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Supplementary Retirement Scheme (SRS)

 

Overview

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). CPF savings are meant to provide for housing and medical needs and for basic living needs after retirement. Unlike the CPF scheme, participation in SRS is voluntary. SRS members can contribute a varying amount to SRS (subject to a cap) at their own discretion. The contributions may be used to purchase various investment instruments.

 

Benefits

The SRS offers attractive tax benefits. Contributions to SRS are eligible for tax relief, investment returns are accumulated tax-free and only 50% of the withdrawals from SRS are taxable at retirement (referred to as a “50% tax concession”).

You may refer to IRAS' website for more information on how withdrawals will be taxed.

 

Downloads

SRS Booklet [In English] – (Word & PDF Versions)

SRS Statistics

SRS Declaration Form for Foreigners

Medical Certificate Form

Please click on the SRS FAQs to learn more of the scheme.

If you do not already have Adobe Reader or Microsoft Word, please download the software for free here: [pdf] [word].

 
 
         
  Last Reviewed on 09 Apr 2014