Why am I not able to top up my Special/Retirement Account beyond the current Full Retirement Sum (FRS) (below 55) or Enhanced Retirement Sum (ERS) (55 and above)?
CPF savings are meant to provide for a basic level of retirement. Members below age 55 can top up their Special Account up to the prevailing Full Retirement Sum to build up their retirement savings towards this.
For members aged 55 and above, retirement is more salient to them and some may desire higher retirement payouts. To help these members better meet their retirement needs, we allow them to top up their Retirement Account up to the Enhanced Retirement Sum.
Members who wish to save more beyond their CPF can consider tapping on the Supplementary Retirement Scheme. You may find out more here.