How will the increase in the annual matching grant from $600 to $2,000 per year from 2025 help seniors better meet their retirement needs?
Eligible seniors can top up more to their CPF retirement savings and receive the higher matching grant amount. Correspondingly, they will also receive higher monthly CPF payouts. For instance, a senior aged 55 in 2025 who makes a cash top-up of $2,000 per year over the next 10 years will see an increase in CPF retirement savings of at least $48,000 (inclusive of matching grants and CPF interest) in 2035, which translates to about a $260 increase in monthly CPF payouts*.
*Estimation for a male member that starts payout at age 65 on the CPF LIFE Standard Plan.
