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Guides / CPF and retirement income

10 ways to add to your income after you stop full-time work in Singapore

Updated 1 October 2026

For a lot of people in their 60s, the problem isn't a lack of savings. It's the gap between what CPF LIFE will pay each month and what the household actually spends. Sometimes that gap is only a few hundred dollars, and there are more ways to close it than most people know.

Here are ten that work under Singapore rules. Some bring in cash. Others raise the monthly payout you already have coming.

Keep earning, on your terms

1. Stay on with your employer

From 1 July 2026 the minimum retirement age is 64 and the re-employment age is 69. If you meet the re-employment criteria, you can keep working for the same employer past 64. It's worth asking early whether a lighter role or a shorter week is possible.

CPF contributions keep going while you work. For 2026, the total rate is 34% of wages for employees above 55 to 60, 25% for above 60 to 65, and 16.5% for above 65 to 70. Part of that goes to your Retirement Account until you've set aside your Full Retirement Sum, so a few more working years can lift your future payouts as well as your income today.

2. Sell what you already know

Bookkeeping, tuition, translation, project work for a former employer. A day or two a week of paid work you're already good at often pays better than a new side business, and it costs almost nothing to start.

3. Turn a hobby into small orders

Baking, tailoring, repairs, photography. Keep it small and treat the first year as a test. If it covers its own costs and pays for your kopi, that's a fair result.

Use the home you own

4. Rent out a spare bedroom

HDB lets Singapore Citizen and Permanent Resident owners rent out spare bedrooms. Each tenant must stay at least six months. Short stays for tourists aren't allowed in HDB flats, and in private homes anything under three consecutive months is illegal, with a fine of up to $5,000 and heavier penalties for repeat cases. So the holiday-rental apps are out. A long-term lodger is the legal version.

5. Sell part of your lease back to HDB

The Lease Buyback Scheme suits people who want to stay put. All owners must be 65 or older, household income must be $16,000 a month or less, and you need at least 20 years of lease to sell after keeping enough for the youngest owner to live to 95. The proceeds top up your Retirement Account and raise your CPF LIFE payouts. You can't sell the flat on the open market or rent out the whole flat afterwards.

6. Move to a smaller flat

If at least one owner is a Singapore Citizen aged 55 or above, the Silver Housing Bonus pays up to $40,000 per household when you move to a 3-room or smaller flat and commit a net increase of up to $60,000 to your Retirement Account. That RA money then works as extra CPF LIFE income. The trade-offs are in our post on downsizing for retirement.

Get more out of CPF and SRS

7. Start CPF LIFE later

You can start payouts any time from 65 to 70. Each year you wait raises them by up to 7%, or up to 35% if you wait until 70. CPF's own example: a man who is 55 in 2026 with $220,400 in his RA, on the Standard Plan, gets about $1,780 a month from 65 or about $2,380 from 70. If you're still working at 65, waiting can make sense.

8. Top up your Retirement Account

From 55 you can top up your RA in cash up to the current Enhanced Retirement Sum, which is $440,800 in 2026. CPF estimates that amount pays a man on the Standard Plan about $3,440 a month from 65. Top-ups are permanent. You can't take the money back out, so keep your emergency cash separate first.

If a parent or spouse qualifies for the Matched Retirement Savings Scheme, the Government matches cash top-ups to their RA dollar for dollar, up to $2,000 a year and $20,000 over their lifetime. Top-ups that get the grant don't also get tax relief.

9. Time your SRS withdrawals

If you have a Supplementary Retirement Scheme account, withdrawals are penalty-free from the statutory retirement age that applied when you made your first contribution. For new contributors from 1 July 2026 that age is 64. Only half of each penalty-free withdrawal counts as taxable income, and you can spread withdrawals over ten years. IRAS gives the example of a person with no other taxable income who takes out $40,000 a year and pays no tax on it. How it works for you depends on your other income, so check the IRAS page or ask a tax professional.

Check what you're entitled to

10. Silver Support

This is a quarterly cash payment for Singapore Citizens aged 65 and above who earned less during their working years. You don't apply. CPF checks you each year against lifetime CPF contributions, flat type and household income per person. Current payments range from $215 to $1,080 a quarter. Many readers of this blog won't qualify themselves, but an older parent might.

Choosing between them

You won't need all ten. A common pairing is some paid work in your early 60s plus either a later CPF LIFE start or a housing move. Which pair fits depends on how much you need, when you need it, and whether you'd rather stay in your home.

If you'd like to see which two fit your numbers, book a free retirement review and bring your latest CPF statement.

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