Matched Retirement Savings Scheme (MRSS)
21/01/2021
Good news!
Matched Retirement Savings Scheme (MRSS):From 2021 to 2025, every dollar topped up to a Retirement Account will be matched by the Government, subject to a cap of $600 every year.
That means members can get grants of up to $3,000 over these 5 years.
Anyone is allowed to top up a member’s account to get the grant — the member himself, a loved one, employer or even a generous member of the public.
The MRSS is only valid for members who are:
- Aged from 55-70
- Have less than the Basic Retirement Sum in their Retirement Account (as a guide, it’s $93,000 for 2021)
Feel free to contact us if you are needing HR consultancy at +65 66363691, +65 9326 2271 or info@lnmsolutions.com!
CPF Top-Ups For S’poreans Aged 55-70 To Be Matched By Govt, Can Be Put In By Anyone