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#SGBudget2022: Basic Retirement Sum to be raised to help retiring seniors
The BRS will be raised by 3.5 per cent for the next 5 cohorts turning 55 between 2023 and 2027.
Those who do set aside their BRS when they turn 55 in 2027 will receive payouts of close to S$1,000 per month when they turn 65 years. These payouts will continue for the rest of their lives.
There is no need for members to top up their CPF if they are unable to set aside their BRS.
