Hundreds of thousands to receive higher government matching grants for retirement and healthcare savings
Singapore is significantly widening its social safety net by expanding two key matching schemes that directly boost retirement and healthcare savings, signaling stronger long-term support for aging and vulnerable citizens.
Expanded Retirement Matching Support
In a joint statement released on Jan 26, the Ministry of Health, Ministry of Manpower, and the Central Provident Fund Board announced that more Singaporeans will qualify for enhanced government matching contributions under the Matched Retirement Savings Scheme and the Matched MediSave Scheme starting in 2026.
Under the expanded Matched Retirement Savings Scheme, about 750,000 Singaporeans are expected to be eligible in 2026. This follows a sharp rise from 103,000 beneficiaries in 2024 to more than 250,000 in 2025, after major enhancements were introduced.
Higher Grants And Broader Eligibility
First launched in 2021, the Matched Retirement Savings Scheme was designed to help senior Singaporeans with lower retirement savings. In 2025, the scheme was enhanced by removing the age cap of 70 and increasing the annual matching grant to S$2,000, with a lifetime cap of S$20,000.
As a result, S$456 million in matching grants was credited in 2025, a substantial increase from S$61 million the year before. The scheme now applies to Singapore citizens aged 55 and above whose CPF Retirement Account savings fall below the Basic Retirement Sum, currently set at S$110,200 for 2026.
Inclusion Of Singaporeans With Disabilities
From Jan 1, the scheme was further expanded to include Singaporeans with disabilities of all ages. Eligible individuals below 55 with Ordinary and Special Account savings below the Basic Retirement Sum can now receive dollar-for-dollar matching grants of up to S$2,000 annually, also capped at S$20,000 over their lifetime.
Authorities said this change allows younger Singaporeans with disabilities to begin building retirement savings earlier through cash top-ups to their CPF Special Accounts.
Launch Of Matched MediSave Scheme
Alongside retirement support, the Government introduced the new Matched MediSave Scheme on Jan 1 as a five-year pilot running until 2030. About 185,000 Singaporeans are eligible under this initiative.
The scheme matches cash top-ups to MediSave Accounts dollar for dollar, up to S$1,000 per year. It applies to Singapore citizens aged 55 to 70 whose MediSave savings fall below half of the Basic Healthcare Sum, which stands at S$79,000. For 2026, those with balances under S$39,500 qualify.
Choosing Between Retirement And Healthcare Needs
Roughly 165,000 Singaporeans are eligible for both schemes and could receive up to S$3,000 in total matching grants in 2026. However, the agencies cautioned that top-ups receiving matching grants will not qualify for personal income tax relief.
Officials encouraged members and families with limited funds to assess their priorities carefully. Those focused on long-term retirement income may benefit more from topping up their Retirement Account, while individuals anticipating higher healthcare costs may prefer to strengthen their MediSave savings.
The expansion of these matching schemes reflects Singapore’s growing emphasis on inclusive and proactive financial security, particularly as the population ages. For Indonesians observing Singapore’s social policy model and Singaporeans planning for long-term stability, the initiatives highlight how targeted government matching can play a crucial role in strengthening retirement readiness and healthcare resilience across generations.
Sources: Straits Times (2026) , MOH GOV SG (2026)
Keywords: Matched Retirement Savings Scheme, Matched MediSave Scheme, CPF Contributions, Singapore Budget, Retirement Accounts
