Ever wonder why the Singapore government created the Supplementary Retirement Scheme (SRS) in 2001?
The SRS is a voluntary scheme to encourage individuals to save more for their golden years over and above their CPF savings. As an incentive, those who make SRS contributons enjoy additional tax relief.
You can grow your SRS funds exponentially through long term investments, which would help to ensure you have sufficient assets for a comfortable retirement.
Here are some benefits relating to SRS Investments:
o Contributions to SRS account are eligible for tax relief
o Grow your retirement funds through SRS Investments
o Investment returns are tax-free
o 50% of the withdrawals from SRS are taxable at retirement
If you wish to know how to maximize returns using SRS funds, please leave your contact details with us here. We will be happy to assist!
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Will I be able to retire comfortably?