Maxing Your SRS Before 31 Dec: A Walk-Through of Tax Savings

By the end of 2024, Singaporeans held $20.58 billion SGD in their Supplementary Retirement Scheme (SRS) accounts — a 43% jump in total contributions over three years. The number of accounts also surged to 466,849, up 62% from 2021. 

That growth isn’t accidental. As rising wages push more middle- and upper-income earners into higher tax brackets, SRS has quietly become one of the most powerful legal levers to reduce tax exposure while building long-term retirement capital.

But here’s the catch: the SRS isn’t just a tax tool. It’s a policy-backed wealth-building mechanism designed to complement CPF. Every dollar you contribute before 31 December 2025 lowers your taxable income dollar-for-dollar (up to the annual cap), and unlike CPF, your SRS funds are fully flexible in how they’re invested — from Singapore Savings Bonds to global ETFs.

This matters because leaving that space unused is effectively paying more tax than you need to. For someone in the 15% tax bracket, maxing out the $15,300 SGD cap translates to roughly $2,295 SGD in tax savings. For higher earners in the 24% bracket, that grows to about $3,672 SGD. Multiply that over years, and the compounding effect on both tax savings and investment growth can be profound.

SRS is no longer just an afterthought at year-end. It’s a central pillar of how financially savvy Singaporeans are planning for retirement — and the deadline to make it count is fast approaching.

What is SRS?

The Supplementary Retirement Scheme (SRS) is a voluntary, government-endorsed retirement savings scheme introduced in 2001 to complement the Central Provident Fund (CPF) system.

Where CPF focuses on mandatory contributions and basic retirement adequacy, SRS gives you a voluntary lever to save more on your own terms — and get rewarded for it through immediate tax relief.

Each year, you can contribute up to $15,300 SGD if you’re a Singapore Citizen or PR, or up to $35,700 SGD if you’re a foreigner. Every dollar contributed reduces your taxable income dollar-for-dollar, subject to the overall personal relief cap of $80,000 SGD. This structure makes SRS one of the few legal tools available to materially lower your income tax while simultaneously setting aside funds for the future.

Unlike CPF, SRS gives you investment flexibility. Your funds don’t have to sit idle in a savings account — they can be invested in a wide range of instruments, including bonds, unit trusts, insurance products, fixed deposits, or even globally diversified ETFs. The goal is simple: let your retirement savings compound instead of losing purchasing power over time.

Withdrawals are where the real tax advantage kicks in. Starting from the statutory retirement age applicable at your first contribution (currently 63 years old), you can withdraw up to $40,000 SGD per year tax-free over 10 years, assuming a total balance of $400,000 SGD. This fixed withdrawal age is “locked in” at the time of your first contribution — so even if the national retirement age rises later, your SRS withdrawal age stays the same.

Withdrawing early is possible, but comes with trade-offs: the full amount becomes taxable, and you’ll face a 5% penalty on the withdrawn sum. This structure is deliberate — it rewards long-term planning while discouraging short-term dipping.

SRS adoption is soaring — but too much money is sitting idle

Over the past three years, SRS has rapidly shifted from a niche tax tool to a mainstream part of retirement planning. By December 2024, total contributions reached $20.58 billion SGD, up 43% from 2021. The number of accounts surged from 288,793 to 466,849, a 62% jump. 

But beneath this growth lies a missed opportunity. About $3.9 billion SGD — or 19% of all SRS balances — remains uninvested, sitting in cash and earning just 0.05% per annum. That’s well below Singapore’s average inflation rate of 1.5% between 2014 and 2024. In practical terms, $100 SGD kept idle in an SRS account today could lose around 15% of its value over a decade, shrinking to about $85 SGD in real purchasing power.

This gap between contributing and investing tells a story. Many still view SRS as a year-end tax relief move — a way to trim next year’s tax bill and nothing more. But its real power lies beyond the top-up: in how those dollars are deployed. When invested thoughtfully, SRS becomes a long-term, tax-advantaged growth engine that compounds over time and supports a flexible, tax-efficient retirement.

SRS isn’t just a box to tick before 31 December. It’s a policy tool built to reward forward planners — people who want control, flexibility, and better after-tax outcomes in the years ahead.

