The 10 Best Retirement Income Plans in Singapore

Compare Singapore retirement income plans for monthly payouts, flexibility, SRS use and long-term insurer strength.

Reviewed by our editors · Updated July 2026 · How we rank

Our verdict: RetireReady Plus (III) is the best retirement income plan in Singapore right now - best balance of income flexibility and protection. Gro Retire Flex Pro II runs it closest.

Retirement income plans in Singapore are usually participating insurance plans that turn premiums into future monthly payouts, sometimes with guaranteed income, non-guaranteed bonuses, disability benefits or SRS payment options. The key comparison is not only illustrated yield, but when payouts start, how long they last, whether income can step up, and what happens if you surrender early.

For most Singapore residents, these plans work best as a supplement to CPF LIFE, cash savings and investments. Before committing, check the guaranteed portion, premium term, payout term, insurer financial strength, policy charges, retrenchment or disability features, and whether the plan still fits if retirement is delayed or healthcare costs rise.

01
RetireReady Plus (III)
89/100
A flexible Manulife plan with guaranteed monthly income and loss of independence benefits.
8 Cross Street, #15-01 Manulife Tower, Singapore 048424
manulife.com.sg
“Best balance of income flexibility and protection.” - our editors
THEBESTSG STAFF REVIEW
This is one of the more rounded retirement income plans for Singapore buyers who want customisation without moving into pure investment-linked risk. What stands out is the combination of income planning, no health check-up, SRS compatibility and disability-linked income support. Manulife's local presence and clear product structure also help. The trade-off is that, like most participating-style retirement plans, the headline retirement outcome should be read beside the guaranteed schedule, because non-guaranteed bonuses can change over time.
Why RetireReady Plus (III) made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It earns top spot for its broad flexibility, lifelong income option, practical disability support and strong fit for Singapore retirement planning beyond CPF LIFE.
RetireReady Plus (III) is Manulife Singapore's retirement savings plan built around Guaranteed Monthly Income. Policyholders can choose their premium payment term, retirement age and income payout period, with the option of receiving income for life or for selected fixed periods depending on the policy setup. The plan also includes features such as retrenchment payout, Premium Freeze and Loss of Independence Income Benefit, which can add extra monthly support if severe disability conditions occur. It accepts cash and, for eligible single premium and first-party policies, SRS payments.
THE EDITORS' SCORECARD - 89/100
Unique Service Proposition18/20
Quality of Service19/20
Accessibility17/20
Value for Money18/20
Innovation17/20
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02
Gro Retire Flex Pro II
88/100
Income Insurance's retirement plan offers adjustable monthly payouts and flexible payout timing.
75 Bras Basah Road, Income Centre, Singapore 189557
income.com.sg
“Most useful for flexible retirement timing.” - our editors
THEBESTSG STAFF REVIEW
Income's plan is especially relevant for Singaporeans whose retirement age is not fixed. The ability to shift payout timing is useful because many people now phase into retirement, take contract work, or delay stopping work entirely. Income is also a familiar local name with broad consumer reach. The honest limitation is that this is still a long-term insurance commitment, so buyers need to be comfortable with surrender penalties and the split between guaranteed and projected benefits.
Why Gro Retire Flex Pro II made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It ranks highly because its payout-start flexibility solves a real local problem: retirement dates are often uncertain, but income planning still has to start early.
Gro Retire Flex Pro II is an Income Insurance savings plan for people planning future retirement cash flow. It provides monthly cash payouts during retirement, with choices around premium payment term and payout period. A key feature is the ability to adjust when payouts may begin by up to five years, giving policyholders some room if they retire earlier or later than expected. The plan also includes a retrenchment-focused feature and is positioned for buyers who want structured retirement income rather than relying only on ad hoc withdrawals from savings.
THE EDITORS' SCORECARD - 88/100
Unique Service Proposition18/20
Quality of Service18/20
Accessibility18/20
Value for Money17/20
Innovation17/20
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03
AIA Retirement Saver (IV)
87/100
AIA's retirement plan provides guaranteed monthly income over 15 or 20 years.
1 Finlayson Green, Singapore 049246
aia.com.sg
“Strong mainstream option with clear income structure.” - our editors
THEBESTSG STAFF REVIEW
AIA Retirement Saver (IV) is a strong mainstream choice for buyers who want a recognisable insurer, clear payout windows and a straightforward monthly income structure. The capital guarantee condition at retirement age is a meaningful anchor, and the option to begin income from age 50 gives it appeal for earlier retirement planners. The trade-off is that the payout period is not lifelong, so it works better as a planned income layer than a full longevity solution.
Why AIA Retirement Saver (IV) made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It stands out for clear guaranteed income, capital guarantee conditions and strong accessibility from a major insurer with an established Singapore service network.
AIA Retirement Saver (IV) is a participating retirement insurance plan that helps policyholders build a future income stream without a medical check-up. It offers capital guarantee at the selected retirement age, guaranteed monthly income over 15 or 20 years, and the ability to customise the desired income amount and payout start age from as early as 50. The plan also offers potential monthly dividends, optional premium waiver riders and SRS-related positioning for retirement funding. Premiums may be paid as a single premium or over selected premium terms.
