Retirement Savings Calculator (2026)
Calculate if your monthly savings will reach your retirement goal.
What is a Retirement Savings Calculator?
A retirement savings calculator projects whether your current savings and monthly contributions will reach your retirement goal by a target age. It factors in compound interest to show how your money grows over time, helping you determine if you need to save more or adjust your timeline.
Enter your details to project your retirement savings
Quick Reference
- • CPF Life payouts begin at age 65, providing monthly income for life
- • 2025 CPF retirement sums: BRS $106,500 / FRS $213,000 / ERS $426,000 (increases annually)
- • SRS annual contribution cap: $15,300 (SC/PR) or $35,700 (foreigners)
- • CPF SA/RA earns 4% p.a. interest, with an extra 1% on the first $60,000
- • Statutory retirement age is 63; re-employment age is 68 as of 2026
How Retirement Savings Grow
Your retirement savings grow through two forces: regular monthly contributions and compound interest on your accumulated balance. The longer your money stays invested, the more powerful compounding becomes.
This calculator projects your future savings by taking your current savings, adding your monthly contributions over the years until retirement, and applying your expected annual return rate with monthly compounding.
Your target retirement amount depends on your desired lifestyle in retirement. A common benchmark for Singapore is to aim for monthly retirement income of 60-70% of your pre-retirement income, sustained over 20-30 years.
Current Savings
Your existing retirement nest egg forms the base that earns compound returns from day one.
Monthly Contributions
Regular contributions build your balance steadily. Even small increases in monthly savings compound significantly over decades.
Compound Interest
Interest earned on your interest — the longer the time horizon, the more dramatic the growth curve becomes.
Frequently Asked Questions
How much should I save for retirement in Singapore?expand_more
Financial advisors in Singapore generally recommend having at least $1 million in retirement savings, though the actual amount depends on your desired lifestyle, health costs, and how long you expect to live in retirement. A common rule of thumb is to aim for 60-70% of your pre-retirement monthly income. CPF LIFE payouts, SRS withdrawals, and personal savings all contribute to this goal.
What is the recommended retirement age in Singapore?expand_more
The official retirement age in Singapore is 63, with a re-employment age of 68 as of 2026. However, many Singaporeans plan to retire earlier or later depending on their financial situation. CPF LIFE payouts begin at age 65, so retiring before that requires sufficient personal savings to bridge the gap.
How does compound interest impact retirement savings?expand_more
Compound interest has a significant effect over long time horizons. For example, saving $1,000 per month at 5% annual return for 30 years yields approximately $832,000 — but only $360,000 of that is your own contributions. The remaining $472,000 comes from compound interest. Starting early is the single most powerful factor in building retirement wealth.
How can I increase my retirement savings rate?expand_more
Key strategies include maximising CPF contributions and voluntary top-ups (which also provide tax relief), contributing to SRS up to the $15,300 annual cap, automating monthly transfers to a dedicated investment account, reducing high-interest debt first, and gradually increasing your savings rate by 1-2% each year as your income grows.
Sources
- • CPF Board (cpf.gov.sg) — retirement sums (BRS, FRS, ERS), CPF interest rates, and CPF Life payout estimates
- • IRAS (iras.gov.sg) — SRS contribution caps and tax relief on CPF voluntary top-ups
- • MOM (mom.gov.sg) — statutory retirement and re-employment ages