Endowment Plan Returns Calculator Singapore 2026
Calculate your guaranteed and projected maturity value from any Singapore endowment plan — free calculator with real-time results in SGD.
📋 Endowment Plan Details
Understanding Endowment Plan Returns for Singapore Investors
Endowment plans are one of Singapore’s most popular savings-cum-insurance products, offered by major insurers including NTUC Income, Etiqa, Manulife, AIA, Prudential, and Great Eastern. According to the Life Insurance Association of Singapore (LIA), endowment policies accounted for over 40% of new policy weighted premiums in 2024, reflecting their continued appeal to risk-averse Singaporeans seeking capital protection with modest growth. Unlike unit trusts or equities, endowment plans offer a guaranteed maturity sum — a floor below which your returns cannot fall — plus a non-guaranteed bonus component tied to the insurer’s par fund investment performance. Understanding how these two components interact is critical before committing to a 10–25 year savings commitment. This calculator lets you model both scenarios side-by-side in SGD so you can compare endowment plan returns against alternatives like CPF Special Account (4.08% p.a. as at Q1 2026), Singapore Savings Bonds (~2.8% average 10-year, June 2026), or a DCA investment strategy into the STI ETF.
Not financial advice. All figures are for educational reference only. Data as at Q2 2026 unless noted. Always consult a licensed financial adviser before purchasing any insurance product.
Guaranteed vs Non-Guaranteed Returns: What’s the Difference?
Every Singapore endowment plan illustration shows two sets of projections. The guaranteed portion is what the insurer is contractually obligated to pay you at maturity — this typically ranges from 1.0% to 2.0% p.a. on regular premium plans, and up to 2.5% on single premium plans. The non-guaranteed bonus (also called reversionary bonus or terminal bonus) depends entirely on the par fund’s investment returns. MAS requires all Singapore par fund projections to be shown at two scenarios: 4.25% p.a. (Scenario A) and 3.25% p.a. (Scenario B) gross investment return. These are not promises — they are standardised illustrations. In recent years (2020–2024), many Singapore par funds returned 3.5%–4.5% net of expenses, broadly in line with Scenario A. However, a prolonged low-interest environment could compress non-guaranteed bonuses significantly.
How Endowment Plans Fit Into Singapore’s Investment Landscape
Singaporeans often use endowment plans for three specific goals: (1) building a children’s education fund over 15–20 years, (2) accumulating a lump sum for a housing upgrade or retirement top-up, or (3) optimising SRS (Supplementary Retirement Scheme) tax savings while preserving capital. Endowment premiums can be paid via SRS funds, generating up to S$15,300 in annual tax relief (effective 2024), which significantly boosts after-tax returns for investors in the 15%–22% income tax bracket. To see how much you could save on taxes, use our SRS Tax Savings Calculator.
How to Use This Endowment Plan Returns Calculator
- Enter your premium amount: Type in the SGD amount you plan to pay per instalment (monthly, quarterly, or annually) — or your single lump sum if choosing a single-premium plan.
- Select payment frequency: Choose monthly, quarterly, annual, or lump sum. The calculator automatically annualises your premiums to compute the correct total outlay over the policy tenor.
- Set the policy tenor: Drag the slider from 5 to 25 years. Most Singapore endowment plans run 10, 15, 20, or 25 years. Use 10 years for shorter education or savings goals.
- Set the guaranteed return rate: Check your policy illustration for the guaranteed rate. Typical range: 1.0%–2.0% for regular premium plans. If unsure, use 1.5% as a conservative baseline.
- Set the projected return rate: MAS standardised projections use 3.25% (Scenario B) and 4.25% (Scenario A). Use 4.25% for optimistic projections and 3.25% to stress-test downside.
The calculator instantly shows your total premiums paid, guaranteed maturity value, projected maturity value, bonus amounts for each scenario, and the effective annual yield. Compare the projected yield against alternatives on our T-Bill, SSB & Fixed Deposit Comparison Calculator.
Pro tip: Combine this calculator with our Retirement Planning Calculator to see how your endowment plan maturity payout fits into your overall retirement income plan.
Contents — Click to Expand
What Is a Singapore Endowment Plan?
