More members are topping up for themselves and their loved ones to boost retirement adequacy
No. of members making top-ups has more than doubled since 2020
Notes:
- Based on unique givers, if a member tops up for himself and someone else, he will only be counted as a giver once.
- Launched in 2021, the Matched Retirement Sum Scheme aims to help senior Singapore citizens with lower retirement savings by matching every dollar of cash top-ups made to the retirement account of eligible members of up to $600 per year.
Total amount of retirement sum top-ups rose 60% from 2020 to 2022
Breakdown of top-ups by giver's relationship
(For multiple recipients, counted once in each relationship category)
Strong support for seniors via CPF top-ups from loved ones
CPF top-ups received by seniors (age 55 and above) from loved ones
Most CPF top-ups to seniors were from their children or spouse
Amount of CPF top-ups, by giver (2020-2022)
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