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From 2026, Singaporean seniors will benefit from a new financial support programme aimed at boosting their MediSave savings. The Matched MediSave Scheme (MMSS) was introduced as part of the government’s efforts to enhance retirement and healthcare support. Eligible seniors can receive up to S$1,000 a year in matched grants when they or their family members make voluntary top-ups to their MediSave Accounts. Over five years, this could amount to S$5,000 in additional savings. Here’s everything you need to know.
How the Matched MediSave Scheme Works
The scheme will run from 2026 to 2030. Under this programme, the government will match every dollar of voluntary cash top-ups made to a senior’s MediSave Account, up to a limit of S$1,000 per year. The top-ups can be made by the senior themselves, their family members, employers, or community organisations. However, the top-ups must be in cash and directly credited to the MediSave Account. CPF transfers or deductions from other accounts do not qualify.
It’s also important to note that the matching grant will be credited in the following year. For instance, if the top-up is made in 2026, the government’s matching contribution will be credited in 2027.
Who is Eligible for the Scheme
The scheme is meant for lower- to middle-income seniors who have lower MediSave balances. To qualify, the individual must meet the following criteria:
They must be a Singapore citizen aged between 55 and 70 years old as of 31 December of the assessment year. Their MediSave balance must be less than half of the prevailing Basic Healthcare Sum. Their average monthly income should not exceed S$4,000. They must not own more than one property, and the annual value of their residence should be S$21,000 or lower.
There is no need to apply manually. CPF will assess eligibility each year, and qualified seniors will be notified automatically.
How Much Seniors Can Receive in Total
Over the five years of the scheme, an eligible senior can receive up to S$5,000 in total matched contributions. This assumes that S$1,000 in voluntary cash top-ups is made each year. If the contribution in any year is less than S$1,000, the government will still match the amount, dollar-for-dollar, up to the cap.
For example, if a senior receives a S$600 top-up in 2027, the government will match it with another S$600 in 2028. The matching amount is strictly limited to S$1,000 per year.
Why This Scheme Matters
The Matched MediSave Scheme aims to help seniors save more for healthcare expenses in their later years. MediSave is a critical component of Singapore’s healthcare financing system, used to pay for hospitalisation, day surgeries, and approved outpatient treatments, as well as health insurance premiums like MediShield Life and CareShield Life.
For many seniors, especially those who were previously in lower-paying jobs, part-time roles, or who took time off work for caregiving, MediSave balances may not be sufficient. This scheme provides a practical and supportive way for them to catch up on savings.
How the Scheme Complements Other Support
This scheme works alongside existing programmes such as the Matched Retirement Savings Scheme (MRSS), the Silver Support Scheme, and various medical subsidies. Together, they form a stronger social safety net for seniors. While MRSS focuses on boosting the Retirement Account, MMSS is specifically designed to help with healthcare savings.
The combined effect of these programmes is to reduce out-of-pocket costs for seniors while ensuring they have greater peace of mind regarding medical needs in old age.
Things to Keep in Mind
There are several important details that seniors and their families should note.
First, only top-ups made from 2026 onwards will qualify. Any contributions made before the scheme starts will not be eligible for matching. Second, only cash top-ups are eligible. CPF transfers or top-ups from other CPF accounts do not count. Third, the matching grant from the government does not qualify for tax relief. While some MediSave top-ups may allow for tax deductions, the matched amount under this scheme is not included in those benefits.
Also, eligibility is age-specific. Only those aged 55 to 70 years old will qualify. Seniors above the age of 70 will not be included unless future changes are made to the policy.
What Seniors and Families Should Do
If you or someone in your family may qualify for the scheme, it’s a good idea to start planning now. First, check the senior’s CPF MediSave balance to see if it is below half of the Basic Healthcare Sum. Also verify their average monthly income and property ownership status to ensure eligibility.
From 2026 onward, plan to make voluntary cash top-ups to the MediSave Account each year, up to S$1,000. If the senior qualifies, the CPF Board will send an official notification in January each year. Ensure the top-ups are made within that same calendar year so the matching grant can be paid the following year.
Keep clear records of all top-ups made, especially if they are done through family members or third parties. This can help resolve any issues should there be a delay or dispute in the matching grant disbursement.
Estimated Reach and Impact
According to early government estimates, around 184,000 seniors will qualify for the scheme. These individuals often come from backgrounds where CPF savings were limited due to irregular work, caregiving responsibilities, or lower-income employment.
This initiative is expected to make a meaningful difference for those seniors, improving their ability to manage healthcare costs and reducing reliance on family support or public assistance.
Final Thoughts
The Matched MediSave Scheme is a thoughtful and practical move to support seniors in Singapore. It provides a clear financial incentive to save for healthcare and encourages family members and communities to contribute. By offering up to S$5,000 in matched savings over five years, the government is giving seniors more tools to prepare for their future medical needs.
Starting in 2026, eligible seniors should take advantage of this scheme by making timely top-ups and ensuring they meet the annual criteria. With proper planning, this could significantly ease the burden of healthcare expenses during their retirement years.