Map Your Money

Map Your Money is available for DBS consumer banking customers born after 1958.

To access Map Your Money,

1. Log in to digibank mobile or digibank online
2. Go to the Plan tab
3. Look for Map Your Money

In Map Your Money, there’s a section called Your Money Forecast which has 2 charts. One is a projection of your monthly cashflow, the other is a projection of your total assets.

Monthly cashflow chart

The monthly cashflow chart consists of the following components:

What’ll you have:

• Cash refers to cash savings which goes into covering shortfalls, if any, and retirement expenses as needed​
• Income refers to your salary up to retirement age, and rental income up to life expectancy age​
• Investments refers to a straight-line withdrawal of your investments during your retirement years​
• Income stream payout refers to regular payouts from your income stream plans. Lump sum proceeds are not reflected​
• SRS payout refers to a straight-line withdrawal of your SRS balances from 62 years old​
• CPF payout refers your CPF LIFE monthly payout after 65 years old and a straight-line withdrawal of your CPF OA and SA cash balances during your retirement years

What’ll you spend refers to your expenses. We’ll use the desired retirement expenses you provided during onboarding for the projection after Retirement age. Once you’re past your desired Retirement age, we’ll project based on the expenses seen in your Money Out.​

Shortfall refers to the difference between what’ll you have and what’ll you spend

The above values are averages taken over the past 12 months. Every time you access Map Your Money, your projection is refreshed to start from the upcoming month.  ​

Total assets chart

The total assets chart displays your projected assets through the years. In the first year of the projection, we’ll show what’s currently in your actual assets. At year-end, adjustments such as adding interest rates, rates of return, and accounting for goals are made. The adjusted value is what you’ll see in the following year.​

• Cash and investments refers to the total value of your cash balances and investments
• SRS refers to the total value of cash balances and investments in your SRS account
• CPF refers to the total value of cash balances and investments across all your CPF accounts
• Cash shortfall refers to the situation when your cash balance is below 0

Goals

After you create a goal, a goal icon is added to your chart on your selected target year.

Your goal is on track if you have enough cash savings to fulfil it on your target year.

Your goal is off track if you do not have enough cash savings to fulfil it. When that happens, the goal icon turns red, like an alert.

What are goals?

Your desired retirement age is the age at which you want to retire. You would have provided this during onboarding. For purposes of our projections, we count it starting from the beginning of the year.

Your life expectancy age, or end of life age, is also something you would have provided during onboarding. For our projection, we count it at the end of the year.

Your Plan tab has a section called Money In and Money Out, which shows transactions across your deposit accounts. This includes any current, savings, personal, and joints accounts you may have with DBS.

Money In shows incoming transactions, or money you receive. We use data from here to derive your monthly income.

Money Out shows outgoing transactions from your deposit accounts, and charges to your credit cards. We use data from here to derive your monthly expenses.

You can adjust the values in this section, such as adding in money in and money out items not with DBS to make the projections more accurate.

For our forecast, we’ll calculate an average of your past 12 months’ salary and rental income, if any, and take this to be your monthly income (what you’ll have) before retirement.

Salary

If you don’t credit salary to a DBS account and haven’t input one manually, we’ll prompt you to enter your monthly salary. This will be taken as your net salary, or take-home pay.

We assume you’ll continue to draw this monthly salary and will start your projection from the upcoming month till one year before your retirement age. We will also apply a growth rate of 3.3% p.a. to your monthly salary for the entire projection period, taking the annualised change in nominal wages from 2015 to 2020 as a guide. (Source: Ministry of Manpower, 2021). You can adjust the rates used by going to Plan settings.​

Rental income

If you have a monthly rental income, we assume that you’ll draw the same amount throughout the years, from the upcoming month till end of life. No growth rate is applied.

For our forecast, we’ll calculate an average of your past 12 months’ Money Out transactions excluding those categorised under cash, transfer, investments, and housing. We’ll take this amount as your monthly expenses (what you’ll spend) before retirement.

If you have a DBS housing loan, we’ll count the cash portion of your monthly instalment as part of your expenses till the year your loan matures. Similarly, the CPF portion of your monthly instalments will be deducted from your CPF-OA.

