Written Answer to PQ on Matched Retirement Savings Scheme

NOTICE PAPER NO. 2456 OF 2023 FOR A SITTING ON 9 JANUARY 2024
QUESTION NO. 5304 FOR WRITTEN ANSWER

MP: Ms Hazel Poa

To ask 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.

Answer:

1.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 MOM’s Committee of Supply debate.