you can apply for most other banking services, such as car loans, home loans, personal loans and others.
25 Years Old
By the time many Singaporeans turn 25, they may already be thinking about upgrading their skills or making their next career move.
All Singapore Citizens receive a one-off $500 SkillsFuture Credit when they turn 25. Unlike some temporary SkillsFuture top-ups provided previously, this opening credit does not expire.
Read Also: Complete Guide To SkillsFuture Credits – And How Singaporeans Can Use Them
30 Years Old
For Singapore Citizens and Permanent Residents born in 1980 or later, CareShield Life coverage automatically starts when they turn 30. CareShield Life is Singapore’s national long-term care insurance scheme, providing lifelong monthly cash payouts if an insured person develops severe disability and is unable to perform at least three of the six Activities of Daily Living.
For a successful new claim made in 2026, the monthly CareShield Life payout starts at $689. Payout amounts increase annually until the insured turns 67 or makes a successful claim, whichever comes first. From 2026 to 2030, payouts are scheduled to increase by 4% a year.
Read Also: CareShield Life Vs ElderShield: Understanding The Differences Between These Two Policies
At age 30, your PSEA or post-secondary education account will also be closed. Any remaining funds in this account will be transferred to your CPF Ordinary Account.
You can also apply to be a taxi driver or get a private-hire driver licence only upon hitting 30.
Of course, you now also look vastly different to when you first received your Identification Card (IC). This is a good time (and also a compulsory time) to get a new IC.
35 Years Old
Turning 35 can be a little less depressing for singles! To cheer you up, you can now finally buy an HDB flat on your own.
Read Also: 35 And Single? Here Are HDB Housing Options Available For You
When you turn 35, your CPF allocation rates also change. While you still contribute 20% of your salary and your employer still contributes 17% of your salary into your CPF accounts, how they are split into the individual CPF accounts changes. A lower percentage goes into your CPF Ordinary Account (OA), while more is channelled into your Special and MediSave Accounts to bolster your retirement and medical needs.
Source: CPF
40 Years Old
For enlisted men and specialists, you have now “MR-ed” (put into MINDEF Reserve list), which means you no longer have to go back for reservist. Officers, you have to continue serving our nation until you turn 50.
Singapore Citizens aged 40 and above receive additional support under the SkillsFuture Level-Up Programme.
This includes a $4,000 SkillsFuture Credit (Mid-Career) top-up, which can be used for selected courses that have better employability outcomes.
Eligible Singapore Citizens aged 40 and above can also receive a SkillsFuture Mid-Career Training Allowance when taking selected long-form training programmes.
For eligible full-time training, the allowance can be based on 50% of the individual’s average monthly income over the latest available 12-month period, capped at $3,000 a month, subject to a lifetime limit of 24 months.
Support has since been expanded to selected part-time training as well, with eligible individuals able to receive a flat $300 monthly allowance.
Those looking to make a career switch can also consider the Mid-Career Pathways Programme. It is open to Singaporeans and Permanent Residents aged 40 and above and provides full-time attachments lasting four to six months. Trainees can receive an attachment allowance of up to $3,800 a month, depending on the role.
Read Also: Complete Guide To The SkillsFuture Level-Up Programme
45 Years Old
As depicted in the graph above, your CPF allocation rates change again, with more emphasis on your retirement, via your Special Account, and medical costs, via your MediSave Account, and less on your housing needs, Ordinary Account.
Apart from when you turn 35, this also happens when you are over 45, 50, 55, 60, 65 and 70.
50 Years Old
Commissioned officers, you have now reached your statutory age, and will be put into the MR list.
55 Years Old
Turning 55 is one of the most important CPF milestones.
Your Retirement Account (RA) is created when you turn 55, while your Special Account is closed. Savings are transferred into your RA to support your future retirement payouts.
For members who turn 55 in 2026, the CPF retirement sums are:
Basic Retirement Sum (BRS): $110,200
Full Retirement Sum (FRS): $220,400
For CPF members aged 55 and above, the 2026 Enhanced Retirement Sum (ERS) is $440,800. Unlike the BRS and FRS, which depend on the year you turn 55, the ERS is based on the prevailing year’s limit and increases over time.
You can generally withdraw at least $5,000 from age 55. If you have set aside your Full Retirement Sum, you can also withdraw your remaining Ordinary Account savings. Property owners who satisfy the relevant property pledge and lease requirements may have additional withdrawal options.
CPF contribution rates for senior workers have also increased.
For employees earning monthly wages above $750, the total CPF contribution rate in 2026 is:
- 55 and below: 37%
- Above 55 to 60: 34%
- Above 60 to 65: 25%
- Above 65 to 70: 16.5%
- Above 70: 12.5%
For those above 55 to 60, this comprises 16% from the employer and 18% from the employee.
There is already another increase scheduled for 1 January 2027. Total CPF contribution rates will rise to 35.5% for those above 55 to 60 and 26% for those above 60 to 65.
Singaporeans aged 55 and above who right-size their homes may also qualify for the enhanced Silver Housing Bonus. Since 1 December 2025, eligible seniors who right-size can receive a cash bonus of up to $40,000, depending on the property they move into and the amount committed towards their retirement payouts.
