Cash Top-Ups

You can build up your own or your loved ones’ retirement savings by topping up the CPF account in cash.Other than letting your savings grow along with attractive interest rates, you and your loved ones will also receive higher monthly payouts during retirement!

Benefits


Attractive
interest
rates
cashtopup_tab_icon1
Tax relief
for cash
top-ups
cashtopup_tab_icon2
Lifelong
payouts with
CPF LIFE
cashtopup_tab_icon3
Higher
payouts in
retirement
cashtopup_tab_icon4

Attractive interest rates of up to 5% p.a. on savings in the Special Account,
and up to 6% p.a. on savings in the Retirement Account


Additional
1%
Extra
Interest
From 55 years old
On the first $30k of combined CPF balances
(up to $20k from OA)
1%
Extra
Interest
On the first $60k of combined CPF balances
(up to $20k from OA)

Ordinary
Account
(OA)

Special and
Medisave
Accounts
(SA & MA)

Retirement
Account (RA)
(From 55)

Enjoy tax relief of up to $14,000 a year for cash top-ups made up to the Full Retirement Sum to yourself and your loved ones

You can get dollar-for-dollar tax relief for:

Cash top-ups for yourself:
up to $7,000 yearly

Cash top-ups for your loved ones:
up to $7,000 yearly

Build up your savings and receive lifelong monthly payouts with CPF LIFE

As people enjoy higher life expectancies, ensuring you have a stream of lifelong income to meet your retirement needs becomes increasingly important. This is where CPF LIFE, an annuity scheme, comes into play. It provides you with a monthly payout for life, so you won’t have to worry about outliving your savings.

If you were born in 1958 or after, and have at least $60,000 in your Retirement Account six months before reaching your payout eligibility age, you will be automatically placed on CPF LIFE. If you have lower savings or are born before 1958, you can also opt in to join the scheme any time before age 80.

By building up your own or your loved ones’ retirement savings with CPF transfers and cash top-ups, you can secure higher payouts for life!


3 Facts to help you understand annuities better

1

An annuity is a type
of life insurance
policy, usually
purchased to provide
for retirement needs.

cashtopup_bubble_img1

2

It works by providing
a stream of regular
monthly income,
payable to you upon
retirement.

cashtopup_bubble_img2

3

This regular income
is payable until death
so the longer you live,
the more you will receive.

cashtopup_bubble_img3

Get higher payouts in retirement by building up your CPF savings early

It's always the right time to take action. With interest rates starting from 4% p.a. on savings in the Special and Retirement Accounts, every dollar you save in there will be growing year after year. And the earlier you make cash top-ups, the more you stand to gain from the compound interest over time!

What's more, the first $60,000 in your combined CPF savings also earns a 1% p.a. extra interest, helping your savings grow even faster. And if you're 55 and above, you'll also earn another 1% p.a. additional extra interest on the first $30,000 of your combined savings. How's that for a good deal?



Top-up Limits



3 Ways to Top Up

cashtopup_3WaystoTopUp_icon1

Online

  • Visit the e-Cashier page
  • At the ‘Payment for’ selection, choose the relevant top-up that you wish to make
  • Make payment via eNETS Debit (DBS/POSB, UOB, Citibank, OCBC and Standard Chartered Bank)

cashtopup_3WaystoTopUp_icon2

AXS Station

  • Visit your nearest AXS station
  • Select the Retirement Sum Topping-Up scheme
  • Top up your own or your loved ones’ accounts via NETS or Diners Club Credit Card

cashtopup_3WaystoTopUp_icon3

Mail

For a one-time cash top-up:

  • Download and fill up this form
  • Mail it with your cheque to ‘CPF Board, Robinson Road P.O. Box 3060 Singapore 905060’

If you wish to make regular cash top-ups:

  • Download and fill up this GIRO form
  • Mail it to ‘CPF Board, Robinson Road P.O. Box 3060 Singapore 905060’
  • Your application will be processed within 28 working days




Terms & Conditions

Read More



spacer