Speaking of CPF Life, I heard from someone that there is some
sort of admin fee, premium fee (?) you need to pay for this CPF
Life scheme.
I didn't bother to check up on the details.
Maybe anybody can give a short summary what it is all about if
they know anything about it? 
Something like that. CPF Life is an annuity = insurance plan,
which means you need to pay a premium.
For e.g. you have $100 000 in your CPF RA (Retirement Acc) when
you turn 62, you can use that money ($100k) to buy a CPFLife plan,
which would give you a few hundred every mth for the rest of your
life.
Of course this example is simplistic and the monthly payout
differs (depending on which CPF Life plan you opt for)