Don let your money sit idle! Invest your SRS for higher returns

Using SRS via StashAway means you can contribute for tax relief and then channel the funds into one of these three tracks that aligns with your goals:

• Managed portfolios: For minimal fuss
• ETF Explorer: For direct ETF selection and customization
• Simple™ Cash: Just park the funds temporarily and want better than cash 

SRS vs CPF: key differences

It’s important to distinguish between SRS and the Central Provident Fund (CPF). Both serve retirement goals, but they’re built on fundamentally different principles. 

• CPF is a mandatory system designed to ensure baseline retirement adequacy. 
• SRS, on the other hand, is voluntary — giving you flexibility over how much you contribute, when you do it, and how you invest the funds.

The key difference lies in control and flexibility. CPF is structured, predictable, and built for stability. SRS gives you the choice to decide how much, when, and where to invest, making it a strategic complement to your CPF — not a replacement.

Who can open an SRS account

Eligibility criteria

Eligibility for an SRS account is broad, covering most of the working population in Singapore. You can open an account if you are:

• A Singapore citizen, permanent resident (PR), or a foreigner
• At least 18 years of age
• Not an undischarged bankrupt
• Mentally sound and capable of managing your own affairs

You can only hold one SRS account at any given time. These accounts are managed by three designated SRS operators:

• DBS Bank
• OCBC Bank
• United Overseas Bank

Opening an account is a straightforward digital process that can usually be completed in minutes via online banking portals or mobile apps.

SRS contribution rules for 2025

Annual contribution caps

Every dollar you voluntarily contribute to your SRS account directly reduces your chargeable income for the year, up to the following annual limits:

The higher cap for foreigners reflects the fact that they are not covered by the CPF system, allowing them to save for retirement in a similar way.

Flexible contribution options

Unlike CPF, SRS is entirely self-funded. There is no employer co-contribution. You can contribute in one lump sum or make smaller top-ups throughout the year, as long as you don’t exceed your annual limit.

Why investing matters

Uninvested cash in an SRS account earns just 0.05% per annum in interest. That’s well below Singapore’s average inflation rate, which means your money effectively loses value over time if left idle. Having an investment strategy for your SRS funds is key to making the most of the scheme.

In essence, the SRS gives you the driver’s seat over a portion of your retirement savings, with a clear tax incentive to take action — but it’s your investment strategy that determines how much that contribution actually grows.

How SRS delivers immediate tax savings

One of the most compelling reasons to top up SRS accounts is the guaranteed tax savings. The mechanism is straightforward: every dollar you contribute reduces your chargeable income by the same amount. This directly lowers the tax you’ll pay in the upcoming Year of Assessment (YA).

YA2025 resident income tax rates

For YA2025, there’s also a one-time 50% personal income tax rebate, capped at $200 SGD for all tax residents. But the real savings come from SRS, not the rebate.

How SRS saves a 35-year-old manager over $1,700 SGD

Let’s say Alex, a 35-year-old marketing manager, earns $120,000 SGD a year with no other reliefs.

Without SRS contribution:

• Assessable income: $120,000 SGD
• Chargeable income: $120,000 SGD
• Tax:
• First $80,000 SGD: $3,350 SGD
• Next $40,000 SGD@ 11.5%: $4,600 SGD
• Total tax payable: $7,950 SGD

With full SRS contribution:

• Assessable income: $120,000 SGD
• SRS contribution: $15,300 SGD
• New chargeable income: $104,700 SGD
• Tax:
• First $80,000 SGD: $3,350 SGD
• Next $24,700 SGD @ 11.5%: $2,840.50 SGD
• Total tax payable: $6,190.50 SGD

By contributing $15,300 SGD to his SRS account, Alex saves $1,759.50 SGD in taxes immediately. That’s equivalent to an 11.5% risk-free return — money that would have gone to the tax authorities but is now sitting in his retirement account, ready to be invested.

Bigger income, bigger savings

For someone earning $160,000 SGD (in the 15% bracket), a full SRS contribution yields $2,295 SGD in savings ($15,300 SGD × 15%). The higher your income bracket, the more impactful each SRS dollar becomes.