We assume you’ll continue to incur these monthly expenses and will start your projection from the upcoming month till one year before your financial freedom age. Housing loan instalments aside, an inflation rate of 3% p.a. is applied, in line with the proposed 3% p.a. increase in the Basic Retirement Sum. (Source: CPF). You can adjust the rates used by going to Plan settings.​

Your assets forecast is derived using data in your Assets & Liabilities. This includes what you hold with DBS/POSB along with data that you’ve manually input. To make sure your forecast is up-to-date, we refresh your data every time you visit Map Your Money.

Here’s what goes into your asset forecast:

• Cash
• Selected Investments
• Supplementary Retirement Scheme (SRS)
• Central Provident Fund (CPF)

Our projection is based on the total balance of your accounts seen in your Assets & Liabilities. This includes savings and fixed deposits in Singapore Dollar and foreign currencies across your personal and joint accounts.

If you have a positive monthly cashflow, we’ll add the net amount to your cash balance. Conversely, if you have a negative cashflow, we’ll draw cash to cover the shortfall amount. If you have both a shortfall and goals to fund, cash goes to cover your shortfall first.

By default, your cash balance grows at the deposit interest rate of 0.05% p.a. from today till your end of life. You can adjust the rate used by going to Plan settings. ​

Our projection is based on selected personal and joint investments as seen in your Assets & Liabilities.​

​For the following, these fixed rates of returns are applied from today till you reach retirement:

• Unit trusts: 4.45% p.a.
• Equities: 6% p.a.
• Exchange traded funds: 5.70% p.a.
• Managed portfolios: 4.96% p.a.
• DBS Wealth portfolios: 6% p.a.
• ILPs: 3.88% p.a.

DBS Wealth portfolios may comprise assets of different classes, so we’re using an illustrated rate of returns of 6% p.a.

For unit trusts, equities, exchange traded funds and managed portfolios, the rates of returns are based on an average of 4% p.a. and 8% p.a., with cost deducted for each respective product class thereafter. For unit trusts, the total cost is assumed to be 1.25% p.a. for management fee and 0.30% p.a. for ongoing expenses. For equities, we assume that your holdings are listed on SGX and do not incur holding costs. For exchange traded funds, we assume an ongoing total expense ratio of 0.30% p.a. For managed portfolios, the total cost is assumed to be 0.75% p.a. for management fee and 0.2925% p.a. ongoing total expense ratio.

There are some exceptions:

• Schroder Asia More+ Fund follows the assumptions and projection rates applied on unit trusts
• Warrants and foreign assets including equities, exchange traded funds and retail bonds in DBS custody follow the assumptions and projection rates applied on exchange traded funds.

The projected total maturity value is added to cash in December of the policy maturity year.​

For Manulife endowment policies bought through DBS, our projection works like this: if your maturity date takes place​

• Before you turn 99 years old—We use the projected maturity value of your policy at maturity year. This value is estimated based on bonus rates declared in the last Annual Participating Fund Update.^(1)​
• After you turn 99 years old—We use your policy’s projected cash surrender value at the point you turn 65 years old. This value is projected using the bonus rates declared in the last Annual Participating Fund Update.^(2)​

The values above are used for purposes of financial planning with DBS only. It does not take into account outstanding premiums nor loans, and may not be the actual amount that the policy owner receives from Manulife upon policy maturity or surrender of policy at age 65.​

(1) For policyholders of Signature Income / Signature Income (II) / ManuIncome Plus who have opted for coupon accumulation: The maturity value used in the projection is estimated assuming that interest is compounded annually. This is different from the actual computation where interest is compounded monthly.​

(2) For policyholders of ReadyBuilder, the estimated value does not take into account the change to the policy value when you exercise Premium Freeze option on your policy.

Income stream payouts on your projection follow the start and end dates on your policy. You can see them under “Income stream payout” in your cashflow chart.​

There are some exceptions:​

• For policyholders of Manulife ReadyIncome and ReadyLife Income, only monthly payouts are included in the projection. The projected maturity value is excluded.

The Supplementary Retirement Scheme (SRS) is a voluntary scheme designed to complement CPF in helping you save for retirement. Singaporeans can contribute up to SGD 15,300 a year, and a SGD 80,000 personal income tax relief cap applies.

Our projection is based on the cash balance and investments in your SRS account as seen in your Assets & Liabilities. Your SRS investments may include fixed deposit, unit trusts, Exchange Traded Funds (ETFs), equities, retail bonds, Singapore Savings Bonds, T-Bills, SGS Bonds, managed portfolios, warrants and structured products—whatever you’ve bought using your SRS monies.

