Build up your retirement savings through top-ups and risk-free CPF interest rates. At the same time, you can also enjoy up to $8,000 of tax relief for cash top-ups made to yourself in each calendar year, up to the current FRS.

You can receive cash top-ups or CPF transfers up to the Full Retirement Sum (FRS) in your Special Account if you are below 55, and up to the Enhanced Retirement Sum (ERS) in your Retirement Account if you are 55 and above.

Learn more about the current FRS and ERS.

Cash top-ups

Anyone can make a top-up in cash to you. This includes yourself, your family members, employers or any member of the community. 

A few things to note:

• If your loved ones make a cash top-up to you, they can enjoy up to $8,000 of tax relief for cash top-ups made in each calendar year (up to the current FRS). Tax relief only applies to givers and not recipients of the top-up.
• If your employer makes a cash top-up on your behalf, they can enjoy tax deduction equivalent to the amount of top-ups made, and you may enjoy tax relief of up to $8,000 (up to the current FRS).

CPF transfers 

Only your loved ones can make a CPF transfer to you. CPF transfers are not eligible for tax relief

Cash top-ups and CPF transfers are meant to boost your monthly payouts to meet your retirement needs, so they can only be used to increase your payouts and not used for other purposes.

Before you make a CPF transfer to your own or your loved ones’ retirement savings, do consider if you plan to use your CPF savings elsewhere, such as using your Ordinary Account to pay for your housing loan.

When you reach age 55, the cash top-ups and CPF transfers you have received, along with the interest earned on these monies will be transferred to your Retirement Account to meet your cohort FRS. These monies will be used to provide you with monthly payouts in your retirement.

All cash top-ups and CPF transfers are irreversible. Savings in the Special Account and Retirement Account earn a higher interest rate as the funds stay in your account for a longer term to grow your retirement savings.

You can make cash top-ups and CPF transfers to your CPF account through the CPF Mobile app or my cpf Online Services.

For cash top-ups, you can have the option to make payment through

1. PayNow,
2. GIRO if you are topping up regularly.

If you’re thinking about making a cash top-up, you don’t have to worry about doing it in one lump sum. Use GIRO to make top-ups in small, regular amounts monthly or yearly.

Grow your retirement savings today.