Retirement sums and Silver Support

Making Voluntary Contributions

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More members are able to set aside their retirement sums at age 55

Members who set aside the Required Retirement Sum (RRS) refers to those who either set aside the Full Retirement Sum in cash, or set aside the Basic Retirement Sum (BRS) and owned a property

Year 2021 2022 2023
Active members who set aside BRS 67% 69% 70%
All members who set aside BRS 56% 58% 60%
Active members who set aside FRS 47% 49% 49%
All members who set aside FRS 37% 40% 40%
Active members who set aside RRS 65% 67% 68%
All members who set aside RRS 53% 55% 57%

Population of active and all CPF members (age 55)

Year

2021

2022

2023

No. of active CPF members at age 55

40,500

40,200

40,000

Total no. of CPF members at age 55

61,700

59,500

59,100

Notes: 

  1. CPF member: A person with positive CPF balance.
  2. Active CPF member: A person with at least one CPF contribution paid for the current or any of the preceding three months. Excludes self-employed who are not employees concurrently.

Why are more active members able to set aside the retirement sum, compared to all members?


Strengthened support for seniors who are in need through Silver Support

The Silver Support Scheme provides quarterly payments to seniors aged 65 and above who had low incomes during their working years and now have less in retirement. This includes full-time caregivers who were not able to work much when they were younger.

Silver Support payments disbursed

Amount of Silver Support disbursed

Majority live in 1- 3 room HDB flats

2021-2023 Silver Support recipients by housing type

Proportion of Silver Support recipients by housing type

2 in 3 Silver Support recipients are female

Number of Silver Support recipients, breakdown by gender

Number of Silver Support recipients by gender