$3.3 million distributed to 830 senior zakat beneficiaries’ CPF retirement savings, says MUIS
MUIS will also review the zakat assistance framework to ensure aid is relevant and available long-term.
The Islamic Religious Council of Singapore (MUIS) has allocated approximately $3.3 million in CPF Retirement Account top-ups to over 800 senior zakat beneficiaries in Singapore's first year of the MUIS-CPF Matched Retirement Savings Scheme (MRSS). MUIS contributed about $1.66 million from zakat funds, with the Government matching the amount dollar for dollar.
This resulted in approximately $3.3 million being credited to beneficiaries' CPF Retirement Accounts. The scheme, introduced in 2025, aims to assist eligible senior zakat beneficiaries in strengthening their retirement savings and ensuring long-term financial security. MUIS plans to continue reaching out to eligible seniors who haven't yet participated in the MRSS.
The annual scheme not only provides financial assistance but also connects beneficiaries to a network of care, health programs, and spiritual guidance through mosques. The scheme will be reviewed to ensure it remains relevant and accessible to underprivileged groups.
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