Anonymous
RSS or CPF LIFE
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Oh my bad!
this one on the Matches Retirement Saving Scheme.
Matched Retirement Savings Scheme (MRSS): Get Dollar-To-Dollar Matching for Cash Top-Ups
thank you!
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Hariz Arthur Maloy
19 Jul 2020
Independent Financial Advisor at Promiseland Independent
Wait, what does? Could you link the article or topic you are referencing?...
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I think it applies to both, but those who are eligible will be notified by CPF board.
The scheme targets only those who are 55-70, and have less than BRS set aside, so these are the folks who will have low cpf payout as it is. [I beleve you get 800-1k per mth maximum at the full BRS amount now). The scheme encourages top-ups and the 1 for 1 match to get the higher payout, because you are looking at folks who may have so little in their cpf that they may only be getting less than 100 to 200 monthly payout.
Basically the target recipients will be those under Merdaka generation and a little younger than that, as there are a large portion of those folks who had few education, and jobs that may not contribute cpf.
If you know of someone who qualifies, then you should consider helping them even if you may not qualify for the tax relief. Any dollar added to their cpf goes a long way for their lives.