What can my loved one use the top-up monies and MRSS matching grants for?
Top-ups and matching grant from the Matched Retirement Savings Schemes are meant to boost your loved one’s retirement savings and monthly retirement payouts.
 
In keeping with this purpose, such top-ups and matching grant monies will form the retirement savings in your loved one’s Retirement Account (which is created for him/her at age 55), and paid to him/her as higher monthly payouts in retirement from age 65.
 
These top-up monies and matching grant cannot be withdrawn for other purposes (e.g. withdrawn in a lump sum, withdrawn from the Retirement Account using property, transferred to loved ones or other CPF schemes such as education investment, insurance).  

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