THE EDITORS' SCORECARD - 87/100
Unique Service Proposition17/20
Quality of Service18/20
Accessibility18/20
Value for Money17/20
Innovation17/20
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04
PRUActive Retirement II
85/100
Prudential's customisable retirement plan offers non-decreasing monthly income potential.
Prudential Tower, 30 Cecil Street, #01-01, Singapore 049712
prudential.com.sg
THEBESTSG STAFF REVIEW
Prudential has built this plan around customisation, and that is its strongest point. The range of payout ages and payout periods is broader than many plans, making it suitable for buyers who are actively modelling different retirement scenarios. The disability and spouse continuity features are also sensible additions. The trade-off is that the step-up income element depends on participating fund performance, so conservative buyers should focus first on the guaranteed income schedule.
Why PRUActive Retirement II made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It earns a high rank for flexible payout design, broad retirement age choices and useful continuity features from a well-established insurer.
PRUActive Retirement II is Prudential Singapore's customisable retirement insurance plan. It lets policyholders select a single premium or regular premium term, choose a payout age from 50 to 90, and set a payout period of 10, 15, 20, 25 or 30 years. The plan is designed so monthly income does not decrease year on year, subject to participating fund performance, and includes features such as Accidental Disability Benefit and Surviving Spouse Benefit. SRS funds can be used for the single premium payment option.
THE EDITORS' SCORECARD - 85/100
Unique Service Proposition18/20
Quality of Service18/20
Accessibility17/20
Value for Money16/20
Innovation16/20
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05
GREAT Retire Income
84/100
Great Eastern's retirement income plan offers monthly payouts and disability-related extras.
1 Pickering Street, #01-01 Great Eastern Centre, Singapore 048659
greateasternlife.com
THEBESTSG STAFF REVIEW
Great Eastern is one of Singapore's most established life insurers, and GREAT Retire Income fits buyers who prefer a traditional retirement income policy with a local household name. The monthly payout design is easy to understand, and the disability-linked feature is helpful for later-life planning. The trade-off is that buyers need to compare it carefully against GREAT Lifetime Payout 3 and GREAT Prime Rewards, because Great Eastern's retirement range has overlapping income-oriented options.
Why GREAT Retire Income made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It is selected for its clear retirement income focus, established insurer backing and practical disability feature for retirees who want predictable cash flow.
GREAT Retire Income is a Great Eastern retirement income plan providing a monthly stream of cash payouts for retirement. It is positioned as a participating endowment-style plan with flexibility around budget and retirement needs, and includes additional payouts upon disability. Great Eastern lists it under retirement income, alongside other wealth-oriented plans that provide monthly cash payouts and guaranteed income streams. The product is suited to policyholders who want a familiar insurer, structured monthly payouts and protection-linked features rather than a pure investment account.
THE EDITORS' SCORECARD - 84/100
Unique Service Proposition17/20
Quality of Service18/20
Accessibility17/20
Value for Money16/20
Innovation16/20
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06
GREAT Lifetime Payout 3
83/100
A Great Eastern lifetime income plan with guaranteed monthly payouts.
1 Pickering Street, #01-01 Great Eastern Centre, Singapore 048659
greateasternlife.com
THEBESTSG STAFF REVIEW
This plan is appealing because it speaks directly to longevity risk. A fixed payout term can be enough for some households, but lifetime payouts are valuable when family history, health and retirement plans point to a long post-work period. Great Eastern's brand strength is also a plus. The main trade-off is that lifetime payout structures can feel less flexible than plans with adjustable payout terms, so buyers should check liquidity and surrender values carefully before committing.
Why GREAT Lifetime Payout 3 made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It makes the list because lifetime guaranteed monthly payout is a core retirement-income feature, and Great Eastern has the scale to support long-term commitments.
GREAT Lifetime Payout 3 is a Great Eastern plan designed to provide lifetime guaranteed monthly payouts. It is listed under the insurer's retirement income products and combines guaranteed monthly income with capital and protection features in one plan. Great Eastern positions the plan for policyholders who want lifetime income rather than a fixed payout term, with options to receive additional guaranteed returns. It is particularly relevant for buyers who worry about outliving savings and want an insurer-backed income stream to sit alongside CPF LIFE and other assets.
THE EDITORS' SCORECARD - 83/100
Unique Service Proposition17/20
Quality of Service18/20
Accessibility16/20
Value for Money16/20
Innovation16/20
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07
HSBC Life Indexed Flexi Income
82/100
HSBC Life's retirement plan links income planning with indexed return potential.
38 Beach Road, #03-11, South Beach Tower, Singapore 189767
insurance.hsbc.com.sg
THEBESTSG STAFF REVIEW
HSBC Life brings the strength of a global financial group and a growing Singapore insurance platform. Indexed Flexi Income is interesting for buyers who want retirement income planning but also want some upside mechanism beyond standard participating bonuses. That said, index-linked structures need more careful reading than plain monthly income plans. The trade-off is complexity: buyers should understand caps, floors, participation terms and how income is calculated before comparing it with more traditional retirement policies.
