If I were the Finance Minister, I would ... Review the Supplementary Retirement Scheme and make it more effective in helping people to make additional savings for retirement.
I will increase the amount of contribution to a flat 15% of annual income, or $16,000 whichever is higher.
For non-residents who do not contribute to CPF, I will allow an additional contribution of 20% of earnings, subject to a cap of $9,600 (being 20% on $4,000 X 12).
The other features of the SRS can remain the same.
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