When can you withdraw your SRS?

Withdrawal can be done after the statutory age:

Upon reaching the statutory retirement age (63 years old), Singaporeans and PRs can withdraw from their SRS accounts over a period of up to 10 years, starting on the date of the first withdrawal. Foreigners can withdraw without penalties 10 years after they open an SRS account.

50% of every withdrawal will be subject to tax. Proper withdrawal timing is key to maximising the tax advantages from SRS contributions. To maximise the tax advantages, you should withdraw when your marginal tax rate is lowest.

Early SRS withdrawal penalties:

It’s important you only contribute to SRS if you’re certain you won’t need the funds until retirement, because if you don’t meet the early withdrawal conditions, you will face a 5% penalty, and in addition, 100% of the early withdrawal would be subject to tax.