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.
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.
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.