Receive a matching grant with the Matched Retirement Savings Scheme
Helping senior Singapore Citizens with lower retirement savings to save more for their retirement by matching cash top-ups made to their Retirement Accounts (RA).
Updates on 20 Apr 2021
Added new section for home page under banner.
Getting a grant
Matched Retirement Savings Scheme
Launched in 2021, MRSS aims to help senior Singapore Citizens with lower retirement savings build up more. This will boost their monthly payouts in retirement. MRSS will first run for five years during which, the Government will match every dollar of cash top-ups made to the RA of eligible members up to $600 per year. This would amount to a maximum of $3,000 over five years.
How MRSS benefits you
Dollar for dollar matching grant
You’ll get a dollar for dollar matching grant from the Government for any top-ups received in your RA if you’re eligible for MRSS, up to an annual cap of $600.
Your eligibility is automatically assessed every year. The CPF Board will notify you at the beginning of each year if you qualify and you can also check your eligibility via the website once the assessment is completed. As long as you’re eligible and you receive a cash top-up, you’ll receive the matching grant by the following year.
Find out if you’re eligible
To check if you're eligible, log in with your Singpass and check via your Retirement Dashboard.
Age 55 to 70 (both inclusive) as of 31st December of the assessment year
Retirement Account savings are less than $99,400
Average monthly income is not more than $4,000. This covers a majority of senior workers
Annual value of residence is not more than $13,000
Own not more than one property
Click here to find out more about the eligibility criteria.
Who can make cash top-ups
Anyone such as yourself, your loved ones, employers or members of the community, can make cash top-ups to eligible members.
Getting a grant
How to receive the grant
Make top-ups to receive the grant
Top up to your RA
Simply make cash top-ups to your RA anytime within the year. The matching grant of up to $600 a year will be automatically credited into your RA at the beginning of the following year.
You don’t have to make a lump sum cash top-up. Instead, make smaller top-ups whenever you can. For example, if you top up $50 per month for an entire year, you’ll be able to qualify by the end of the year to get the maximum $600 matching grant.
Top up with CPF Mobile app
You can top up via the CPF Mobile app. Simply follow the step-by-step guide.