Deferment Bonus

Also referred to as D and V Bonuses – Deferment Bonus and Voluntary Deferment Bonus.

The DV Bonuses are incentives offered under the CPF Schemes by the government as a way of enhancing your savings after retirement. Depending on your age, you are eligible for either or both these bonuses. Additionally, you can also be eligible for these bonuses even if you have applied for other savings or annuity schemes under CPF.

The D-Bonus was introduced after the PEA or Payout Eligibility Age was raised by the government in 2008. This incentive would provide additional savings to members who had difficulties maintaining their CPF savings.

The V-Bonus was introduced by the government as a way of encouraging members to start their monthly payouts on a later day. Each deferment would offer extra savings and incentives.

What is a Deferment Bonus or D-Bonus?

The D-Bonus is an incentive that is credited to your Retirement Account (RA) as a way of improving your savings after retirement. It was introduced 2008 after members had difficulty the PEA was raised by the government. The PEA currently is 65 years.

Eligibility Criteria:

  • You are eligible for a D-Bonus if you are born between 1950 and 1957.
  • You are eligible for a D-Bonus if you have purchased your own annuity along with your Retirement Account savings.
  • You are eligible for D-Bonus even if you purchased CPF LIFE.
  • You will receive this bonus a month after you turn 55.

D-Bonus was introduced because of the rise in the PEA. Therefore, you cannot choose to forego your D-Bonus to start your payouts earlier at the age of 62. The PEA still remains 65 years. D-Bonus amount is capped at S$30,000.

What is Voluntary Deferment Bonus or V-Bonus?

The V-Bonus is an incentive that you will receive if you have chosen to voluntarily defer your monthly payout every 12 months for a continuous period of time from your PEA. The government has provided you with this incentive so that you will be motivated to start your monthly payouts at a later date.

Eligibility Criteria:

  • You are eligible for a V-Bonus if you are born between 1944 and 1953.
  • All CPF members including Singapore Citizens and Permanent Residents are eligible for V-Bonus.
  • You are eligible for V-Bonus even if you purchased CPF LIFE and/or any other annuities.
  • You are NOT eligible for V-Bonus if you have already started your monthly payouts and choose to stop them later. No pro-rated amount in the form of V-Bonus is provided.
  • You will receive your V-Bonus on your birthday month.

Note: If you want to know the D-Bonus and V-Bonus you are eligible for, you can use the D-Bonus and V-Bonus Calculator available on the official CPF website to get an estimate for the same.

Crediting D-Bonus and V-Bonus

If you are eligible for D-Bonus and V-Bonus, the same will be credited into your Retirement Account (RA) to enhance your retirement adequacy.

The D-Bonus and V-Bonus are both incentives offered to enhance your retirement with higher savings. You can defer your monthly payouts for as long as you wish to continue earning the V-Bonus (if you meet the eligibility criteria) even if you do not qualify for the D-Bonus.

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