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SRS – Save Tax & Invest the Smart way

The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement. 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.

3 things you need to know about SRS

• SRS contributions are voluntary
• SRS contributions reduce your taxable income. For example if you earn $100,000/yr and contribute $15,000, you will only be taxed based on $85,000
• SRS monies can be used for selected insurance and investment plans

For Singaporeans & Permanent Residents

  • Maximum SRS contribution: $15,300/yr
  • Withdrawing from SRS: At statutory retirement age (currently age 63)
  • SRS Withdrawal method: over 10yrs
  • Annual Tax savings if you contribute $15,300 to SRS based on 20% tax bracket: $3,060

For Foreigners

  • Maximum SRS contribution: $35,700/yr
  • Withdrawing from SRS: 10years from the SRS account opening date
  • SRS Withdrawal method: in a lumpsum
  • Annual Tax savings if you contribute $35,700 to SRS based on 20% tax bracket: $7,140

Read more on Supplementary Retirement Scheme here

How SRS can help you Grow your wealth

For Singaporeans & Permanent Residents

If you set aside $15,300/yr over 20yrs at 5%pa, you would have accumulated $505,000!

For Foreigners

Similarly if you set aside $35,700/yr over 10yrs at 5%pa, you would have accumulated $450,000!

While reducing your taxes, your SRS contribution can also be put to more efficient use through investing in a wide range of retirement solutions including Institutional Funds.

Benefits of Institutional funds

  • Institutional funds are low-expense investments intended for large institutions and Accredited Investors (income > $300k/yr OR Net Assets > $2mil)
  • Such funds are not readily available on Retail Platforms / Banks, helps to diversify from current investments
  • One of our recommended funds has consistent performance (>10%pa over last 10yrs)

What’s Next

If you would like to find out which are the best tax savings & investing solutions for you, do drop me an email at winniechan@fapl.sg or chat with me here

Important: The information and opinions in this article are for general information purposes only. They should not be relied on as professional financial advice. Readers should seek unbiased financial advice that is customised to their specific financial objectives, situations & needs. This advertisement or publication has not been reviewed by the Monetary Authority of Singapore.

Published By:

Chan Wen Li Winnie

Winnie Chan is a Certified Financial Planner (CFP) and MDRT Court of the Table qualifier (top 5% of advisers) with 15 years of experience in financial advisory services.

She specialises in helping doctors and high-income professionals build sustainable passive income, protect what they’ve worked for, and create a financial legacy for the people they love. Working across different insurers and investment platforms, Winnie focuses on finding the right fit for each client — not the other way around.

Her experience supporting clients through insurance claims has helped families access the financial protection they planned for, providing peace of mind during life’s most challenging moments.

Winnie was recognised as a Top 5 Weighted Premium producer at Financial Alliance in 2025 — out of close to 500 advisers — and received industry-level recognition for Top 3 Single Premium category Insurer award.

She has also brought financial education to organisations including Carousell Group, Singapore National Eye Centre, and Singtel.

Outside of work, Winnie stays active through regular gym workouts and is an accomplished pianist — recently attaining ABRSM Piano Performance Grade 6 (Merit).
She believes balance matters in finances, and in life.

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根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

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  • Financial Alliance Pte Ltd ( “FAPL”) is licensed by the Monetary Authority of Singapore (“MAS”) and allowed to conduct financial advisory activities in accordance with the Financial Advisers Act (Cap. 110) (“FAA”) and the Securities & Futures Act (Cap. 289) (“SFA”) within the jurisdiction of the Republic of Singapore and in accordance with the licenses granted by MAS
  • 鑫盟理财私人有限公司( “鑫盟理财”)持有由新加坡金融管理局(“MAS”)所颁发的牌照，并许可在新加坡共和国境内依据财务顾问法（第110章）和证券与期货交易法（第289章）进行财务咨询等相关业务
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  • As an integral part of the provision of such services, FAPL may from time to time make available to such residents, documents and information making reference to capital markets products (for example, in connection with the provision of fund management or investment advisory services outside of the foreign jurisdiction).
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  • Such documents and information are provided by Financial Alliance Pte Ltd (“FAPL”) is for general information only and is not intended for anyone other than the recipient.
  • 此类由鑫盟理财所提供的文件和信息仅供收件人做一般信息参考。
  • It does not take into account the specific investment objectives, financial situation or particular needs of any particular person.
  • 此类文件和信息不会把-个人投资目标，财务状况或其特定需求等考虑在内。
  • It does not constitute the making available of, or an offer or solicitation by FAPL to buy or sell or subscribe for any such capital markets product or to enter into a transaction or to participate in any particular trading or investment strategy nor an advice or a recommendation with respect to such financial products.
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  • These documents may not be published, circulated, reproduced or distributed in whole or in part to any other person without FAPL’s prior written consent.
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  • You shall ensure that you have and will continue to be fully compliant with all applicable laws in your home country when entering into discussion or contracts with FAPL.
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In compliance with the Personal Data Protection Act, Financial Alliance Pte Ltd (“FAPL”) seek your consent to collect and use your personal data (e.g. name, NRIC, contact numbers, mailing addresses, email addresses and photograph) for the purposes of and in accordance with FAPL’s Data Protection Policy, which can be found on FAPL’s website at https://fa.com.sg/data-protection-policy/.

根据《个人数据保护法》，鑫盟理财私人有限公司征求您的同意向您收集并使用您的个人信息。鑫盟理财将根据公司的个人数据保护政策所阐述的用途使用您的个人资料（例如姓名，证件号码，联系电话，邮寄地址，电邮地址和照片）。 该政策可在本公司网站上查寻，网址为 https://fa.com.sg/data-protection-policy/.

By submitting this form, you are deemed to have read and understood FAPL’s Personal Data Policy.

提交此表格，即表示您已阅读并理解鑫盟理财私人有限公司的个人数据政策