By 2026, Singapore will expand the Matched MediSave Scheme (MMSS), offering eligible seniors up to a $5,050 Century Plan grant as an incentive to boost healthcare savings. The program ensures seniors have sufficient funds for medical bills and retirement needs.
What Is the Matched MediSave Scheme?
The MMSS encourages seniors to voluntarily contribute to their MediSave accounts. Contributions are matched by the government at a 1:1 ratio, promoting healthcare savings and reducing out-of-pocket costs for hospital, dental, outpatient, and approved medical expenses.
Eligibility for 2026 MMSS
- Singapore citizens aged 55 to 70 years.
- Own no more than one property.
- Reside in a house with an annual value not exceeding $21,000.
- Average monthly income not exceeding $4,000.
- MediSave account balance not exceeding 50% of the current Basic Healthcare Sum.
The CPF Board automatically evaluates eligibility each year and informs seniors early.
Claiming and Accessing the Grant
- Top-ups to MediSave accounts can be made via CPF Portal or at banks.
- Government matches top-ups at a 1:1 ratio, up to $1,000 annually per person for 5 years, totaling $5,000.
- No separate application is required; matching grants are automatically credited.
- Seniors can monitor top-ups and matching grants through CPF online services using SingPass.
Benefits of the Scheme
- Ensures sufficient medical expense savings.
- Provides financial security for retirement healthcare.
- Rewards proactive retirement savings through government-matched contributions.
| Eligibility Criteria | Details |
|---|---|
| Age Range | 55 to 70 years |
| Property Ownership | Owns up to one property |
| Income Threshold | Up to $4,000 per month |
| Government Match | Up to $1,000 per year per person |
| Total Maximum Grant | Up to $5,000 over 5 years |
FAQs
Q: Do I need to apply for the Matched MediSave grant?
A: No, eligibility is automatically determined and credits are applied to top-ups.
Q: How much does the government match?
A: Up to $1,000 per year over five years.
Q: How can the MediSave funds be used?
A: Funds can be used for approved hospital bills, outpatient care, and medical expenses.
The 2026 expansion of the Matched MediSave Scheme helps seniors in Singapore save effectively for healthcare, promoting financial autonomy and confidence in managing medical costs.
