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CPF Board
Qualifying for CPF Cash Top-Up Relief
This relief is given to encourage Singaporeans and Permanent Residents to set aside money for retirement needs either in their own CPF accounts or those of family members. To qualify, you must hold a Singapore NRIC and:
Top-up through Transfer of Funds
The tax relief is only for cash top-ups. The relief does not apply when the top-up is carried out by transferring funds from your own CPF Account to your own or a family member's Special/Retirement Account.
For more information on the procedures for topping-up the Special/Retirement Accounts under the CPF Retirement Sum Topping-Up Scheme, please visit the CPF website.
This relief is given to encourage Singaporeans and Permanent Residents to set aside money for retirement needs either in their own CPF accounts or those of family members. To qualify, you must hold a Singapore NRIC and:
- You and/or your employer on your behalf have made cash top-ups in the preceding year under the CPF Retirement Sum Topping-Up Scheme to your:
- Special Account (for recipients below age 55); or
- Retirement Account (for recipients age 55 and above).
- You have made a cash top-up in the preceding year under the CPF Retirement Sum Topping-Up Scheme to the Special/Retirement Accounts of your:
- Parents or Parents-in-law;
- Grandparents or Grandparents-in-law;
- Spouse; and/or
- Siblings.
Top-up through Transfer of Funds
The tax relief is only for cash top-ups. The relief does not apply when the top-up is carried out by transferring funds from your own CPF Account to your own or a family member's Special/Retirement Account.
For more information on the procedures for topping-up the Special/Retirement Accounts under the CPF Retirement Sum Topping-Up Scheme, please visit the CPF website.
Amount of Relief: Maximum CPF Cash Top-Up Relief per Year of Assessment (YA)
The maximum CPF Cash Top-up Relief per Year of Assessment (YA) is $14,000 (maximum $7,000 for self, and maximum $7,000 for family members).
Limit on Cash Top-Up Amount for Computing Tax Relief
In addition, there is a limit on the amount of cash top-up that qualifies for tax relief.
Income Threshold for Spouse/Siblings
To claim tax relief for cash top-ups for your spouse or siblings, the spouse or siblings must not have an annual income exceeding $4,000 in the year preceding the year of top-up.
Annual income includes taxable income (e.g. trade, employment and rental), tax exempt income (e.g. bank interest, dividends and pension) and foreign-sourced income regardless of whether it has been remitted to Singapore. This income threshold does not apply to parents, grandparents, handicapped* spouse or handicapped* siblings.
*Incapacitated because of physical or mental infirmity.
To claim tax relief for cash top-ups for your spouse or siblings, the spouse or siblings must not have an annual income exceeding $4,000 in the year preceding the year of top-up.
Annual income includes taxable income (e.g. trade, employment and rental), tax exempt income (e.g. bank interest, dividends and pension) and foreign-sourced income regardless of whether it has been remitted to Singapore. This income threshold does not apply to parents, grandparents, handicapped* spouse or handicapped* siblings.
*Incapacitated because of physical or mental infirmity.
CPF Board
For the Years of Assessment (YAs) 2020 and 2021, the applicable FRS and ERS amounts are as shown in the table below. For more information, please refer to CPF Board’s website.
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