A Singapore endowment plan is a hybrid life insurance and savings product that accumulates cash value over a fixed term and pays out a lump sum (the maturity benefit) at the end of the policy period. Unlike pure term life insurance which pays only on death or total permanent disability, an endowment plan is designed to mature at a specific date — making it a structured savings vehicle with a life insurance element built in.
The policy works by placing your premiums into the insurer’s participating (par) fund, a pooled investment vehicle that typically holds 50–70% bonds, 20–35% equities, and 5–15% alternative assets (as at Q1 2026). The par fund generates investment returns, a portion of which is distributed to policyholders as bonuses. MAS regulates all par funds under the Insurance Act and requires participating business to be managed prudently, with bonuses declared conservatively to ensure long-term sustainability.
Singapore endowment plans come in two main structures: regular premium plans (you pay monthly, quarterly, or annually over the policy term) and single premium plans (you pay one lump sum upfront). Single premium plans typically offer higher guaranteed rates (1.8%–2.5%) because the insurer has immediate access to the full capital. Regular premium plans offer lower guaranteed rates but provide the discipline of forced regular savings — useful for Singaporeans building an education fund or retirement nest egg over time.
How Endowment Plan Returns Work: Par Fund & Bonuses
The total maturity value of a Singapore endowment plan has two components. The guaranteed maturity benefit is stated in your policy contract — it is the minimum sum you will receive at maturity regardless of investment performance. This is typically expressed as a multiple of annual premium (e.g., “105% of total premiums paid” for a 10-year plan at 1.5% guaranteed rate). The non-guaranteed bonus is distributed from the par fund’s surplus after meeting guaranteed obligations, expenses, and prudential reserves.
MAS Circular FAM-03/2023 requires insurers to illustrate non-guaranteed bonuses at a standardised 4.25% p.a. gross investment return (Scenario A) and 3.25% p.a. (Scenario B). These are benchmarks, not forecasts. In practice, NTUC Income’s par fund returned approximately 4.1% in 2023, while Great Eastern’s returned approximately 3.8% — both broadly in line with Scenario A. However, in the low-rate environment of 2020–2022, some par funds returned below Scenario B.
| Scenario | Gross Fund Return | Typical Total Yield (after charges) | Probability |
|---|---|---|---|
| Guaranteed Only | N/A | 1.0%–2.0% p.a. | 100% (contractual) |
| Scenario B (MAS) | 3.25% | 2.5%–3.2% p.a. | Downside case |
| Scenario A (MAS) | 4.25% | 3.5%–4.3% p.a. | Base case (recent avg.) |
Endowment Plans vs SSB, FD & CPF OA in Singapore
The key question every Singapore investor asks: how do endowment plan returns compare to simpler savings instruments? As at Q2 2026, here is a like-for-like comparison for a 10-year S$500/month regular savings commitment:
| Instrument | Current Rate | Liquidity | Capital Guaranteed? | 10-yr Est. Return |
|---|---|---|---|---|
| Endowment Plan (Guar.) | 1.0%–2.0% | Low (surrender loss) | Yes | 1.5% p.a. |
| Endowment Plan (Proj.) | 3.5%–4.3% | Low | Partial | ~3.8% p.a. |
| SSB (Jun 2026) | ~2.8% avg 10-yr | Monthly redemption | Yes (Govt) | 2.8% p.a. |
| CPF OA | 2.5% p.a. | Restricted (housing/inv) | Yes (Govt) | 2.5% p.a. |
| CPF SA (under 55) | 4.08% p.a. | Very low (locked) | Yes (Govt) | 4.08% p.a. |
| Fixed Deposit | ~2.8%–3.5% (Jun 2026) | Medium (3–12 months) | Yes (SDIC) | Varies (need to renew) |
The key insight: CPF SA beats endowment plans on guaranteed returns for most Singaporeans under 55. But endowment plans offer an advantage when CPF SA is already maximised, when using SRS funds (where CPF is not accessible), or when you need a disciplined long-term savings commitment with life insurance coverage included. For comparing fixed income alternatives, use our T-Bill, SSB & FD Comparison Calculator.
