What incentives are there for me to top up to my loved ones under the Matched MediSave Scheme given that there is no tax relief for me?
Topping up to your loved ones’ MediSave accounts helps them to grow their healthcare savings and provide them with greater peace of mind.
Recipients of cash top-ups who are eligible for the Matched MediSave Scheme (MMSS) can also receive a matching grant of up to $1,000 per year from the Government, which further boosts their MediSave savings.
You may continue to enjoy tax relief of up to $16,000 a year for eligible cash top-ups that do not attract matching grants from MMSS and Matched Retirement Savings Scheme ($8,000 per year for top-ups to yourself and another $8,000 per year for top-ups to your loved ones).
This information is sourced from CPF
Related questions
What happens if I make multiple top-ups and exceed the annual matching cap of $1,000 for Matched MediSave Scheme? Will the excess top-ups be eligible for tax relief?
How are the matching grants and tax relief determined for my cash top-ups made to a recipient eligible for the Matched MediSave Scheme?
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