OBJ50 is a component of the Singapore Retirement (SR) Passives, a component of Singapore's Retirement Adequacy system. It is one of the three pillars of the Retirement Adequacy system, with the other two being the Central Provident Fund (CPF) and the Supplementary Retirement Scheme (SRS).
OBJ50 is designed specifically for those aged 50 and above who are employed and self–employed CPF members. With this scheme, the government provides an additional savings amount to help people save for retirement. This is done through a combination of a Special Account top-up and a matching multiplier which can increase the member's savings in their Retirement Account. This enables people to increase the amount they are able to put aside for retirement.