How SRS Works
Reduce your taxes today while building your retirement savings for tomorrow
What is the Supplementary Retirement Scheme?
The Supplementary Retirement Scheme (SRS) is a voluntary savings programme to help Singaporeans and residents build additional retirement funds beyond CPF. Every dollar you contribute reduces your taxable income, giving you immediate tax savings.
Contribution Limits
You can contribute up to the following amounts each year:
| Residency Status | Annual Limit |
|---|---|
| Singaporeans & PRs | S$15,300 |
| Foreigners | S$35,700 |
Example: If your taxable income is S$100,000 and you contribute the full S$15,300, your taxable income becomes S$84,700. At the 11.5% marginal tax rate, that is approximately S$1,760 in tax savings.
Tax Savings Calculator
Why Invest Your SRS?
Money sitting in your SRS account earns just 0.05% per year. At this rate, S$15,300 earns less than S$8 in interest annually. Meanwhile, inflation quietly erodes your purchasing power.
By investing your SRS funds, you give your retirement savings a chance to grow meaningfully, and any investment returns remain tax-free while inside the account.
| Scenario | S$15,300 after 20 Years |
|---|---|
| Left in SRS cash (0.05% p.a.) | S$15,454 |
| Invested at 3% p.a. | S$27,641 |
| Invested at 6% p.a. | S$49,069 |
| Invested at 9% p.a. | S$85,780 |
Figures are for illustration only. Actual returns depend on market conditions and investment choices. Past performance does not guarantee future results.
What can you invest in? SRS funds can be invested in unit trusts, shares, ETFs, Singapore Savings Bonds, fixed deposits, and insurance products. We offer three model portfolios with 12-23 years of backtested data, all available for SRS investments. View Our Portfolios →
SRS Growth Projector
See how your SRS investments could grow over time. Enter your details below to project your retirement savings at different rates of return.
| Age | Contribution | Balance (6%) | Balance (8%) | Balance (10%) |
|---|
• Contributions are assumed to be made at the start of each year
• Returns are compounded annually at the selected rate
• Projections are for illustration purposes only and do not guarantee actual results
• Actual investment returns depend on market conditions and investment choices
• Past performance does not guarantee future results
• This calculator does not account for fees, taxes, or inflation
• We are not financial advisors. Please consult a licensed professional for advice specific to your situation.
How to Get Started
💡 Tip: The statutory retirement age is locked at the time of your first SRS contribution. Opening an account earlier locks in a lower retirement age for penalty-free withdrawals.
Key Rules to Know
Before you start, here are the essential SRS rules.
| Contribution Limits | S$15,300 per year for Singaporeans and PRs S$35,700 per year for foreigners |
| Contribution Deadline | 31 December each year to qualify for tax relief in the following Year of Assessment |
| Penalty-Free Withdrawal | From the statutory retirement age prevailing at your first contribution (currently 63, rising to 64 from 1 July 2026). Only 50% of withdrawals are taxable. |
| Early Withdrawal | 100% of the withdrawal is taxable, plus a 5% penalty. Exceptions apply for death, terminal illness, medical grounds, or bankruptcy. |
| 10-Year Withdrawal Window | Once you make your first penalty-free withdrawal, you have 10 years to withdraw the remaining balance. Any balance left after 10 years is deemed withdrawn and taxed accordingly. |
| One Account Only | You can only have one SRS account at any time. Opening multiple accounts is an offence and may result in penalties. |
| Tax Relief Cap | SRS contributions count towards the overall personal income tax relief cap of S$80,000 per year. |
For complete details on SRS rules and tax treatment, visit the IRAS website.
Ready to Make Your SRS Work Harder?
Whether you are new to SRS or looking to invest your existing balance, we can help you find a portfolio that fits your goals and timeline.
Book a ConsultationThis page is for educational purposes only and does not constitute tax or financial advice. We are not tax advisors and do not provide tax advisory services.
Actual tax savings depend on your individual circumstances, including total personal reliefs claimed and chargeable income. Please consult IRAS or a qualified tax professional for advice specific to your situation.
All investments carry risk, including the potential loss of principal. Past performance does not guarantee future results.