As the cash top-ups serve to boost the retirement adequacy of Singaporeans through the matching grant, tax relief is removed for cash top-ups which attract the matching grant. This is because the matching grant is already a benefit extended by the Government. Givers may continue to enjoy tax relief of up to $16,000 a year for cash top-ups that do not attract the Matched Retirement Savings Scheme matching grant, if they meet the criteria under the Retirement Sum Topping-Up Scheme (e.g., if the recipient has not met the current Full Retirement Sum).
