Extension of Matched Retirement Savings Scheme to Cover Seniors Aged Above 70

Ms Hazel Poa asked the Minister for Manpower (a) why does the Matched Retirement Savings Scheme not cover seniors aged above 70; and (b) whether there are any plans to extend the scheme to cover seniors above 70, especially those who are still working.

Dr Tan See Leng: As part of the retirement adequacy measures announced at the National Day Rally and in the Forward Singapore report, the Government will be enhancing the Matched Retirement Savings Scheme. Details will be announced at Budget 2024 and the Ministry of Manpower’s Committee of Supply debate.