Topping up your retirement savings

Voluntary Housing Refund

Topping up your MediSave Account

Topping up your 3 CPF accounts

Top up/refund to

• Special Account (SA) for members below 55; or
• Retirement Account (RA) for members 55 or above.

• Ordinary Account (OA); and/or
• RA for members 55 or above and have not met their Full Retirement Sum (FRS) in their RA.

• MediSave Account (MA)

• Ordinary Account (OA)
• Special Account (SA) for members below 55 or Retirement Account (RA) for members 55 or above
• MediSave Account (MA)

The CPF contributions allocated to the RA will be up to the Full Retirement Sum (FRS). For members who have set aside the FRS in the RA, these contributions will be channelled to the OA.

Eligibility for tax relief

You can enjoy tax relief if you made cash top-ups to yourself or your loved ones up to the current year's FRS.

However, please note that tax relief would not apply if you made a CPF transfer.

You will not be eligible for tax relief.

For non self-employed persons:

• You get to enjoy tax relief for voluntary top-ups to MA.
•  If you are self-employed, you will enjoy tax relief on your MediSave contributions based on your annual net trade income (NTI). There will be no tax relief for your MediSave contributions if your assessed NTI for the year of assessment is zero or negative.  

For non self-employed persons:

• You are not eligible for tax relief

For self-employed persons who made self top-up or received a top-up:

• You can enjoy tax relief based on your assessable net trade income for the year.

Top-up limit

What is the maximum amount of top-ups I can receive?

If you are below 55, you may top up your SA up to the current year's FRS.

If you are 55 or above, you may top up your RA up to the current year's Enhanced Retirement Sum.

You can check your top-up limit in your Retirement Dashboard.

Can I voluntarily refund a portion of the CPF savings I used for my property?

You can make a refund of any amount, capped at the full principal amount you have withdrawn for the property, along with the accrued interest.

You may check the amount that you can refund through the Home Ownership Dashboard.

Do note that after making a full voluntary housing refund of the CPF savings withdrawn and accrued interest, all CPF withdrawals including monthly housing loan instalments (if any) for the property will stop.

1. What is the voluntary top-up limit to my MediSave Account?
2. The maximum amount you can voluntarily top up to your MA is the difference between your Basic Healthcare Sum (BHS) and your current MA balance. Once your BHS has been reached, no further voluntary top-ups can be made to your MA. If you exceed your BHS from the top-up, the full amount of your top-up will be refunded to you.
3. You can check your top-up limit with these steps.

Top-ups cannot exceed the CPF Annual Limit of $37,740, which includes your mandatory CPF contributions for the calendar year.
When you make a cash top-up online, you will be shown the amount of top-up you can receive before you reach the top-up limit. 
If you are making a top-up on another person’s behalf, please check with your recipient directly on the amount he can receive.

Top-ups in excess of the recipient’s Annual Limit will be refunded.

Withdrawal

Top-ups are meant to boost your retirement income. They will be streamed out to you as monthly payouts and cannot be used for other purposes.

You can continue to use your OA savings for the current or next property after making a voluntary housing refund.

However, if you would like to use your OA for the same property, after making a voluntary refund of the full principal amount used and the accrued interest, you will need to re-apply to use your CPF savings.

After turning 55 and setting aside the FRS, you can withdraw the remaining balance in your OA in full or in part at any time.

From 55, you can make retirement withdrawals from your OA in full or in part, at any time for your immediate needs, provided you have set aside your FRS.

From 55, you can make retirement withdrawals from your OA in full or in part, at any time for your immediate needs, provided you have set aside your FRS.

Top-ups to your SA and RA are meant to boost your retirement income while MA savings are meant for your healthcare needs and cannot be withdrawn in cash.

Application

Top-ups can be made using cash and/or CPF transfers.

How do I apply to make a top-up?

Refund can only be made via cash.

How can I make a voluntary refund of the housing amount withdrawn if I am not selling my property?

Top-ups can only be made via cash.

How can I top up to myself, my children or my loved ones’ MediSave Account?

Top-ups can only be made via cash.