Why is there an annual cap of $2,000 of matching grant. Would the Government consider allowing eligible members to top up $20,000 at once and receive the lifetime matching grant of $20,000?

Question

Accepted Answer

The Matched Retirement Savings Scheme is targeted at seniors with lower retirement savings to help them save more for retirement. As member’s circumstances such as income and housing can change over time, the annual cap ensures that the scheme will help seniors who require the support over a longer period.

This information is sourced from CPF

Why is there an annual cap of $2,000 of matching grant. Would the Government consider allowing eligible members to top up $20,000 at once and receive the lifetime matching grant of $20,000?

Related questions

Why is there a lifetime cap of $20,000 to the matching grant when the Matched Retirement Savings Scheme is enhanced from 2025?

I received Matched Retirement Savings Scheme matching grants in the past, before the $20,000 lifetime cap took effect in 2025. Will the past matching grants count towards this $20,000 lifetime cap?

What is the Matched Retirement Savings Scheme?

I am a person with disability aged 55 and above and had received Matched Retirement Savings Scheme matching grants before its expansion to include persons with disabilities of all ages. Will my past grants count towards the $20,000 lifetime limit?