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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.
The SRS is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population by helping Singaporeans to save more for their old age. It began in 2001 and is operated by the private sector. The SRS complements the Central Provident Fund (CPF).
The Supplementary Retirement Scheme (SRS) is a voluntary savings program that enables individuals to save for retirement in addition to their Central Provident Fund (CPF) savings contributions.
Feb 1, 2023 · While your compulsory CPF savings can help you save for retirement, you can take a more proactive approach to saving more for your retirement with the voluntary Supplementary Retirement Scheme (SRS) which was introduced by the Singapore government in 2001.
Singapore's Supplementary Retirement Scheme (SRS) can be a great way to save for retirement while taking advantage of tax savings. In this blog post, we will discuss the benefits of contributing to SRS, tax planning strategies for SRS withdrawals, and how to make the most of your SRS funds with investment options.
Jan 11, 2022 · What is SRS? While the CPF Ordinary Account and Special Account are meant to provide for the basic needs of retirement, the Supplementary Retirement Scheme (SRS) is what the name suggests – it supplements it. Started in 2001, the only way to fund the SRS account is through cash.
SRS is a scheme that allows you to save and invest for your retirement with tax benefits. Learn how to use SRS to maximise your returns, access educational resources and FAQs, and find out how to transfer your SRS account.
