I wonder if there is a more sinister reason behind this. Is this done with the hope that the annuitant dies earlier than actuarially calculated? Even if the annuitant out lives the actuarial assumption, for not reason, you have lost $790*12*3 of income that could have come earlier by 3 years. Is this done to help the service provider that is making the annuity payments? So many questions.

Can it not be such that the person continues to recieve the annuity payment and YET continue to work? So what if you are old and unemployable, does it mean that you have to beg for food while you have close to $100,000 in your CPF? Is the government going to help those who suddenly are forced to work another 3 years more?