To receive the matching grant, simply ensure your one-time cash top-up via PayNow is submitted by 31 December or recurring cash top-up via GIRO is submitted by 31 October in the year of eligibility.
You can top up any amount using PayNow. For greater convenience, consider setting a GIRO arrangement to make small and regular top-ups. Top-ups can be made by anyone, including yourself or your loved ones.
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If you make cash top-ups of…
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You will receive a matching grant of…
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Total increase to your RA savings…
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$600 for the year
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$600 for the year
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$1,200
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$2000 for the year
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$2,000 for the year (Maximum)
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$4,000
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The matching grant will be credited to your Retirement or Special Account at the beginning of next year. Matching grant is subjected to a lifetime limit of $20,000. Top-ups that attract Matched Retirement Savings Scheme matching grant will not qualify for tax relief.
