For Individuals

Retirement - MyRetirement

Myretirement

Alternatively, speak to your personal financial adviser.  

Are you looking forward to retirement? Or are you starting to wonder if you'll have enough to get by on when the time comes?

MyRetirement

 

We understand the uncertainty you may be facing. That's why Aviva has developed a retirement product that can help you find yourself at a more comfortable place financially, by the time you choose to retire. Capital guaranteed4 and with guaranteed returns5 – it's simple, safe and sure.

If you're still unsure if you need a plan, ask yourself this simple question:

"By the time you turn 65, can you afford to retire?"

The CPF is a good start, but it may not be enough. Simply because, in retirement:

  • You have stopped working and are using your savings to sustain your lifestyle. It may not be enough.
  • The money you are saving for retirement today may be worth a lot less tomorrow due to inflation.
  • You may need to see the doctor more often as your body gives in to age. With inflation, healthcare costs are only getting more expensive.
  • You may not be able to depend on your children for financial support.

Each year, fewer members meet CPF's Basic Retirement Sum requirement of S$155,000.1

Those who plan to set it aside as cash savings (in their retirement account) will receive a monthly payout of S$9061 for about 20 years, from age 65 onwards.

Note: Since 1 May 2015, CPF Board has changed the term “Minimum Sum” to “Basic Retirement Sum”.

Can you sustain the lifestyle you hope for with just S$906?

A solution that's simple, safe and sure
Because 4 in 10 Singaporeans2 find financial planning for retirement too complicated, we were careful to keep MyRetirement easy to understand and f inancially accessible.

  • Monthly Guaranteed Retirement Income for 10 years starts just one month after your chosen Retirement Age.3
  • Capital guaranteed4 so you can get all your premiums back to support your retirement.
  • Guaranteed returns of up to 2.38% per annum5.
  • Choice of Retirement Age – 50, 55, 60, 65, 70 or 75 Age Next Birthday (ANB).3
  • Choice of premium payment term - eight years, ten years, or affordable regular payment (up to five years before your selected retirement age).
  1. Source: Aviva's Consumer Attitudes to Savings survey, February 2010 to November 2011. CPF Basic Retirement Sum at S$155,000 as at 21 Jan 2015. Source: https://www.cpf.gov.sg/members//schemes/schemes/retirement/retirement-sum-scheme Payout of S$835-906 is based on Singaporean female, born on 1 January 1954, with Retirement Account balance of S$155,000. She chooses LIFE Basic Plan under the CPF Life Scheme. Source: https://www.cpf.gov.sg/members/tools/calculators accessed on 22 December 2014.
    Note: Since 1 May 2015, CPF Board has changed the term “Minimum Sum” to “Basic Retirement Sum”.
  2. Source: Retirement research done by Harris Interactive, commissioned by Aviva Ltd (2011).
  3. At start of the Plan, you can choose from our range of Retirement Ages available. They are 50, 55, 60, 65, 70 and 75 (ANB). Payments of the monthly Guaranteed Retirement Income Benefit will start one month following your selected Retirement Age.
  4. Capital is guaranteed at the selected Retirement Age.
  5. Guaranteed returns of up to 2.38% per annum is only upon policy maturity. This is based on an entry age of 17 Age Next Birthday (ANB) with eight years limited premium payment term where customer will receive monthly Guaranteed Retirement Income of S$1,000, based on 75 (ANB) as selected Retirement Age.

The information above is for general circulation only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. You may wish to seek advice from a financial adviser regarding the suitability of the product to meet your needs before making a commitment to purchase the product.

A Product Summary in relation to MyRetirement is available and may be obtained from Aviva Ltd and the participating distributors' offices. You should read the product summary before deciding whether to purchase the policy.

Buying a life insurance policy is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid.

The information on this website is not a contract of insurance. Full details of the terms and conditions including exclusions applicable to this product can be found in the policy contract.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact Aviva Ltd or visit the Life Insurance Association or SDIC websites (www.lia.org.sg or www.sdic.org.sg)

Information is correct as at October 2015.

 

 

Want more protection?

Enjoy peace of mind knowing your loved ones are well taken care of in times of need by enhancing your coverage with Critical Illness Premium Waiver, Payer Critical Illness Premium Waiver, EasyTerm, Cancer Premium Waiver and/or EasyPayer Premium Waiver.

  • Critical Illness Premium Waiver1
    Future premiums are waived upon diagnosis of any of the 35 covered critical illnesses so that you can better focus on recovery.
  • Payer Critical Illness Premium Waiver1
    If you are paying for your spouse’s MyRetirement plan and you are diagnosed with any of the covered 35 Critical Illnesses, the future premiums of their plan are waived. This means that you can focus on your recovery and their savings will continue to grow without further financing.
  • EasyTerm2 is a level rider that provides you a lump sum cash payment of up to 5 times your basic plan’s total annual premium so you can pay all or part of your mortgage, pay for your children’s education, or provide for your dependents should the unforeseen occur.
  • Upon diagnosis of Major Cancers3, Cancer Premium Waiver1 waives the future premiums of your basic plan, and the future EasyTerm premiums (if attached) until end of the rider term for Cancer Premium Waiver so as to help you save for your goals.
  • EasyPayer Premium Waiver1 waives all the future premiums and your loved one’s retirement fund will continue to grow in the event of Death, Terminal Illness or Total Permanent Disability of the policyowner.


 

  1. Terms and Conditions apply. For more details on Critical Illness Premium Waiver, Payer Critical Illness Premium Waiver, EasyTerm , Cancer Premium Waiver and EasyPayer Premium Waiver, please refer to the Key Provisions in the Product Summary respectively. It contains details of Exclusions, Waiting Period, Survival Period (if applicable) and Benefit Limitation (if applicable).
  2. EasyTerm provides a lump sum cash payment in the event of your Death, Terminal Illness or Total & Permanent Disability. For details, please refer to the Key Provisions in the EasyTerm’s Product Summary. It contains details of Exclusions, Waiting Period and Benefit Limitation.
  3. Definition of Major Cancers: A malignant tumour positively diagnosed with histological confirmation and characterised by the uncontrolled growth of malignant cells with invasion and destruction of normal tissue. The term malignant tumour includes leukemia, lymphoma and sarcoma. Please refer to the Product Summary for the exact terms and conditions.


 

The information on this page is only an overview of the riders (supplementary benefits) applicable for MyRetirement and not a contract of insurance. The detailed terms and conditions of these riders are provided in the relevant policy contract. The information on this page is published for general information only and does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person. The product summaries in relation to the riders are available and may be obtained from Aviva Ltd and the participating distributors' offices. You should read the product summaries before deciding whether to purchase the riders (supplementary benefits). Buying life insurance products is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value, if any, may be less than the total premium paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you. Information is correct at time of publishing.
 

MyRetirement

icn-pdf MyRetirement Brochure

Please contact your preferred Financial Adviser for a copy of the relevant Product Summary/ies.

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