ENGAGEMENT MATCHED RETIREMENT SCHEME
In order to increase top Singaporeans ‘ retirement benefits, the Matched Retirement Savings Scheme was established in 2021 to assist them in growing their savings and increasing their superannuation benefits.  ,
” The authorities had matched every dollar of income top-ups made to the Retirement Accounts of qualified people, aged 55 to 70, away to S$ 600 per year for each part.
More than 103, 000 people ‘ Retirement Accounts received money top-ups in 2024, totaling S$ 61 million in matching offers in January 2025. The panel stated that nine out of ten members had received the highest monthly matching give of S$ 600,” said the table.  ,
From Jan 1 this time, the Matched Retirement Savings Scheme time cap of 70 has been removed and the corresponding offer has been increased to S$ 2, 000 per month, with a S$ 20, 000 cover over an available person’s life.  ,
With these improvements, the CPF Board said more than 740, 000 members are available for the Matched Retirement Savings Scheme this year- nearly twice from 395, 000 in 2024.  ,
Additionally, the government’s corresponding grant has been eliminated because the matching grant is now a substantial benefit, the statement continued.  ,
Donors can still receive up to S$ 16,000 in tax relief for cash gifts to themselves and their loved ones if they do not qualify for the corresponding grant.
At the beginning of each month, eligibility for the Matched Retirement Savings Scheme is evaluated quickly. Individuals can check their eligibility at any time using the Matched Retirement Savings Scheme enrollment check or their Retirement Dashboard on the CPF site.
From February through March, those who qualify will be notified via email or email with a hard copy.  ,