Supplementary Retirement Scheme (SRS) Singapore: The Complete Guide to Tax Savings, Withdrawals & Investments
Key Takeaways The Supplementary Retirement Scheme (SRS) is a voluntary savings scheme that lets you reduce your taxable income dollar-for-dollar up to S$15,300 per year for Singaporeans and PRs, and S$35,700 per year for foreigners. Funds in your SRS account earn only 0.05% p.a. interest, so you should invest them in eligible instruments like stocks, […]
SRS vs CPF: Which Should You Top Up for Tax Relief?
Key Takeaways: The CPF scheme is a social security savings scheme that helps Singaporeans and PRs save money for retirement and healthcare costs. CPF members can make voluntary top-ups to their own and their family members’ CPF accounts, enjoying tax relief on their contributions. The SRS is a voluntary savings scheme open to Singaporeans, PRs […]
CPF Investment Scheme (CPFIS) Guide for CPF OA + SA
Key Takeaways The CPFIS lets you invest your CPF OA and SA savings in approved financial products. CPF members with at least S$20,000 in their OA and/or S$40,000 in their SA could be eligible for the CPFIS. Available products include insurance products, unit trusts, bonds, fixed deposits and Singapore treasury bills (T-bills). Want to make […]