Singapore’s Retirement Savings Scheme Sees Record Payouts Amid Expanded Eligibility

SINGAPORE (Azat TV) – Singapore’s Matched Retirement Savings Scheme (MRSS) disbursed a record S$456 million in grants in 2025, benefiting over 250,000 members. This significant increase from previous years underscores the government’s commitment to bolstering retirement security for a wider segment of its population, driven by recent enhancements and an expansion of eligibility to include persons with disabilities starting January 1, 2026.

Record Payouts Reflect Enhanced Scheme

The S$456 million in matched retirement savings grants paid out for cash top-ups made in 2025 represents a sharp increase from the S$61 million disbursed to 103,000 members in 2024. This substantial growth is a direct result of key enhancements to the MRSS, which were implemented to encourage more Singaporeans to voluntarily top up their Central Provident Fund (CPF) Retirement Accounts.

Among the most impactful changes were the removal of the age cap and the introduction of higher annual matching limits. Previously, there were restrictions on who could benefit based on age, but these have since been lifted. The scheme now offers a dollar-for-dollar matching grant of up to S$2,000 per year, with a lifetime cap of S$20,000 per member. These changes aim to provide greater flexibility and incentive for individuals to build their retirement nest eggs.

The Ministry of Health, the Ministry of Manpower, and the CPF Board confirmed the record payout in a joint press release, highlighting the scheme’s growing success in supporting citizens’ financial planning for their later years.

Expanding Eligibility for Broader Impact

Further broadening its reach, the MRSS eligibility is set to expand from January 1, 2026, to include Singaporeans with disabilities of all ages. This crucial update allows younger individuals with disabilities to begin accumulating retirement savings earlier, providing them with a longer runway to build financial security.

According to SBR, approximately 750,000 Singaporeans are expected to qualify for the MRSS in 2026, a significant expansion that reflects the government’s inclusive approach to national welfare schemes. This wider access is anticipated to further boost participation rates and overall retirement preparedness across the population.

Introducing the Matched MediSave Scheme

Complementing the MRSS, a new five-year pilot program, the Matched MediSave Scheme (MMSS), was launched on January 1, 2025, and will run until 2030. This scheme is specifically designed to strengthen healthcare savings for eligible Singaporeans.

The MMSS offers matching contributions of up to S$1,000 a year for cash top-ups made to MediSave accounts. It targets individuals whose MediSave balances are below half the Basic Healthcare Sum, ensuring that those who need it most receive support in accumulating funds for their healthcare needs. By 2026, about 185,000 Singaporeans are expected to benefit from the MMSS’s matching support, according to CNA, further reinforcing the nation’s healthcare safety net.

Combined Benefits and Future Outlook

A significant number of Singaporeans are poised to benefit from both the MRSS and MMSS simultaneously. About 165,000 people may qualify for both schemes, potentially receiving up to S$3,000 in combined matching grants annually. This dual support provides a powerful incentive for citizens to proactively save for both their retirement and healthcare expenses.

Automatic eligibility assessments for these schemes are scheduled to begin at the end of January, with the corresponding credits for 2026 top-ups expected to be made in early 2027. This systematic approach ensures efficient disbursement and broad access to these vital financial support mechanisms.

The substantial increase in MRSS payouts and the strategic expansion of both retirement and healthcare savings schemes demonstrate the Singaporean government’s proactive and integrated approach to enhancing long-term financial security and social welfare for its citizens, particularly in an aging society.