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Age 50 - 54

Supplementary Retirement Scheme (SRS)



A voluntary scheme where contributions to this account are eligible for tax relief. You can make investment using this account and investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.

Key Information

The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings.

  • Contributions to SRS are eligible for tax relief.
  • Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.
  • From Year 2011 to 2015, the yearly maximum cap on SRS contribution is $12,750.
  • From Year 2016 onwards, the yearly maximum cap on SRS contribution is $15,300.

Qualifying Criteria/ Age Group

Singapore Citizens, Singapore Permanent Residents (SPRs) and foreigners who derive any form of income can make SRS contributions in the current year.

You must be:

  • At least 18 years of age;
  • Not an undischarged bankrupt;
  • Not suffering from a mental disorder; and
  • Capable of managing yourself and your affairs.

Resource Links/ References/ Details

IRAS – Supplementary Retirement Scheme (SRS)

Ministry of Finance: SRS

IRAS Hotline

1800 3568 300