Announced during Budget 2020 and launched in 2021, CPF’s Matched Retirement Savings Scheme (MRSS) aims to help senior Singapore Citizens with lower retirement savings to build up more when they top up their CPF Retirement Account (RA). Eligible senior Singaporeans can enjoy a dollar-for-dollar matching grant of up to S$600 from the Singapore government. In this article, we will delve into MRSS’ merits and limitations, and the ways to do the top-up. How does MRSS work? Launched in 2021, MRSS provides a dollar-for-dollar matching grant of up to S$600 annually when an eligible senior Singaporean makes a cash top-up to their CPF RA. The scheme will run for five years for a start, until 2025, and one can enjoy a maximum of S$3,000 in matching top-ups. For those eligible, a top-up anytime during the year to their CPF RA will see the matching grant automatically credited to their RA at the start of the following year. For  ...