As the cash top-ups serve to boost the retirement adequacy of Singaporeans through the matching grant, tax relief is removed for cash top-ups which attract the matching grant. This is because the matching grant is already a benefit extended by the Government. Givers may continue to enjoy tax relief of up to $16,000 a year for cash top-ups that do not attract the Matched Retirement Savings Scheme matching grant, if they meet the criteria under the Retirement Sum Topping-Up Scheme (e.g., if the recipient has not met the current Full Retirement Sum).

 

Learn more on how the matching grant and tax relief are determined.

 

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