The Matched Retirement Savings Scheme (MRSS) helps boost the retirement payouts of older Singaporean Citizens aged 55 and above with lower retirement savings, who have a shorter runway to build up more retirement savings. MRSS is extended to them to help accumulate retirement savings.

 

For those who are younger and have a longer runway to build their retirement savings, the Government provides various other support. These include the Workfare Income Supplement, which supplements the income and retirement savings of lower-wage workers, and the Retirement Sum Topping-Up scheme (RSTU), which provide tax relief on cash top-ups. These schemes boost retirement savings, allowing members to benefit from compounding interest and higher monthly payouts in retirement.