There are several reasons why you should consider topping up your retirement savings:

 

 

By topping up your Special Account (SA) (if you are below 55) or Retirement Account (RA) (if you are 55 or above), you are growing your retirement savings and will enjoy higher monthly payouts when you retire.

 

 

By topping up your SA or RA, you can earn risk-free interest rates* of up to 6% per annum on your savings.

 

For instance, if you save $100 a month for 15 years on your own, you would have saved $18,000. On the other hand, if you top up $100 a month to your SA or RA for the same amount of time, you would have saved over $24,000*. If you continue to top up for another 10 years, your savings would grow even more, reaching over $50,000* with compound interest.

 

 

By topping up with cash, you can also benefit from:

 

• Tax relief of up to $16,000. Terms and conditions apply.
• Matching dollar-for-dollar grant from the Government if you are eligible for the Matched Retirement Savings Scheme. Terms and conditions apply.

*Based on the current 4% interest rate floor on Special and Retirement Account monies.