Since my parents are eligible for the Matched Retirement Savings Scheme (MRSS), it would make sense to take advantage of it to boost their retirement funds and some tax relief. Unfortunately GrabPay can no longer be use to top up CPF.
Dollars and Sense has a very good step by step guide to top up your CPF Matched Retirement Savings Scheme (MRSS). Hence, I did not plan to write a blog post about it but I realised that a screenshots may have changed since the article was written a few months.
https://dollarsandsense.sg/step-step-guide-top-cpf-matched-retirement-savings-scheme-mrss/
I will just quickly capture the screenshots for my own reference. Readers may want to refer to the above link for a detailed guide.
1. Access CPF E-Cashier Website
URL: https://www.cpf.gov.sg/eSvc/Web/Miscellaneous/Cashier/ECashierHomepage
I made a mistake and entered my parent’s NRIC. I should enter my own NRIC instead.
2. Accept the Terms & Conditions
3. Topping Up your/your recipient’s Retirement Savings - Retirement Account (Step 1)
4. Topping Up your/your recipient’s Retirement Savings - Retirement Account (Step 2)
5. Topping Up your/your recipient’s Retirement Savings - Retirement Account (Step 3)
6. Acknowledgment
Use UOB Absolute to top up GrabPay and use GrabPay to PayNow CPF to enjoy 1.7% cash back.
You will also receive a email from CPF with the subject: “[Payment pending] Request to top up my own/recipient's Retirement Savings”
7. Payment
You will receive a email from CPF with the content “… Your request to top up my own/recipient's Retirement Account (RA) (Transaction Number: XXXX) submitted on DD/MM/YYYY is successful.”
Photo by Benoit Gauzere on Unsplash