The Singapore Government has unveiled the Matched MediSave Scheme (MMS), which will officially begin in January 2026. This initiative is part of the country’s broader effort to ensure seniors are better prepared for medical expenses as they age. Under the scheme, voluntary cash top-ups made into MediSave Accounts will be matched dollar-for-dollar by the Government, with an annual cap of $1,000.
Over the five-year duration of the program, from 2026 to 2030, participants can receive up to $5,000 in matching grants on top of their own contributions. By boosting MediSave balances during a crucial phase of life, the scheme enhances both retirement readiness and healthcare security. Importantly, eligibility will be determined automatically by CPF, so citizens do not need to apply separately.
How the Scheme Operates
The MMS operates on a simple principle every cash top-up made by an eligible citizen or their family member will be matched by the Government, up to $1,000 per year. These grants will be credited to MediSave Accounts at the start of the following year. For instance, a 58-year-old who tops up $700 in 2026 will receive a $700 matching grant in early 2027. If the individual contributes more than $1,000, the maximum grant of $1,000 will still apply, ensuring fairness and consistency across the program.
This structure not only rewards proactive saving but also spreads benefits over several years, encouraging seniors to make steady contributions that build up gradually with CPF’s interest rates.
Key Features of MMS
The Matched MediSave Scheme has been designed with long-term sustainability in mind. Beginning in 2026, eligible citizens will enjoy a dollar-for-dollar match capped at $1,000 each year, with a potential maximum of $5,000 in government support over the five-year period. The savings also benefit from CPF’s interest rates, which can be as high as 6% annually, allowing balances to grow faster over time.
By crediting the matched amount in the following year, the scheme helps citizens maintain a cycle of consistent saving while ensuring they receive tangible rewards for their financial discipline.
Who Qualifies for MMS
Eligibility is determined automatically each year by CPF based on clear criteria. To qualify, citizens must be between the ages of 55 and 70 by the end of the year, earn a monthly income not exceeding $4,000, and own no more than one property. Additionally, their property’s annual value must not exceed $21,000, and their MediSave balance must be less than half of the prevailing Basic Healthcare Sum.
These conditions ensure that the scheme is focused on seniors who may have lower income or smaller savings, giving them the support needed to prepare for rising medical costs in retirement.
Why the Scheme Matters
The introduction of MMS provides security on both an individual and national level. For seniors, it means higher MediSave balances that can be used to cover hospitalization bills, outpatient treatments, and long-term care expenses. For families, it eases financial pressure by reducing out-of-pocket spending on medical needs for elderly members.
On a broader scale, the scheme strengthens Singapore’s healthcare financing system by encouraging personal responsibility while reducing dependence on government subsidies. This balance creates a more sustainable model that can adapt to future healthcare demands.
Tax Relief and Top-Ups
One important detail to note is how the scheme interacts with existing tax relief rules. While CPF top-ups typically qualify for tax deductions of up to $16,000 annually, contributions matched under MMS will not receive tax relief. However, top-ups made outside of the scheme can still qualify. This prevents overlapping benefits while allowing citizens to plan their contributions wisely.
Accessing Help and Support
All eligible citizens will be informed directly through letters or emails from CPF. Those who need further clarification can contact CPF via its hotline at 1800-222-3399 or use the overseas number +65-6222-3399 if applying from abroad. Citizens can also book appointments online with CPF service centres for personalized guidance.
Building Healthcare Security for the Future
The Matched MediSave Scheme is more than just a savings incentive it represents a commitment to financial security for Singapore’s ageing population. By offering up to $5,000 in grants over five years, combined with CPF’s strong interest rates, the scheme empowers seniors to save more effectively while ensuring they have sufficient healthcare funds for later years.
As Singapore continues to see rising life expectancy and higher healthcare demands, MMS is a forward-looking policy that strikes a balance between government support and individual responsibility. It lays the foundation for stronger retirement adequacy and healthier, more financially secure golden years.