Best Endowment Plans in Singapore 2026
As at Q2 2026, the Singapore endowment plan market is led by six major insurers. Here’s how their headline products compare for a 10-year regular premium plan:
| Insurer | Product | Min. Premium | Guar. Rate | Proj. Yield (4.25% scenario) |
|---|---|---|---|---|
| NTUC Income | Gro Capital Ease | S$200/mth | ~1.5% | ~3.8% |
| Etiqa | Tiq 3-Year Endowment | S$5,000 lump | ~2.5% | N/A (fixed) |
| Manulife | IncomeEase Plus | S$200/mth | ~1.3% | ~4.0% |
| AIA | Smart Wealth Builder | S$300/mth | ~1.2% | ~4.1% |
| Prudential | PruWealth | S$300/mth | ~1.4% | ~3.9% |
| Great Eastern | GREAT SuperSavings | S$200/mth | ~1.5% | ~3.7% |
Disclaimer: Premium and yield figures above are indicative as at Q2 2026 based on publicly available product brochures. Always request a personalised benefit illustration from a licensed financial adviser before purchasing. Projected yields are non-guaranteed. Data sourced from LIA Singapore and individual insurer websites (all external links LIA Singapore).
For a holistic platform comparison to invest your SRS or CPF funds, consider robo-advisors like Endowus (the only robo that accepts CPF and SRS) or Syfe as potential complements or alternatives to endowment plans depending on your risk profile.
SRS Tax Strategy for Endowment Plans
One of the most underutilised strategies in Singapore is funding endowment plans through the Supplementary Retirement Scheme (SRS). Here’s why it’s powerful: SRS contributions of up to S$15,300/year (Singapore Citizens and PRs) earn a dollar-for-dollar income tax deduction. For a person in the 15% tax bracket, that’s S$2,295 in immediate tax savings per year — essentially a 15% guaranteed return on top of whatever the endowment plan itself yields.
To execute this strategy: (1) make your annual SRS contribution before 31 December, (2) direct the SRS funds to purchase a participating endowment plan from an approved SRS operator (all six major insurers qualify), (3) at maturity, the endowment proceeds return to your SRS account, and (4) at retirement (from age 62), you withdraw your SRS funds over up to 10 years — 50% of each withdrawal is exempt from income tax, effectively halving your tax liability. Use our SRS Tax Savings Calculator to model your exact tax savings, and our SRS Withdrawal Tax Calculator to plan your retirement drawdown.
One important caveat: SRS endowment plans are subject to the same early termination penalties as regular plans. Surrendering an SRS-funded endowment plan before maturity triggers both the insurer’s surrender charges and a 5% SRS penalty on top of the full withdrawal being taxed as income. Plan your SRS endowment investment to mature at or after your intended SRS withdrawal date.
Endowment Plans as a Passive Income & Retirement Strategy
For Singaporeans building a retirement income portfolio, endowment plans can serve as the “capital-protected core” alongside higher-yielding assets like Singapore REITs (yielding 5%–7.5% as at Q2 2026) and CPF LIFE payouts. The typical allocation for a conservative Singapore retiree might look like: 30% in CPF LIFE for lifetime annuity income, 25% in endowment plans for capital protection, 30% in S-REITs or dividend ETFs for income, and 15% in cash/SSB as emergency buffer.
Endowment plans are particularly useful for Singaporeans who cannot tolerate capital loss but want to beat CPF OA and Fixed Deposit rates over the long term. The non-guaranteed projected return of 3.5%–4.3% p.a. (Scenario A) meaningfully outpaces CPF OA (2.5%) and current T-bill yields (1.44% as at June 2026), making them a practical “middle-of-the-risk-spectrum” product for risk-averse retirees and pre-retirees. Use our Retirement Planning Calculator and Passive Income Guide to build your complete retirement income plan.
Frequently Asked Questions
What is a good return for an endowment plan in Singapore?
A good projected return for a Singapore endowment plan at the MAS Scenario A (4.25% gross fund return) is approximately 3.5%–4.3% p.a. effective yield after charges. On a guaranteed basis, 1.5%–2.0% p.a. is considered competitive as at Q2 2026. Single premium short-tenor plans (3–5 years) can offer guaranteed rates of 2.5%–3.0%, which is attractive when T-bill yields have dropped to 1.44% (June 2026). Always compare against CPF SA (4.08%, the risk-free Singapore benchmark) before committing.
