Best annuity plan

What makes a good retirement plan or annuity policy?

The main objective of a retirement plan or annuities would be to provide a consistent stream of income starting from your preferred retirement age. Ideally, a shorter premium tenor would provide the highest yield to the maturity of the policy.

In order to retire without much financial stress, you should look to increase the number of income streams you have. This will guard you against the event where one income stream runs dry.

A retirement annuity plan helps you to achieve that by paying out guaranteed monthly income as well as potential bonuses upon reaching your chosen retirement age. In this post, we breakdown what are some of the best retirement plans offered in Singapore and which fit your unique needs.

Depending on individual retirement plans, additional options may even be available to further optimize your overall financial yields.

Our pick for the 4 Best Retirement Plans and Annuities in Features and Income Payout are based on the criteria below:

    Policy options available for premium tenor
    Policy options available for the period of income payout
    The rate of financial returns and payout (Guaranteed and Non-Guaranteed)
    Choice and features of riders to complement health coverage (Additional guaranteed payout)
    Product features unique to the listed retirement plans

Find out more: Compare Best Retirement/Annuity Plans in Singapore

Read also: 3 things to consider before taking up a new financial product

With all insurance companies in Singapore offering their retirement annuities, make sure you select only the best for yourself!
Why do you need a retirement plan?

Your CPF LIFE payout will supplement your income during your retirement and assist with your basic living needs. However, it will not be realistic to expect CPF Life to provide a high level of comfort for your lifestyle.

Consider the following questions:

    Are you looking to still have a high and stable income despite a lower workload as you age?
    Are you still preparing your financials to sustain your lifestyle when you stop working?
    Is maintaining a specific lifestyle important even as daily costs go up?
    Does your ideal retirement lifestyle involve discretionary spending such as frequent overseas travelling?
    Are stability and predictability what you seek in a financial product when it comes to your income stream during your retirement years? 
    Will a retirement annuity help to provide additional cash flow to your preferred lifestyle?

If your answer to the above questions is mostly yes, you may wish to consider taking up a retirement plan for a constant stream of income.

Basics of retirement planning: How does a retirement plan work?

Basics of retirement planning: When should you start saving for your retirement?
The best retirement plans based on features and income payout

In no order of preferences or ranking, we present the best retirement plans that offer a stream of the highest income payout to meet your retirement needs.

As your retirement goals and objectives are unique based on your individual expectation, ensure that your retirement plan is customised to fit your lifestyle needs.
Best High Income Retirement Plan for Disability Benefit – Manulife RetireReady Plus III

Manulife RetireReady Plus III

Manulife RetireReady Plus III is a retirement income plan that gives you the flexibility to choose:

    Your desired retirement age at 55. 60, 65 or 70 years old
    Income payout period of up to 80, or up to 90 or for a lifetime
    Your desired amount of monthly guaranteed income
    Your desired premium payment term of 5, 10, 20 years or single premium (SRS option available)

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