What incentives are there for me to top up to my loved ones under the Matched Retirement Savings Scheme when the tax relief is removed from 2025?
Topping up to your loved ones’ CPF accounts helps them to build up more retirement savings and increases their monthly payouts in retirement. From 1 January 2025, recipients of cash top-ups who are eligible for the Matched Retirement Savings Scheme (MRSS) can also receive a matching grant of up to $2,000 per year (an increase from $600 per year) from the Government, which will further boost their retirement savings.
You may continue to enjoy tax relief of up to $16,000 a year for eligible cash top-ups that do not attract MRSS matching grants ($8,000 per year for top-ups to yourself and another $8,000 per year for top-ups to your loved ones).
Learn more on how this works.
This information is sourced from CPF
Related questions
From 2025, how are the matching grants and tax relief determined for my cash top-ups made to a senior eligible for the Matched Retirement Savings Scheme?
Am I eligible for tax reliefs when I make a cash top-up to my/my loved ones' retirement savings?
Why is tax relief removed for cash top-ups that attract matching grant under the Matched Retirement Savings Scheme from 2025?
Who can make cash top-ups to recipients who are eligible for Matched Retirement Savings Scheme?
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