Read Also: [Beginners’ Guide] Understanding CPF LIFE And Your Monthly Payouts When You Retire In Singapore
60 Years Old
You are now a senior citizen in Singapore. Two weeks before your 60th birthday, you can apply for your senior citizen concession card, also known as the PAssion Silver card. This allows you to travel on Singapore’s public transport at subsidised fares, as well as “a suite of merchant benefits and privileges”.
CPF contribution rates fall again once you move into the above-60-to-65 age band.
For employees earning monthly wages above $750, the total CPF contribution rate in 2026 is 25%, comprising 12.5% from the employer and 12.5% from the employee.
64 Years Old
You’ve reached Singapore’s prevailing statutory retirement age.
From 1 July 2026, Singapore’s minimum retirement age increased from 63 to 64, while the re-employment age increased from 68 to 69.
The retirement age does not mean that you are required to stop working. Rather, employers cannot retire an employee below the statutory retirement age on the grounds of age, while eligible employees must generally be offered re-employment up to the re-employment age.
The Government remains on track to raise the retirement and re-employment ages further to 65 and 70 respectively by 2030.
Read Also: What Is The Difference Between Retirement Age And Re-Employment Age In Singapore?
This change is also relevant for new Supplementary Retirement Scheme (SRS) savers.
Penalty-free SRS withdrawals are tied to the statutory retirement age that prevailed when you made your first SRS contribution, known as your prescribed retirement age. Once this is fixed by your first contribution, subsequent increases to Singapore’s statutory retirement age will not affect it.
Eligible withdrawals after reaching your prescribed retirement age can be spread over a 10-year withdrawal period, and only 50% of these withdrawals are subject to income tax.
65 Years Old
From age 65, you can start receiving your CPF retirement payouts, including CPF LIFE payouts if you are covered under the scheme.
You do not have to start immediately at 65. You may choose to defer your payouts until age 70. For each year that payouts are deferred, monthly payouts can increase by up to 7%, or by up to about 35% if you defer from 65 to 70.
CPF LIFE continues to offer three plans — the Standard Plan, Basic Plan and Escalating Plan — which differ in how payouts and bequests are structured.
Those born in 1958 or later can also withdraw up to 20% of their Retirement Account savings at age 65, subject to applicable exclusions and rules. This amount includes the first $5,000 that was available for withdrawal from age 55.
For employees above 65 to 70 earning monthly wages above $750, the total CPF contribution rate in 2026 is 16.5%, comprising 9% from the employer and 7.5% from the employee.
Eligible HDB flat owners aged 65 and above can also consider the Lease Buyback Scheme to monetise part of their remaining flat lease while continuing to live in their home.
Dependants’ Protection Scheme coverage also ends at age 65. For members aged 60 to 64, the prevailing maximum DPS sum assured is $55,000.
Source: Great Eastern
Read Also: Dependants Protection Scheme: Here’s One Insurance Policy You Didn’t Know You Already Have
67 Years Old
You stop paying for CareShield Life premiums at 67, but continue to receive lifelong coverage.
69 Years Old
Since 1 July 2026, Singapore’s statutory re-employment age has been 69.
Reaching 69 does not mean you are prohibited from continuing to work. Rather, employers are generally no longer required under the Retirement and Re-employment Act to offer eligible workers re-employment beyond the prevailing re-employment age.
70 Years Old
You must start making CPF LIFE withdrawals, if you haven’t already started at any point after turning 65.
Your CPF contribution rates also goes down a final time. By this time, the majority of workers may have retired, and this is reflected in CPF contributions as well – with employers paying just 7.5% and employees contributing just 5%, for a total of 12.5% contributions to your CPF accounts. The bulk of these contributions (84% of your CPF contributions or 10.5% of your salary) goes to your MediSave Account, with the remaining amount split evenly between your Ordinary Account and Special Account.
84 Years Old
Congratulations! You’ve reached an age that exceeds Singapore’s latest published average resident life expectancy at birth.
According to the Singapore Department of Statistics, resident life expectancy at birth was 83.5 years in 2024, comprising 81.2 years for males and 85.6 years for females.
99 Years Old And Above
You will soon be joining an exclusive club – there are about 1,100 centenarians in Singapore.
Many of your term insurance plans will lapse between the age of 99 to 101. This means even though you’ve been paying your insurance premiums all along, your family will not get an insurance payout after you pass on. This isn’t as bad as it sounds, you shouldn’t have any dependents or family members relying on your insurance payouts to get by after you pass on.
Living past 99 years should not worry you as CPF LIFE will continue giving you a monthly payout regardless of how long you live.
Read Also: CPF LIFE VS Retirement Sum Scheme: What’s The Difference?
Growing Up, And Growing Old In Singapore
While important, financial consideration are only one aspect of our life growing up in Singapore. We need to enjoy the process in each of our life stage, as children receiving education, as economically contributing adults and as seniors.
At the same time, approaching the final stretches of our life stage in Singapore should not be seen as the end, but rather as a point in our life that we can look back on our journey and say “yes, I enjoyed growing up in Singapore”.
We hope you enjoyed reading our version of a Singaporean’s game of life – based on key financial decisions and eligible schemes we can enjoy. If there are other things you believe we should add to the article, reach out to us at [email protected]
