Why is there an annual cap of $2,000 of matching grant. Would the Government consider allowing eligible members to top up $20,000 at once and receive the lifetime matching grant of $20,000?

The Matched Retirement Savings Scheme is targeted at Singaporeans with lower retirement savings to help them save more for retirement. As member’s circumstances such as income and housing can change over time, the annual cap ensures that the scheme will help seniors who require the support over a longer period.


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