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 Singaporeans 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?

Topics:

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?

Why are CPF transfers not eligible for the matching grant under Matched Retirement Savings Scheme?

Why am I not eligible for the Matched Retirement Savings Scheme if my monthly income is above $4,000?

What is the Matched Retirement Savings Scheme?

Need more help?