Explore SRS investment options and save on your income tax

The Supplementary Retirement Scheme (SRS) is a voluntary scheme that helps Singapore citizens, PRs, and foreigners working in Singapore save for retirement. Every dollar you contribute reduces your taxable income, up to the annual cap and within the $80,000 personal relief cap.

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For example, a Singapore citizen earning $100,000 with $36,000 of other reliefs who contributes $15,300 in SRS monies reduces his/her taxable income from $64,000 to $48,700, and hence reducing payable tax by about 48% from $2,230 to $1,159. Illustrative only; excludes tax rebates.

$15,300 a year for Singapore citizens and PRs, and $35,700 for foreigners. There is no minimum contribution. Contributions made by 31 December qualify for relief in the following Year of Assessment.

You can withdraw penalty-free from your prescribed retirement age: the statutory retirement age in force when you made your first contribution. For first contributions on or after 1 July 2026, that age is 64*.

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From then on, only 50% of each withdrawal is taxable. Withdrawals before that age are fully taxable and incur a 5% penalty, unless an exemption such as medical grounds applies.

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*As of YA 2026.

Once you make your first penalty-free withdrawal, you have up to 10 years to withdraw your balance. Any amount left at the end of that period is treated as withdrawn, and 50% of it is taxed.

It depends mainly on your marginal tax rate and on whether you invest the money. The tax you save equals your contribution multiplied by your marginal rate, so the same contribution saves more at higher incomes. In exchange, the money is intended to stay in SRS until your retirement age, and left idle in your SRS account it earns a meagre 0.05% a year.

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Speak with our MAS-licensed client advisor should you need help with your retirement planning.

No. CPF is a mandatory scheme funded by employer and employee contributions. SRS is voluntary and open to Singapore citizens, PRs, and foreigners. Both offer tax relief. SRS money can be invested more flexibly and can be withdrawn at any time, but withdrawals before your retirement age are fully taxed and incur a 5% penalty.

You can open an SRS account online with any of the three SRS operators: DBS, OCBC or UOB. You must be at least 18, not an undischarged bankrupt, and a Singapore citizen, PR, or foreigner. Each person can hold one SRS account. Once you have your SRS account number, you can link it to your Endowus account to start investing.

1) Simply log in to your Endowus account,
2) Go to "Invest | Redeem"

3a) "Add new goal" and select "Invest my SRS", or
3b) select an existing goal, and "add my SRS to this goal".

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If you do not see SRS as an investment option, you need to link your SRS account here.

For general investing, Endowus Flagship Portfolios are composed of global equities and fixed income funds managed by best-in-class fund managers such as PIMCO, Dimensional, and Amundi. For Cash Smart portfolios, please refer to the Cash Smart page here.

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Endowus gives you access to institutional share classes of funds, which carry lower fees than retail share classes. We never charge a sales fee, and we rebate 100% of trailer fees, so you keep more of your returns.

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To see more information on the exact portfolios at each level of risk, underlying holdings, historical returns, fees, and more, create your Endowus account for free.