I was ineligible for Matched Retirement Savings Scheme for the past few years after turning 71 years old. With the lifting of the age cap of 70 from 2025, will my eligibility be revised for the past few years?

Question

Accepted Answer

No, the enhancements start from 2025. With the lifting of the age cap, eligible seniors above 70 can make cash top-ups and receive the same amount of Matched Retirement Savings Scheme (MRSS) matching grant as those aged 55 to 70. The Government has also increased the annual matching grant amount to $2,000, compared to $600 before.

I was ineligible for Matched Retirement Savings Scheme for the past few years after turning 71 years old. With the lifting of the age cap of 70 from 2025, will my eligibility be revised for the past few years?

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