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CPF members are saving and planning for their own and loved ones’ retirement more than ever, even in the midst of the COVID-19 pandemic. In 2020, $3 billion in top-ups[1] were made by 140,000 CPF members under the Retirement Sum Topping-Up Scheme (RSTU), which was 40% more than the amount of top-ups made in 2019. In the last quarter of 2020 alone, the Board saw a substantial increase in top-ups of $1.2 billion.


Of the 140,000 members who made top-ups in 2020, more than one-third were topping up for the first time, an increase of more than 50% compared with 2019. The highest increase was among members below age 35, which was an 86% increase from 2019. Besides saving more for their own retirement, more members were topping up for their parents in 2020, with a 27% increase compared to 2019.


Mr Lee, who is in his 30s, has been topping up for his mother yearly for the past ten years. He said, “As a homemaker, my mother has little CPF savings. These top-ups earn attractive CPF interest rates and provide her with some security in her retirement years. At the same time, I also get to enjoy tax relief. So, it is a win-win situation.” Members can enjoy up to $14,000[2] in tax relief when they make top-ups to themselves and their loved ones.


Group Director from the Retirement Income Group Mrs Tan Chui Leng said, “More members, especially young adults, are realising that topping up their CPF is a key part of their retirement plan. By topping up in January each year rather than December, members could earn 20% more interest on their CPF savings in just 10 years. As a parent myself, I am glad to see that children too are helping their parents boost their retirement savings by topping up for them.”


Top-ups need not be in a lump sum and can be made in small amounts via GIRO throughout the year. For greater convenience and faster crediting, members can top up electronically via the CPF website or myCPF mobile app. Visit to find out more about the Retirement Sum Topping-Up Scheme.



[1] The top-ups made up under the RSTU comprise both cash top-ups and transfer of CPF savings, and could be made to members themselves or their loved ones. Top-ups would help to increase the monthly payouts of the recipient in retirement.


[2] Members can enjoy tax relief equivalent to the amount of cash top-ups made to their own CPF account, up to $7,000 per calendar year. If they are also making top-ups for their loved ones – parents, parents-in-law, grandparents, grandparents-in-law, spouse and siblings, they can enjoy additional tax relief of up to $7,000 per calendar year. Terms and conditions apply.