Top up parents’ CPF?

[manutd168]

I top up parent’s cpf on 2 Jan25.
Roughly how long will it take for my parents’ to receive the matching top up of $2000?

Is there any letter fm CPF board for this top
Up?

 

[MajiMax]

I top up parent’s cpf on 2 Jan25.
Roughly how long will it take for my parents’ to receive the matching top up of $2000?

Is there any letter fm CPF board for this top
Up?

Did you see the eligibility status on your parent's CPF dashboard before topping up? Cause I checked my parent's ones did not appear on 2 Jan 2025. I only managed to see the eligibility status earlier this week.

https://www.cpf.gov.sg/member/infoh...tirement-savings-scheme-what-you-need-to-know

At the end of each year, the total amount of cash top-ups will be computed, and the matching grant will be credited by the first quarter of the following year.

 

[standarture]

If single child, good to top up

 

[elf108]

Wah need to wait 1 year for the matching grant and no tax relief.

 

[rizhal]

Who is eligible for MRSS?​

You will be eligible for the MRSS if you are a Singapore Citizen and meet the following criteria:

Age+	Age 55 to 70 (Current) Age 55 and above (From 1 Jan 2025)
Retirement Account (RA) Savings*	Less than $102,900^
Average Monthly Income	Not more than $4,000
Annual Value of Residence	Not more than $21,000
Property Ownership	Own not more than one property

+As of 31st December of the assessment year

*RA savings refer to the cash set aside in the RA (excluding amounts such as interest earned, any governments grants received), plus retirement withdrawals. If you are turning 55 in the assessment year and your RA has not been created at the time we assess your eligibility, your total Special Account and Ordinary Account savings will be assessed instead.

^Current Basic Retirement Sum for 2024.

 

[yoongf]

Beginning of the following year. So topup now in 2025..get in Jan 2026?

https://supportgowhere.life.gov.sg/schemes/FcwgSMsK/matched-retirement-savings-scheme

 

[manutd168]

Did you see the eligibility status on your parent's CPF dashboard before topping up? Cause I checked my parent's ones did not appear on 2 Jan 2025. I only managed to see the eligibility status earlier this week.

https://www.cpf.gov.sg/member/infoh...tirement-savings-scheme-what-you-need-to-know

At the end of each year, the total amount of cash top-ups will be computed, and the matching grant will be credited by the first quarter of the following year.

Both My parents aren’t IT savvy and don’t have SingPass, so I can’t check eligibility

But both are retired and stay in HDB and don’t have rental income

 

[MajiMax]

Both My parents aren’t IT savvy and don’t have SingPass, so I can’t check eligibility

But both are retired and stay in HDB and don’t have rental income

How about their Retirement Account (RA) Savings* ?

 

[HelIoo]

It is immediate in their ra. Government matching will be next year jan. Before top up check if they are eligible

 

[maumu]

Both My parents aren’t IT savvy and don’t have SingPass, so I can’t check eligibility

But both are retired and stay in HDB and don’t have rental income

you can use their ic and DOB to check eligibility (that's how i checked for mine)

https://www.cpf.gov.sg/member/growi...retirement-savings-scheme-eligibility-checker

 

[maumu]

Wah need to wait 1 year for the matching grant and no tax relief.

only the first $2k got no tax-relief... cos it's matched by govt.

if you top up say $5k, you still get to enjoy $3k relief on your own tax.

 

[Guojing88]

So if your parent is eligible, if we top up $8000 as usual.

Now, only $6000 will be eligible for tax relief for ourselves, but the parent will get a total of 8000 +2000 = 10000?

 

[manutd168]

you can use their ic and DOB to check eligibility (that's how i checked for mine)

https://www.cpf.gov.sg/member/growi...retirement-savings-scheme-eligibility-checker

Thank you
Both are eligible

 

[manutd168]

It is time to top up again