Get ready for a financial boost, Singapore! The Central Provident Fund (CPF) has just announced a record-breaking S$456 million in matching grants for retirement savings in 2025. But here's where it gets even more exciting: from January 1st, the Matched Retirement Savings Scheme (MRSS) has expanded to include eligible Singaporeans with disabilities of all ages.
In a joint statement, the CPF Board, the Ministry of Health (MOH), and the Ministry of Manpower (MOM) revealed that over 250,000 members received matching grants totaling S$456 million for their cash top-ups in 2025. This is a significant jump from the previous year, with a massive increase of S$395 million compared to 2024's S$61 million.
The enhancements made to the scheme in 2025 have played a crucial role in this growth. The age cap of 70 was removed, and the matching grant amount was increased to S$2,000 per year, with a lifetime cap of S$20,000. These changes have encouraged more Singaporeans to take advantage of the scheme and plan for their retirement.
And this is the part most people miss: 2026 brings even more opportunities for Singaporeans to boost their retirement and healthcare savings. The government has launched the Matched MediSave Scheme (MMSS) and expanded the MRSS, creating a comprehensive support system for seniors with lower CPF balances.
From January 1st, 2026, eligible Singaporeans with disabilities can now receive a dollar-for-dollar matching grant of up to S$2,000 per year for cash top-ups into their retirement or special accounts, with a lifetime cap of S$20,000. This expansion aims to empower younger Singaporeans with disabilities to start building their retirement savings earlier.
Under the MMSS, which is running as a five-year pilot until 2030, the government will match every dollar of cash top-up made to eligible Singapore citizens' MediSave Accounts (MA), up to S$1,000 per year. This scheme is designed to benefit citizens aged 55 to 70 who have MA savings below half of the current basic healthcare sum for the year, which is S$39,500 for 2026.
However, there's a catch: top-ups that receive government matching grants under the MMSS will not qualify for personal income tax relief. It's a trade-off, but one that could still provide significant benefits for those eligible.
In 2026, approximately 750,000 Singaporeans are eligible for the expanded MRSS, and around 185,000 are eligible for the MMSS. An impressive 165,000 Singaporeans qualify for both schemes, which means they could receive up to S$3,000 in total matching grants for their top-ups this year.
To be eligible for either scheme, Singapore citizens must meet certain criteria, including not owning more than one property, residing in a property with an annual value of S$21,000 or less, and having an average monthly income not exceeding S$4,000.
The MRSS, introduced in 2021, provides government matching grants for cash top-ups to the retirement accounts of eligible senior Singapore citizens aged 55 and above. For 2026, this includes those with savings of less than S$110,200 in their retirement or ordinary and special accounts. The expansion of the MRSS also extends to Singaporeans with disabilities under 55 whose ordinary and special account savings fall under the basic retirement sum.
So, Singapore, are you ready to take advantage of these incredible opportunities to secure your financial future? Remember, planning for retirement is a journey, and every step counts.
What do you think about these schemes and their potential impact on Singaporeans' financial well-being? Share your thoughts and let's spark a conversation about the future of retirement savings in Singapore!
