As with all stages in life, money is always going to be a concern, more so for your parents who are no longer expecting an income from their jobs.
In Singapore, CPF LIFE provides retirees with a stable, guaranteed income each month based on how much individuals have in their retirement accounts.
One way of providing for your parents during their retirement would be to top up their CPF Retirement Accounts. With more money in their retirement accounts, your parents would be able to enjoy a higher monthly payouts. If they are not in need of cash immediately, this may be an even better idea since the money in their Retirement Accounts will be able to earn interest of up to 5%². In addition, when you make voluntary contributions, you will also be entitled to claim for tax relief.
Aside from just helping them out financially, you should also take the time to discuss financial affairs with your parents. Often, they may not want to share or trouble their children with their financial struggles. By speaking to them regularly about these matters, your parents will feel more comfortable sharing with you any concerns that they may have.