Why HSBC Life Indexed Flexi Income made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It is included for reputable insurer backing and a differentiated indexed income approach that may appeal to more financially confident retirement planners.
HSBC Life Indexed Flexi Income is listed by HSBC Life Singapore under its retirement product category. The plan is designed for retirement income planning and sits within HSBC Life's broader Singapore insurance range after the integration of AXA Singapore into HSBC Life. As an indexed flexi income product, it is aimed at buyers who want income potential linked to index performance rather than a purely traditional savings plan. It may suit policyholders comfortable with a more market-linked structure while still using an insurance wrapper.
THE EDITORS' SCORECARD - 82/100
Unique Service Proposition17/20
Quality of Service17/20
Accessibility16/20
Value for Money15/20
Innovation17/20
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08
Gro Annuity Pro
81/100
Income Insurance's immediate annuity pays lifetime income for eligible policyholders.
75 Bras Basah Road, Income Centre, Singapore 189557
income.com.sg
THEBESTSG STAFF REVIEW
Gro Annuity Pro is one of the more literal annuity-style products here, because it is built for lifetime annuity payouts rather than just fixed-term retirement cash flow. Income's local consumer base and clear payout frequency options are strengths. The important trade-off is access: it is not a broad retail plan for everyone, as Income states it is for policyholders exercising an annuity option where applicable. For eligible buyers, though, it remains a serious income tool.
Why Gro Annuity Pro made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It earns its place because true lifetime annuity payouts are highly relevant, even though eligibility is narrower than most mainstream retirement plans.
Gro Annuity Pro is a participating single premium annuity plan from Income Insurance. It provides lifetime annuity payouts on a monthly, quarterly, half-yearly or yearly basis, with potential bonuses based on the performance of the Life Participating Fund. It also provides death coverage through a lump sum payout where applicable. The plan is available to policyholders exercising an annuity option in their policies, and only immediate annuity is available. Entry age is listed from 40 to 85 years old, with payment by single premium.
THE EDITORS' SCORECARD - 81/100
Unique Service Proposition17/20
Quality of Service16/20
Accessibility15/20
Value for Money16/20
Innovation17/20
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09
i-Retire (II)
80/100
China Taiping's i-Retire (II) provides monthly income after accumulation.
sg.cntaiping.com
THEBESTSG STAFF REVIEW
i-Retire (II) is a straightforward option for buyers who want defined accumulation followed by monthly income for a set period. China Taiping is a recognised insurer in Singapore, and the plan's 10, 20 or 30-year payout choice is easy to frame against expected retirement spending. The trade-off is that public product detail is less rich than some competitors' pages, so buyers may need an adviser conversation and benefit illustration before they can compare guarantees and projected returns properly.
Why i-Retire (II) made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It is selected for its clean monthly income design, flexible payout periods and backing from an established insurer operating in Singapore.
i-Retire (II) is China Taiping Singapore's retirement insurance plan listed under its wealth and retirement category. It is a flexible plan that provides monthly income after the premium payment term and accumulation period. Policyholders can choose a premium payment term that suits their financial needs and receive monthly income for 10, 20 or 30 years from the end of the selected accumulation period. It is part of China Taiping's wider Singapore insurance range, which includes life, wealth, savings, legacy and general insurance products.
THE EDITORS' SCORECARD - 80/100
Unique Service Proposition16/20
Quality of Service16/20
Accessibility15/20
Value for Money16/20
Innovation17/20
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10
AIA Platinum Retirement Elite
79/100
AIA's higher-end retirement solution targets wealth acceleration and future income planning.
1 Finlayson Green, Singapore 049246
aia.com.sg
THEBESTSG STAFF REVIEW
This is not the most straightforward product for a typical mass-market retirement buyer, but it has a role for affluent clients who want retirement planning linked to wealth acceleration. AIA's platform, adviser network and broader planning ecosystem are strengths. The trade-off is suitability: buyers mainly seeking simple guaranteed monthly income may find AIA Retirement Saver (IV) easier to compare. This plan deserves attention only if the added investment and wealth planning angle is genuinely needed.
Why AIA Platinum Retirement Elite made TheBest SG · full scorecardLess
WHY THEY MADE THEBEST SG
It rounds out the list as a reputable premium retirement solution for higher-net-worth clients who need more than a basic income plan.
AIA Platinum Retirement Elite is part of AIA Singapore's Platinum wealth accumulation range and is positioned as a retirement plan for customers with higher wealth planning needs. AIA lists it under retirement solutions alongside both wealth acceleration and wealth accumulation options. The plan is suited to policyholders who want retirement planning integrated with broader wealth management, investment access and legacy considerations rather than a simple guaranteed income-only structure. It benefits from AIA's large Singapore advisory network and institutional investment capabilities through the wider AIA group.
THE EDITORS' SCORECARD - 79/100
Unique Service Proposition17/20
Quality of Service16/20
Accessibility14/20
Value for Money15/20
Innovation17/20
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Best Retirement Income Plans in Singapore compared

