Depending on your age bracket, the Contribution and Allocation rates will differ to ensure that your other financial needs are also met.

The Basic Retirement Sum (BRS) for each cohort of 55-year old CPF members will be announced on the CPF website prior to help you prepare ahead of time. What can you do with your current savings in these accounts?

Take this time to run through your current CPF savings. Decide which CPF LIFE scheme plan would be best for you based on your funds and the lifestyle you want to have during retirement.

❓ Lost with all the terms and acronyms? Check out ST's quick-look glossary list here <bit.ly/3fSeaBV>

Effective from 2021, the Government has introduced the Matched Retirement Savings Scheme (MRSS) which provides dollar-for-dollar match into the Retirement Account (RA) that can help senior Singaporeans to meet their Basic Retirement Sum (BRS).

You can also do a voluntary cash top-up to the CPF accounts of eligible senior citizens (like your parents) under the Retirement Sum Topping-Up (RTSU) scheme! What's more - enjoy the prevailing RTSU benefits such as up to S$7,000 income tax relief.

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