How much tax relief can I enjoy when I make cash top-ups?
You can enjoy an equivalent amount of 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.
Please note that 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. Find out the conditions to qualify for tax relief.
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. Additionally, your employee can receive up to $8,000* of tax relief per calendar year.
* Includes any tax relief that the employee would enjoy for cash top-ups made to himself.
From 1 January 2025, givers of cash top-ups that attract the matching grant (up to $2,000 per year) under the Matched Retirement Savings Scheme (MRSS) will no longer receive tax relief. Find out more on how this works.