We’ve made some assumptions when deriving your SRS contribution amount.

• If you’ve contributed this year, we’ll take the total amount contributed up to yesterday
• If you’ve not contributed this year but have done so last year, we’ll take last year’s contribution amount
• If you’ve not contributed this year and the past year, we’ll take it that you do not contribute to SRS.

If you’ve made an SRS contribution within the last 2 years, we take it that it’s not just a one-off, but something you’ll do every year up to your retirement age or 61 years old, whichever comes earlier. We’ll deduct the contribution amount from your projected cash balances. If you have a projected a cash shortfall, we’ll put contributions on hold until you have enough cash again.

The following rates of returns are applied from today till you’re 61 years old. You can adjust the rates used by going to Plan settings.

• SRS cash balance: 0.05% p.a.
• SRS investments: 4.45% p.a.

We assume you’ll start your SRS withdrawals when you reach the statutory retirement age, which is currently 62. The total projected value of your SRS cash and investments at that point is divided evenly across the withdrawal period which changes depending on how old you are:​

• If you’re under 62—We apply the maximum withdrawal period of 10 years.​
• If you’re 62 and above—We calculate the total numbers of months from the upcoming month till you turn 72.​

The withdrawal amount is deducted month by month, leaving whatever remains to continue growing at the same rate of returns. ​

Things work a little differently once you hit 72. We assume that you’ve passed the 10-year withdrawal period, and instead of dividing your SRS balances over a payout period, we’ll add the amount to your cash balance.

The Central Provident Fund (CPF) is a compulsory savings scheme designed to help Singapore citizens and permanent residents (PRs) set aside funds for retirement.

The CPF Board has different schemes and rules in place that work together to help members optimise retirement savings. These can be complex to navigate and understand. For the purposes of our forecast, we’ve applied a selection of CPF rules and added some of our own assumptions.

Everyone starts with 3 accounts:

• Ordinary Account (OA)
• Special Account (SA)
• MediSave Account (MA)

On top of that, there are another 2 accounts:

• Retirement Account (RA)­­—Created automatically when you turn 55
• Investment Account (CPFIA)­—Only if you apply for one

Our projection is based on everything you have in all your CPF accounts as seen under your Assets & Liabilities, with relevant CPF rules and a few assumptions applied.

There are some basic CPF rules that every CPF member has to follow. We’ve applied these to your forecast, assuming you’re a Singapore citizen or PR, private or public sector non-pensionable employee.

1. CPF monthly contribution capped at an ordinary wage ceiling of SGD 6,000
2. CPF contribution rates by age
   
   
3. Allocation rates of CPF contribution to OA, SA and MA by age
   
   
   There’s a maximum balance you can have in your MA, also known as the Basic Healthcare Sum (BHS). Once you reach this amount, your MA contributions will flow to your SA or Retirement Account (RA). When you hit the limit on these accounts, it’ll go to your OA.
4. Base interest, additional interest and extra additional interest on OA, SA, MA and RA
5. Interest is computed monthly and credited annually
6. SA limit, or Full Retirement Sum (FRS). For those turning 55 in 2022, it’s SGD 192,000
7. MA limit, or Basic Healthcare Sum (BHS). For those turning 65 in 2022, it’s SGD 66,000
8. Your RA is created for you when you turn 55. Savings from your SA and OA, up to the FRS, are transferred to your RA. If you don’t have enough to meet the FRS, another transfer is made 6 months before you turn 65. The total balance in your RA is then used to join CPF LIFE.

A combination of CPF rules and our own assumptions form the basis of our projection. For purposes of our forecast, we assume

On CPF Life Scheme

1. You’re under the CPF LIFE Scheme
2. Your CPF LIFE payout starts at age 65
3. You’ve opted for the Full Retirement Sum (FRS) Scheme.

On interest earned 

1. Monthly interest is computed based on the month’s opening balance
2. From age 65, you only earn extra interest and additional extra interest on your CPF LIFE balance, where applicable.

On CPFIA rate of returns
Our projection is based on the cash balance and value of investments in your CPFIA account as seen in your Assets & Liabilities. Your CPFIA investments may include fixed deposits, unit trusts, Exchange Traded Funds (ETFs), equities, retail bonds, Singapore Savings Bonds, T-Bills, SGS Bonds, managed portfolios, warrants and structured products—whatever you’ve bought using your CPFIA monies.

