The 'CPF cash top-up relief' encourages individuals to save for their retirement and that of their dependents.
Who can claim
- CPF cash top-up relief is given if you are a Singapore NRIC holder and you or your employer has made cash top-ups to your own retirement account under the CPF Minimum Sum Topping-Up Scheme.
- Additional relief will also be given for cash top-ups by you to the following recipient's Minimum Sum: Your
- grandparents or parents
- spouse/handicapped spouse or siblings/handicapped siblings (He/she must not have income (e.g. salary or tax exempt income such as bank interest, dividend and pension) exceeding $2,000 in the year preceding the year of top-up.)
With effect from Year of Assessment (YA) 2011, the income threshold for spouse or siblings will be increased from $2,000 to $4,000. There will be no income threshold condition for handicapped spouse or handicapped siblingsNEW!.
To find out the conditions and procedures for topping up retirement accounts under CPF Minimum Sum Topping-Up Scheme, please send an email to the CPF Board at retirement@cpf.gov.sg.
How much you can claim
Contribution by cash to retirement accounts under the CPF Minimum Sum Topping-Up Scheme will enable you to claim up to:
Cash Topped-up
|
Amount of relief
|
| by yourself or employer to your account |
Actual cash topped-up or up to Max of $7,000 |
| by you for your parents, grandparents, siblings and spouse |
Actual cash topped-up or up to Max of $7,000 |
Maximum Relief
|
$14,000 |
Additional Information:
Topping-up of accounts through transfer of funds from your own CPF account to that of your own / family members' retirement account does NOT qualify for deduction.
How to claim
You do not need to claim this relief as it will be granted automatically based on your eligibility and records sent to us by CPF Board.
Find out more about how to submit your tax form.