From 1 January 2025, if you are making a cash top-up to a recipient eligible for the Matched Retirement Savings Scheme (MRSS), your cash top-up of $2,000 will first enable your recipient to enjoy the matching grant of up to $2,000 per year from the Government, and will thus not be eligible for tax relief. You can continue to enjoy tax relief of up to $16,000 a year for your cash top-ups that do not attract the MRSS matching grant ($8,000 per year for top-ups to yourself and another $8,000 per year for top-ups to your loved ones).

For example, if you make a cash top-up of $3,000 to your MRSS-eligible loved one, your loved one will first enjoy a matching grant of $2,000 from the Government, and you will be eligible for $1,000 of tax relief on your cash top-up that did not attract the matching grant.

Find out more on the conditions to qualify for tax relief.