How to maximise your $80,000 SGD tax relief cap

Contributing to SRS doesn’t happen in isolation. It sits within a larger ecosystem of tax reliefs offered by the government, and the most important rule to understand is the overall personal income tax relief cap of $80,000 SGD per year of assessment.

This cap sets the maximum total amount of tax relief you can claim to reduce your assessable income. Your SRS contribution is just one of many reliefs that count toward this ceiling.

What counts towards the cap

Common reliefs that typically fall under the $80,000 SGD cap include:

• CPF relief: mandatory employee contributions and voluntary CPF top-ups
• NSman relief: for operationally ready NSmen
• Parent or handicapped parent relief
• Course fee relief: for professional development and education
• Life insurance relief (only if total CPF contributions are below $5,000 SGD)
• SRS contributions

The total from all these categories combined cannot exceed $80,000 SGD. Any amount beyond this limit provides no additional tax benefit.

Why relief space matters

Blindly contributing the full $15,300 SGD to your SRS without checking your relief position can be a costly mistake. If your total reliefs already hit or exceed the $80,000 SGD cap, any excess contribution won’t reduce your tax bill. That money will still be locked in your SRS account but won’t have done the job it was meant to do.

That’s why calculating your relief space is essential before topping up.

Example: Priya has room to optimise

Priya, 42, is a senior executive who wants to lower her taxable income. Her reliefs for the year are:

• CPF contribution: $17,760 SGD
• Voluntary CPF top-up to SA: $8,000 SGD
• Voluntary CPF top-up to mother’s RA: $8,000 SGD
• Parent relief: $9,000 SGD
• Course fee relief: $5,500 SGD
• NSwife relief: $750 SGD

Total reliefs: $49,010 SGD

Relief cap: $80,000 SGD

Available relief space: $30,990 SGD

Priya can safely make the full SRS contribution of $15,300 SGD and still stay well below the cap. Her total reliefs would amount to $64,310 SGD, maximising her tax savings effectively.

Example: David is close to the cap

David’s existing reliefs already total $75,000 SGD, meaning he has only $5,000 SGD of relief space left before hitting the cap.

If David contributes the full $15,300 SGD to SRS, only $5,000 SGD will give him tax relief. The remaining $10,300 SGD would be locked into his SRS account without any tax benefit. In his case, a partial contribution of $5,000 SGD is the smarter move.

The smart move: check before you top up

Before making your SRS contribution, log in to the Inland Revenue Authority of Singapore myTax Portal. Review last year’s reliefs, adjust for any changes this year, and calculate your remaining relief space.

This quick check can prevent you from needlessly tying up thousands of dollars and ensure your SRS contribution actually works to lower your tax bill.

SRS is powerful — but only when used strategically.

Don't just park, invest: beating the 0.05% idle cash trap

Contributing to your SRS account and securing tax relief is a fantastic first step — but stopping there is where many people make a costly mistake. A successful SRS strategy involves two parts:

1. contribute to get the tax relief, and
2. invest to grow the funds.

Failing to take the second step means your money falls into the idle cash trap. Cash left uninvested in an SRS account earns only 0.05% per annum — essentially zero in real terms. This is not a savings account; it’s a temporary holding area. Leaving your funds here long term guarantees that your money loses value year after year.

The power of compounding: an illustration

Consider two individuals, Chloe and Ben. Both are 35 and contribute $15,300 SGD to their SRS accounts this year.

This isn’t a typo — the difference is over $100,000 SGD from a single year’s contribution. Chloe’s funds not only beat inflation but harnessed the power of compounding to build real wealth. Ben’s money, meanwhile, barely moved — and after inflation, it’s worth less than what he started with.

Investing with SRS

Contributing to your SRS is only the first step. To truly unlock its potential, you need to invest those funds. The power of SRS lies not just in its tax benefits, but in the flexibility it offers to grow your savings across a wide spectrum of investment options — from safe, government-backed securities to globally diversified portfolios.

By putting your SRS dollars to work, you can achieve returns that outpace inflation and turn what started as a tax-relief exercise into a meaningful part of your long-term wealth plan.