The following rates of returns are applied on your CPFIA balances. You can adjust the rates used by going to Plan settings.

• CPFIA cash balance: 0.05% p.a.
• CPFIA investments: 4.45% p.a.

We’re using the same rate of returns on CPFIA investments that we use for unit trusts. See how it’s derived.

On additions and deductions from OA, SA & MA 

1. Additions to your OA come from monthly contributions and annual interest crediting
2. Additions to your SA come from monthly contributions and annual interest crediting. No deductions are made
3. Additions to your MA come from monthly contributions and annual interest crediting. No deductions are made
4. Monthly repayments for housing loans come out of your OA. For DBS loan holders, we’ll use the repayment by CPF amount on our record, which includes all joint borrowers’ portions.

On account limits 

• Full Retirement Sum (FRS) increases by 3% every year
• Basic Healthcare Sum (BHS) increases by 5% every year.

On what happens when you reach your retirement age or age 55, whichever is later

• The balance in your CPFIA, if any, is moved to your OA at your retirement age, or at age 55 if your desired retirement is before 55
• If you’re using your OA to service your home loan, we continue to set aside your repayment amount till the year your loan matures, assuming it’s within the CPF housing limits applicable to you. Any remaining balance is used to meet the FRS
• If you haven’t met the FRS by your desired retirement age, we continue to set aside money in your SA and OA to meet the FRS shortfall. This is then moved to your RA to join CPF LIFE 6 months before you turn 65. However, if your desired retirement age is above 65, the amount remains in your SA and OA and is counted as part of your assets
• If there’s any projected balance in your RA due to interest credited after the transfer of your RA funds to CPF LIFE, we’ll count it as part of your assets
• If there’s any projected balance in your SA and/or OA due to interest credited after the CPF Savings withdrawal is made at retirement age, we’ll count it as part of your assets

On deriving your RA balance at 55 years old (only applicable for those > 55)

• If you’re currently above 55 years old and already have an RA, we work backwards in our calculations:
• Taking your current RA balance, we deduct a basic interest of 4% p.a. for the period from now to when you were 55
• If the derived balance is below SGD 60,000, we assume this is the amount transferred from your SA and OA to meet FRS when you were 55. If the derived balance is above SGD 60,000, we assume you received SGD 900 in extra and additional extra interest per year and will deduct it accordingly
• We assume there’s no overflow from your MA to your RA.

On what can be withdrawn from age 55 and 65

• If you haven’t met the FRS by 55, CPF lets you withdraw up to SGD 5,000 from your SA/OA. We assume that you won’t make a withdrawal but will keep the amount to meet your FRS
• At 65, you have the option of withdrawing up to 20% of your RA savings. We assume that you won’t make a withdrawal but will use the amount to join CPF LIFE.

Your projected CPF payouts start in the birth month of your retirement age, and may comprise of payouts from your CPF LIFE and CPF withdrawal savings.

1. Payout from CPF LIFE 

The payout amount is derived from the total projected balance in your RA 6 months before you turn 65. We follow the calculations seen on the CPF LIFE Estimator, but our results may differ slightly as our calculations run on our own engine.

If you have balance left in your SA and OA after fulfilling the FRS, CPF Board lets you make withdrawals from age 55. For our forecast, instead of lump sum withdrawals, we’ll work your balance into monthly payouts.

We’ll activate this balance when you reach your desired retirement age, or the payout eligibility age of 55 if your desired retirement age is before 55.

Taking the total projected value in your SA and OA, we divide it evenly across the total number of months between the start of your withdrawal and your end of life into monthly payouts. Payouts are taken out of the balance one year at a time, leaving whatever remains to continue growing at the same rate of returns. 

Goals can be anything you’re planning for that come at a cost to you. From holidays funds to downpayments, your goal can be big or small, short-term or long-term. If it’s important to you, you can add it here.

When you set a goal, we’ll map out the cost and target date on your forecast, so you can get a total view of your projected financial needs.

How it works

• You can have a maximum of 20 goals, including those you have on hold. Past goals are not counted
• You can put goals on hold. When you do, we’ll remove the goal and its cost from your forecast until you resume it
• When you delete a goal, it’ll be permanently removed and you won’t be able to restore it
• Once a goal is past the year of its target date, it’ll be categorised under past goals.