Reduce your income tax. Retire with more.
SRS is a voluntary savings scheme that complements your CPF — with tax relief on contributions, tax-free investment returns, and tax concessions when you withdraw. See what it saves you, free.
Updated for YA2026 · follows the IRAS resident tax rates
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What is Supplementary Retirement Scheme (SRS)?
The Supplementary Retirement Scheme (SRS) is a voluntary savings program that enables individuals to save for retirement in addition to their Central Provident Fund (CPF) savings contributions.
In order to meet the financial needs of a graying population, the Singaporean government has adopted a multifaceted policy that includes encouraging Singaporeans to save more money for their golden years. It has been going on since 2001, and the private sector runs it.
Savings from the CPF are intended to cover basic living expenses after retirement as well as housing and medical costs. Unlike the CPF program, SRS participation is optional. Subject to a cap, SRS members may make varying contributions to SRS at their discretion. Different investment instruments may be purchased with the contributions.
Who can open an SRS account?
Almost anyone earning an income in Singapore — Citizens, Permanent Residents and foreigners alike. You just need to be:
At least 18 years old
and not an undischarged bankrupt.
Of sound mind
and capable of managing yourself and your affairs.
Earning income in Singapore
as a Singapore Citizen, PR or foreigner.
Good to know before you start
Benefits of contributing to SRS tax saving account in Singapore
There are many benefits to using an SRS tax saving account in Singapore. By investing the money in a SRS account, you can secure your future and reduce your tax burden.
Here are just a few of the key benefits:
SRS relief subject to the $80,000 cap
Starting from the Year of Assessment 2018, the personal income tax relief cap of $80,000 is applicable to SRS contributions made on or after 1 Jan 2017. It is essential for SRS members to be aware that once SRS contributions are made, they cannot be refunded. Therefore, it is advisable for SRS members to consider the overall personal income tax relief cap and assess whether they would benefit from the tax relief on their SRS contributions. Based on this evaluation, they can make an informed decision about their contributions.
You can claim tax relief for contributions made to SRS.
For every dollar you contribute to your SRS account, an equivalent reduction will occur in your taxable income.
Investment returns accumulate tax-free inside SRS.
Interest, dividends and gains earned on your SRS investments are not taxed while the money stays in the account. Tax only enters the picture when you withdraw — and from the statutory retirement age, only half of each withdrawal is taxable.
Tax will be payable only when you withdraw your savings from SRS
Upon retiring, when you withdraw your savings, only half of the amount withdrawn will be taxable. To meet your financial requirements, you have the option to spread out your withdrawals over a maximum period of 10 years. By choosing to spread out your withdrawals, you can generally achieve higher tax savings.
Note: 50% tax concession only applies to withdrawals from the statutory retirement age.
The more you contribute, the more relief you earn — ideally enough to bring you into a lower tax bracket. See your own numbers in the calculator above.
Best SRS funds investment in Singapore
Maximize growth of your SRS by investing it. By doing so, you earn potentially higher interest, as your balance in the SRS account earns only 0.05% interest per annum. What's more, you get to accumulate tax-free returns on your investments.
There are a number of different types of SRS funds that investors can choose from when it comes to investing in Singapore. However, before making any investments, it is important to do your research and decide which type of SRS fund will work best for you.
There are a number of ways of investing SRS in Singapore. Here are some of them:
Singapore Savings Bonds
Singapore Government Securities (SGS)
Fixed Deposit
Foreign Currency Fixed Deposit
Shares
Single Premium Insurance
Unit Trusts
Curious what investing your SRS could grow to by 62? Run your projection in the calculator — it takes your age and shows cash versus invested, side by side.
Free · takes 2 minutes
How much income tax will you pay this year?
- ✓Follows the official IRAS YA2026 resident tax rates
- ✓Shows exactly how much tax relief SRS earns you
- ✓Full breakdown emailed to you as a personal report
Example: S$ 300,000 income with S$ 43,000 personal reliefs.
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