435,000 Singaporeans who are unable to meet the CPF’s Basic Retirement Sum will get dollar-to-dollar matching to their CPF contribution of up to $600. Deputy Prime Minister Heng Swee Keat announced in today’s budget speech that a Matched Retirement Savings Scheme will be introduced from 2021 to 2025, to help this group of Singaporeans. Enhanced Silver Support Scheme To Include More Elderly This is in tangent with an Enhanced Silver Support Scheme, where Minister Heng promises an increase in quarterly payout for lower-income retirees, from $750 to $900. The enhanced Silver Support Scheme currently provides cash payouts to only 20% of Singaporeans. This is being relooked, as the eligibility criteria will be widened to include more seniors, with a new payout tier. Senior citizens who receive a monthly payout above $1,300/month but below $1,800/month will be considered for the new scheme. A new payout tier will also mean that...