Matched Retirement Savings Scheme

[mojipei]

I just realized that I can earn $600 per year for the next 5 years if I top up my own CPF retirement account. Anybody aware that if I top up my parents' account and my account, do I can double the amount of top up?

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/matched-retirement-savings-scheme

 

[reddevil0728]

I just realized that I can earn $600 per year for the next 5 years if I top up my own CPF retirement account. Anybody aware that if I top up my parents' account and my account, do I can double the amount of top up?

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/matched-retirement-savings-scheme

you get your own, your parents' get their own.

Annual cap is $600.

you fulfilled at the criteria?

 

[loveboon]

I just realized that I can earn $600 per year for the next 5 years if I top up my own CPF retirement account. Anybody aware that if I top up my parents' account and my account, do I can double the amount of top up?

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/matched-retirement-savings-scheme

Eligibility age is between 55-70 years old inclusive and both you and your parents fulfill this criteria?

 

[reddevil0728]

Eligibility age is between 55-70 years old inclusive and both you and your parents fulfill this criteria?

Still possible la.

Give birth at 15 lor

 

[BBCWatcher]

Still possible la.
Give birth at 15 lor

Biologically possible but hopefully not too common. It's also mathematically possible via adoption.

 

[soneat]

Eligibility age is between 55-70 years old inclusive and both you and your parents fulfill this criteria?

I think the inclusive is referring to the age: 55 and 70. Not that both the person must be within that age range

 

[maple96]

I just realized that I can earn $600 per year for the next 5 years if I top up my own CPF retirement account. Anybody aware that if I top up my parents' account and my account, do I can double the amount of top up?

https://www.cpf.gov.sg/Members/Schemes/schemes/retirement/matched-retirement-savings-scheme

If u meet the criteria defined, u get free monies of $600 per year if u topup your RA with 600 next year and next 4 years (if u still continue to qualify I guess), plus get tax relief on 600.

If your parents also meet the criteria defined, u can help your parents topup their RA with 600 next year, (next 4 years if they continue to qualify), they will get free $600 from govt, and u get tax relief.

So lucky!

 

[reddevil0728]

I think the inclusive is referring to the age: 55 and 70. Not that both the person must be within that age range

TS is saying top up for self and parents to get $600.

So TS is suggesting that he/she is 55-70

 

[BBCWatcher]

I think the inclusive is referring to the age: 55 and 70. Not that both the person must be within that age range

All qualification for the Matched Retirement Savings Scheme is based on the recipient's characteristics, including age (55 to 70 inclusive). As the CPF Board puts it, "The cash top-ups can be made by anyone, including yourself, your loved ones and your employer."

TS is saying top up for self and parents to get $600.
So TS is suggesting that he/she is 55-70

The implication is that the original poster and his/her parents are all within that age range (or will be in 2021 when the MRSS starts). But we don't know. Moreover, there's no requirement that you top up a parent's CPF Retirement Account specifically. You can top up a random stranger's CPF RA if you wish, and if that stranger qualifies for the MRSS, then the government will deposit the matching funds.

 

[henrylbh]

Eligibility age is between 55-70 years old inclusive and both you and your parents fulfill this criteria?

He (and his parents) has to be between 55 and 70. Otherwise, he is nut to provide the link and not read it

 

[reddevil0728]

He (and his parents) has to be between 55 and 70. Otherwise, he is nut to provide the link and not read it

Common.....

 

[mojipei]

TS is saying top up for self and parents to get $600.

So TS is suggesting that he/she is 55-70

I am not hiding my age. I joined HWZ in the 90's.

 

[soneat]

TS is saying top up for self and parents to get $600.

So TS is suggesting that he/she is 55-70

Oops....=)

 

[reddevil0728]

I am not hiding my age. I joined HWZ in the 90's.

So ur parents have you when they were 15?

 

[maple96]

I am not hiding my age. I joined HWZ in the 90's.

some people just like to edmw here, just ignore them

 

[SBC]

Any plans to expand to include those parents above 70?

 

[reddevil0728]

Any plans to expand to include those parents above 70?

Don’t think it has been mentioned publicly

 

[SBC]

Don’t think it has been mentioned publicly

MRSS is having great success. News article big big today.

Should expand its scope.

 

[reddevil0728]

MRSS is having great success. News article big big today.

Should expand its scope.

Can feedback to minister or MP.

but I reckon there’s a cut off of 70 to tie in with some other policy like latest start date of payment or something