I love the original headline for this piece of news: CPF Life payouts are for life
Read a little more and you will realise amendments have been made to the CPF Act that lets the Gahmen decide what you get from the Lifelong Income Fund, that is, "premiums and payouts are at the Government's discretion and will vary with factors such as interest rates".
The CPF Life scheme is compulsory but you get no guaranteed income. It truly is win-win — for them.
You can't choose, gahmen won't guarantee, what a deal.
As someone else put it, "What good is an annuity if income stream from it is not guaranteed?"
Just another more way for them to lock your money up longer and longer.
Oops, I mean just another way for them to help you keep your money safe for you until you die.