3 benefits of topping up your CPF

10 Jun 2016 

3 benefits of topping up your CPF.png 

Here are 3 benefits you and your loved ones can enjoy when you top up your/their CPF accounts under the  Retirement Sum Topping-Up scheme.


1.    Enjoy interest rates of up to 6% p.a. on your CPF savings

From January 2016, CPF members 55 and above will earn an additional 1% interest will be paid on the first $30,000 of combined CPF balances for all members aged 55 and above. This is on top of the existing 1% extra interest on the first $60,000 of combined CPF balances. Combined balances refer to the total balances in your Ordinary, Special, Medisave and Retirement Accounts, including the annuity premiums for CPF LIFE less any payouts made. Members aged 55 and above will enjoy 6% interest per annum on first $30,000 of their combined balances.


2.    Grow retirement savings to receive higher monthly payouts for life

If you are aged 55 and above, consider topping up to the Enhanced Retirement Sum (ERS), currently $241,000. If you are below 55, you can top up to the Full Retirement Sum (FRS), currently $161,000.


For members aged 55 this year have set aside the ERS, you will to receive monthly payouts of $1,770 - $1,920 from age 65 for life.   


3.    Enjoy up to $14,000 dollar-for-dollar tax relief every year when you make top-ups for yourself and loved ones

You can enjoy tax relief of up to $7,000 when you make cash top-ups for yourself. You will enjoy an additional tax relief of up to $7,000 when you make cash top-ups to your loved ones.


#DidYouKnow that in the last 5 years, the number of top ups have increased more than double!


In 2015, the total number of top ups have almost doubled from 2011. The total amount topped up have more than doubled from $246.8 million in 2011 to $644.9 million to 2015.

Year 2011 2012 2013 2014 2015

Total no. of
(excluding self-OA to SA transfers)



You can top up your CPF via  e-cashier, OCBC Internet Banking or GIRO to reap the benefits of topping up today!

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