You both are actually doing resaonably well, compared to most Singaporeans.
First, you are debt free and your net worth is pretty decent. You should have no problem retiring at 65 provided you downgrade, but the good news is you can still stay in a condo. You need to downgrade to a smaller condo, either a studio or one bedder condo unit.
Your
CPF Special Account will continue to grow, now the Min sum is $155k and this will likely to grow to $220k over the next 8-10 years. The payout will also increase to $1700 pm if the Min sum is $220k. This is my estimate, could be more or less. So, when you reach 65, your combined monthly payout from your
CPF Life is $3,400.
As for your condo, let's say you sell at $1.8m and you then buy a small unit for $800k. You will have $1m cash after the transactions. And let's say you have an addtional cash savings of $500k when you reach 65. So, in total, you would have $1.5m and if you invest in good bluechips that give 5% dividend yield, you will get $75k pa or $6,250 pm. So, together with your retirement account payout, you should get a monthly passive income of $9,650. This is huge for a retired old couple.