Investing in Singapore Savings Bonds (SSBs)

If you’re looking for capital-protected returns, the Singapore Savings Bonds (SSBs) are one of the most straightforward ways to invest your SRS balance. Fully backed by the Singapore Government, SSBs are designed for savers who want predictable returns and total peace of mind.

They offer step-up interest rates, which means the longer you hold them, the higher your annualised return becomes. For instance, a $10,000 SGD investment in the January 2025 SSB tranche would yield $2,870.25 SGD by 2035 — an effective return of 2.86% per annum. Even if you redeem after just three years, your average return still exceeds 2.7% — miles ahead of the 0.05% earned on idle SRS cash.

You can redeem your bonds any month without penalty, and all interest is automatically credited back into your SRS account. A small $2 SGD transaction fee applies per application or redemption, but otherwise, there are no hidden charges.

Investing in Fixed Deposits

For ultra-conservative investors, fixed deposits (FDs) are the simplest way to earn higher returns than leaving cash idle. Many SRS operators — including DBS, OCBC, and UOB — offer dedicated SRS-linked FDs.

While returns are modest, often below 2% p.a. (depending on tenure and prevailing market conditions), they are virtually risk-free and guaranteed. This option is suitable if you plan to use your SRS funds in the short term or prefer stability over growth.

Interest from FDs will be credited directly back into your SRS account at maturity. However, note that FDs typically cannot be redeemed early without penalties, and over long horizons, inflation may still erode real returns.

Investing in Exchange-Traded Funds (ETFs)

For investors seeking growth and diversification, ETFs are one of the most efficient ways to deploy SRS funds. ETFs give you low-cost access to entire markets — from Singapore’s Straits Times Index (STI) to global benchmarks like the S&P 500.

Unlike CPF funds, where investment choices are limited, SRS allows a broader range of ETF exposure. You can invest in SGX-listed ETFs that track major markets such as the US, China, or Asia-Pacific. This flexibility makes SRS ideal for investors looking to balance global growth and long-term retirement goals.

Investing in Unit Trusts

If you prefer professional management over DIY investing, unit trusts offer an accessible entry point. These funds pool investors’ money into diversified portfolios managed by experienced fund managers.

Depending on your goals, you can choose from balanced funds that blend bonds and equities, or equity-focused funds targeting specific regions or sectors. The advantage is that you get instant diversification and expertise, even if you’re starting with a modest investment amount.

Investing in Insurance Products

For those who prioritise stability and guaranteed income, single-premium insurance plans such as endowments or annuities can also be purchased with SRS funds.

Annuities are particularly useful because they are exempt from the standard 10-year SRS withdrawal limit. You can receive payments for life, with only 50% of each annuity payout taxable annually. This structure offers lifetime income potential while maintaining tax efficiency.

However, returns on these products are typically lower and come with longer lock-in periods. Coverage under SRS-linked endowment plans is also capped at three times the premium.

Dividend and Interest Returns

All income generated from your SRS investments — whether interest from SSBs, dividends from ETFs, or distributions from unit trusts — will be credited back into your SRS account. 

These proceeds retain their tax-deferred status until you begin withdrawals at retirement age, allowing your returns to compound uninterrupted.

How SRS Complements CPF

While SRS and CPF serve different purposes, they work best in tandem. CPF provides guaranteed, risk-free growth for your essential retirement needs, while SRS gives you flexibility and tax savings to build discretionary wealth. 

Think of CPF as your foundation and SRS as the accelerator that lets your savings grow beyond the basics.

Investing your SRS with StashAway

If you prefer a modern, streamlined way to invest your SRS funds, StashAway offers more than just one route — it gives you three distinct options, each suited to different styles of investor.

1. Managed portfolios (General Investing by StashAway or BlackRock®)

• These are fully managed, globally diversified portfolios built with ETFs, aligned with your risk profile and optimised using StashAway’s Economic Regime-based Asset Allocation (ERAA™) framework.
• Ideal if you want a “set-and-forget” portfolio while still using SRS funds.