Is an endowment plan better than a Singapore Savings Bond (SSB)?
It depends on your priorities. SSBs (June 2026 average 10-year yield ~2.8%) offer complete flexibility — you can redeem monthly without penalty — and are backed by the Singapore Government. Endowment plans offer potentially higher projected returns (3.5%–4.3% p.a.) but lock your money in with significant surrender charges in the early years. If liquidity matters, choose SSB. If you need forced savings discipline and want potential upside from par fund performance, an endowment plan may suit you better.
How much will I get if I pay S$500/month for 10 years in an endowment plan?
Paying S$500/month for 10 years means total premiums paid of S$60,000. At a 1.5% guaranteed rate, you’d receive approximately S$64,900 at maturity (guaranteed maturity value). At the MAS Scenario A projected rate of 4.25%, the projected maturity value rises to approximately S$74,800 — a projected bonus of ~S$14,800 over and above your premiums. Use the calculator above to model your exact inputs.
What is the difference between guaranteed and non-guaranteed returns in an endowment plan?
The guaranteed return is the minimum maturity value contractually promised by the insurer regardless of market conditions — typically 1.0%–2.0% p.a. for regular premium plans. The non-guaranteed return (bonus) is derived from the par fund’s investment surplus and is declared annually by the insurer’s board. MAS requires insurers to illustrate non-guaranteed bonuses at standardised 4.25% and 3.25% gross return scenarios. Non-guaranteed bonuses, once declared, are usually vested and cannot be reduced — but future bonuses can be cut if par fund performance deteriorates.
Can I use CPF to buy an endowment plan in Singapore?
You can use CPF Ordinary Account (OA) funds under the CPF Investment Scheme (CPFIS-OA) to purchase approved participating endowment plans. However, you must first keep S$20,000 in your CPF OA before investing. Not all endowment plans are CPFIS-approved — check the CPF Board’s approved product list. Note that using CPF OA (earning 2.5%) to buy endowment plans only makes sense if the endowment’s projected return clearly exceeds 2.5%. For CPFIS calculations, see our CPFIS Calculator.
What happens if I surrender my endowment plan early in Singapore?
Surrendering an endowment plan before maturity — especially in the first 5 years — typically results in a capital loss. Surrender values in early years are usually well below total premiums paid. For example, surrendering a 10-year plan after 3 years may return only 60%–80% of premiums paid. After year 5–6, surrender values typically recover to break-even. Always check the surrender value table in your policy illustration before purchasing, and ensure you can maintain the policy to maturity.
Which Singapore platform is best for buying an endowment plan?
You can buy endowment plans through a licensed financial adviser (FA), a bank’s insurance arm (e.g., DBS, OCBC, UOB), or directly from the insurer. For SRS-funded endowments, using a robo-advisor like Endowus to first manage your SRS funds and then routing to an insurer is also possible. Always compare benefit illustrations from at least 3 insurers before deciding. The LIA Singapore’s comparative product tables are a useful starting point.
What guaranteed return rate should I use in this calculator for Singapore?
For most regular premium Singapore endowment plans (10–25 year), use 1.5% as a middle-ground guaranteed rate. Conservative plans may guarantee as low as 1.0%, while some single-premium short-tenor plans guarantee 2.0%–2.5%. Your personalised benefit illustration from the insurer will state the exact guaranteed maturity benefit — you can back-calculate the implied guaranteed rate using the calculator above by adjusting the guaranteed rate slider until the guaranteed maturity value matches your illustration.
How does an endowment plan affect my retirement income in Singapore?
An endowment plan maturing at age 55–65 can serve as a capital injection into your CPF Retirement Account (to top up your Full Retirement Sum), fund an annuity purchase, or serve as a lump sum to bridge the income gap between retirement and CPF LIFE payouts. For example, a S$500/month endowment plan maturing at 60 (after 25 years) could project approximately S$205,000 at Scenario A — a significant supplement to CPF LIFE. Use our CPF Retirement Sum Calculator and Retirement Planning Calculator to integrate this into your full retirement plan.
Put Your Numbers Into Action
Now that you know your endowment plan’s projected returns, compare them against REITs, ETFs, and retirement calculators. Use our free tools and referral bonuses to put your knowledge into action.