Rank	Name	Known for	Price
#1	RetireReady Plus (III)	retirement income · monthly payout	-
#2	Gro Retire Flex Pro II	retirement income · flexible payout	-
#3	AIA Retirement Saver (IV)	monthly income · capital guarantee	-
#4	PRUActive Retirement II	prudential · customisable	-
#5	GREAT Retire Income	great eastern · monthly payout	-
#6	GREAT Lifetime Payout 3	lifetime payout · great eastern	-
#7	HSBC Life Indexed Flexi Income	hsbc life · indexed income	-
#8	Gro Annuity Pro	annuity · lifetime income	-
#9	i-Retire (II)	china taiping · monthly income	-
#10	AIA Platinum Retirement Elite	aia · premium plan	-

Retirement Income Plans in Singapore - your questions

Are retirement income plans the same as CPF LIFE?

No. CPF LIFE is the national lifelong annuity scheme for CPF members, while insurer retirement income plans are optional private policies. They can supplement CPF LIFE but usually have different guarantees, payout periods, bonuses and surrender terms.

Can I use SRS money to buy a retirement income plan?

Some plans allow SRS funds, especially single premium or selected retirement savings policies. Always confirm with the insurer because SRS eligibility can depend on payment option, policy currency and product version.

What should I compare before buying?

Compare guaranteed monthly income, non-guaranteed bonuses, premium term, payout start age, payout duration, capital guarantee conditions, disability or retrenchment features, fees, and the cost of early surrender.

Are illustrated yields guaranteed?

Usually not fully. Many brochures show projected yields based on participating fund assumptions. The guaranteed benefit schedule is the more reliable baseline, while bonuses and dividends depend on future fund performance.

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The 10 Best Retirement Income Plans in Singapore

Best Retirement Income Plans in Singapore compared

Retirement Income Plans in Singapore - your questions

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