2. Build your own (ETF Explorer)

• This option allows you to pick from 80+ global asset classes / ETFs and build your own portfolio with your SRS funds. 
• Just $1 USD per buy or sell order under this option — no ongoing monthly management fees.
  
• Particularly strong for SRS investors who want direct exposure to U.S.-listed ETFs or thematic/global ETFs and want control of their portfolio within their SRS wrapper.

3. Cash management (Simple & Simple Plus)

• For short-term or ultra-conservative SRS funds (e.g., waiting for the end-year contribution deadline or parked while deciding investment), StashAway’s Simple and Simple Plus cash management solutions deliver higher returns than typical bank savings or fixed deposits of up to 2.6% p.a..

Putting it all together

Using SRS via StashAway means you can contribute for tax relief and then channel the funds into one of these three tracks that aligns with your goals:

• Want autopilot, minimal fuss → Managed portfolios.
• Want direct ETF selection and customization → Build your own via ETF Explorer.
• Just parked the funds temporarily and want better than cash → Cash management with Simple / Simple Plus.

All options remain within the SRS environment, so your tax-relief and tax-deferral benefits apply, while giving you greater flexibility and choice.

Locking it in: the early bird strategy for your retirement age

Among all SRS tactics, this is arguably the most time-sensitive — and one of the most powerful. A small, simple action today can permanently lock in an earlier retirement age and give you a full extra year of financial flexibility.

The golden rule of SRS withdrawal age

Your penalty-free SRS withdrawal age is not a moving target. It’s fixed for life based on the statutory retirement age (SRA) in effect when you made your first-ever SRS contribution.

That means the day you open your SRS account and contribute even one dollar sets your personal withdrawal age permanently — regardless of how Singapore’s retirement age changes in the future.

Why the timing matters

Singapore’s government has been progressively increasing the retirement and re-employment ages to help older workers stay economically active. The SRA is moving upward in stages:

If you open your SRS account before 1 July 2026, your penalty-free withdrawal age locks in at 63. Wait until after, and it jumps to 64 — a full year later.

The $1 SGD lock-in strategy

Here’s the smart move: open an SRS account and contribute a symbolic $1 SGD before 1 July 2026. That single dollar permanently locks your SRA at 63 for all future contributions — even if you don’t top up again for years.

Example 1: Sarah, the early bird

• Opens her SRS account on 15 December 2025.
• Contributes $1 SGD.
• Her penalty-free withdrawal age is fixed at 63 for life.

Example 2: Ben, the latecomer

• Opens his account on 2 July 2026, after the SRA increases.
• His penalty-free withdrawal age is fixed at 64.

That one-year gap may not sound dramatic now, but for early retirees, it can mean twelve extra months of liquidity and lifestyle flexibility — a year of travel, lower stress, or a smoother bridge before CPF LIFE payouts begin.

This strategy is especially relevant for younger professionals in their 20s and 30s who aren’t yet contributing large amounts to SRS. By locking in early with just one dollar, they secure the current withdrawal age decades in advance — effectively a free, no-risk lifetime benefit.

The decade of decumulation: mastering the 10-year withdrawal strategy

After years of contributing and investing, the final phase of your SRS journey begins: turning those savings into income — efficiently, and ideally, tax-free.

This is the decumulation stage, and it’s governed by two simple yet powerful rules for penalty-free withdrawals once you reach your locked-in statutory retirement age.

The two pillars of smart withdrawal

1. The 50 % tax concession Only half of each year’s SRS withdrawal is subject to income tax. Example: withdraw $40,000 SGD → only $20,000 SGD counts as taxable income.
2. The 10-year withdrawal window Once you make your first withdrawal after reaching your SRA, you have up to 10 years to withdraw your remaining balance penalty-free. The clock starts from the year of that first withdrawal.

Together, these two rules make the SRS one of the most tax-efficient retirement vehicles available to Singapore residents.

The zero-tax retirement income strategy

Singapore’s first $20,000 SGD of chargeable income is tax-exempt each year. Combine this with the 50 % tax concession, and you can engineer a completely tax-free stream of SRS income:

If you withdraw $40,000 SGD in a year → only $20,000 SGD is taxable → falls under the 0 % bracket → pay $0 SGD in tax.

