How much tax relief can I enjoy?
You can enjoy tax relief for cash top-ups made in each calendar year of up to:
- $8,000 if you make a top-up to yourself; and
- an additional $8,000 if you make a cash top-up to your loved ones.
Only cash top-ups up to the current Full Retirement Sum (FRS) are eligible for tax relief. Log in with your Singpass to find out how much you can top up to yourself. If you make cash top-ups to your loved ones, please note that the tax relief does not apply to your recipients.
If you are an employer making cash top-ups on your employees’ behalf, you will receive an equivalent amount of tax deductions for the cash top-ups made, while your employee will also receive tax relief of up to $8,000* per calendar year.
Find out the conditions to qualify for tax relief. Read more about the changes to the tax relief cap.
* Includes any tax relief that the employee would enjoy for cash top-ups made to himself