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How to Tap into Singapore's CPF $600 Top Up Scheme

A guide on how to benefit from Singapore's Matched Retirement Savings Scheme (MRSS) that provides dollar-for-dollar matching up to $600 for CPF cash top-ups. 

How to Tap into Singapore's CPF $600 Top Up Scheme

Retirement should be a time of relaxation and enjoyment, but for some, it's filled with financial worries. 

For many seniors in Singapore, maintaining a comfortable lifestyle after retirement can be challenging, especially if they fall short of the Basic Retirement Sum (BRS) needed for the CPF Retirement Sum Scheme. 

To help support these seniors, the Singaporean government has introduced the Matched Retirement Savings Scheme (MRSS). 

Under this scheme, eligible seniors can receive dollar-for-dollar matching for voluntary CPF cash top-ups, up to an annual limit of $600.

Understanding the Matched Retirement Savings Scheme (MRSS)

Introduced in the 2020 Budget, the MRSS provides a fantastic opportunity for seniors to boost their CPF balances and improve their retirement finances. 

The eligibility criteria for the MRSS are as follows:

Eligibility Criteria



55 to 70 (inclusive)

CPF Retirement Account savings

Less than the prevailing Basic Retirement Sum

Average monthly income

Not more than $4,000

Annual Value (AV) of residence

Not more than $13,000

Property Ownership

Do not own more than one property

While the Retirement Sum Topping-Up (RSTU) scheme allows for contributions via cash or transfers from your Ordinary Account, the MRSS matching applies only to cash top-ups. 

These top-ups can be made in a lump sum or in smaller portions throughout the year. 

By the end of the calendar year, the total topped-up amount is computed, and the matching grant is credited by the first quarter of the following year.

The MRSS and RSTU Tax Deductions

In addition to the dollar-for-dollar matching by the government, those topping up can also enjoy the prevailing tax benefits under the RSTU. The tax relief applies as follows:

Type of Contribution

Tax Relief

Top-ups to your own CPF Retirement Account (RA) or by employers on your behalf

Up to $7,000 per calendar year

Top-ups to CPF RA of loved ones (parents, parents-in-law, grandparents, grandparents-in-law) or spouse/siblings if their income does not exceed $4,000 in the preceding year, or if they are handicapped

An additional $7,000 in tax reliefs per calendar year

It's important to note that the annual personal income tax relief cap of $80,000 applies to all tax reliefs claimed, including cash top-ups made under RSTU.


The MRSS offers a fantastic opportunity for eligible seniors in Singapore to boost their retirement savings. 

By utilizing this scheme, seniors can significantly improve their financial security in retirement.

So if you or your loved ones are eligible, it's time to take advantage of this beneficial scheme and ensure a more comfortable retirement.

Sources: CPF’s Matched Retirement Savings Scheme

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