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.

CONTACT US