Over 10 years, that’s $400,000 SGD withdrawn tax-free, assuming no other taxable income.

By simply pacing your withdrawals, you can save over $21,000 SGD in taxes — the equivalent of an extra half-year of retirement spending.

Withdrawing investments in-specie

You don’t have to sell your investments to withdraw from your SRS. If your funds are in stocks, ETFs, or unit trusts, you can transfer them directly (“in-specie”) to your personal brokerage or CDP account.

The market value of the investments at the time of transfer counts as the withdrawal amount for tax purposes, but the assets remain invested. This is an elegant way to preserve long-term holdings — especially dividend-paying ETFs — while enjoying the same 50 % tax concession.

Step-by-step guide: how to open and top up your SRS by 31 December

You’re convinced. You know the benefits, the strategies, and the pitfalls. Now it’s time to act. Opening and funding your SRS account is straightforward — but to qualify for this year’s tax relief, you must do it before the 31 December deadline.

Here’s your clear, actionable walkthrough.

Step 1: open your SRS account

If you don’t have an SRS account yet, this is your first step.

Choose your operator:You can only hold one SRS account. Singapore’s three approved operators are DBS, OCBC, and UOB.

If you already bank with one of them, it’s easiest to open your SRS account through your existing digital banking app.

How to apply:

1. Log in to your bank’s mobile app or internet banking (e.g. DBS digibank, OCBC Digital, or UOB TMRW).
2. Navigate to Invest or Apply.
3. Select SRS Account Opening.
4. Review and confirm your pre-filled details via MyInfo/Singpass.
5. Submit your application.

Time required:The process takes less than 15 minutes, and your account is usually ready immediately or within one business day.

Pro tip:Even if you’re not planning a big contribution this year, make a $1 SGD deposit before 1 July 2026 to secure the age-63 penalty-free withdrawal lock-in

Step 2: fund your SRS account

Once your account is open, you’ll need to make a contribution to activate your tax relief.

How to calculate your amount:Your total reliefs (including SRS) cannot exceed $80,000 SGD in any assessment year.

How to contribute:

1. Log in to your online banking.
2. Go to Pay & Transfer → SRS Contribution.
3. Select your SRS account as the recipient.
4. Enter the amount and funding source.
5. Confirm the transfer.

You’ll receive an SMS or email confirmation immediately, and your new balance will reflect in your SRS account.

Step 3: beat the deadline — know your bank’s cut-off time

This is where most people slip up. To qualify for YA2025 tax relief, your funds must be credited into your SRS account by 31 December 2025, 11:59 PM.

However, each bank enforces its own internal cut-off time for year-end digital transactions, and late contributions will automatically roll over to the next tax year.

Unofficial year-end cut-off times (based on previous years):

Recommendation:Don’t wait until the last day. Aim to complete your transfer by 30 December.

If you must contribute on 31 December, do it before lunchtime to avoid traffic delays and processing errors.

Remember — missing the cut-off means you’ll lose your tax benefit for the year. It’s a small administrative detail that can cost you hundreds or even thousands in foregone savings.

Frequently asked questions (FAQs)

Here are quick, practical answers to common SRS questions.

1. What’s the hard deadline for YA2025 tax relief?
   
   Your contribution must reach your SRS account by 11:59 pm on 31 December 2025. Each bank has earlier internal cut-offs on 31 December, so submit well before evening to be safe.
2. How do I check my remaining room under the $80,000 SGD relief cap?
   
   Log in to IRAS myTax Portal → view my tax matters → review last year’s notice of assessment and reliefs. Add this year’s expected reliefs, then subtract from $80,000 SGD to estimate the maximum SRS amount that still gives you tax benefit.
3. Can I withdraw before my retirement age?
   
   Yes, but it’s costly. Early withdrawals incur a 5% penalty, and 100% of the amount withdrawn is taxed as income in that year. Treat this as last-resort only.
4. Is SRS “better” than a CPF top-up?
   
   They serve different goals.
   a. CPF top-up (SA/RA): ~4% base rate, ultra-safe, but funds are locked until statutory ages.
   
   b. SRS: broader investment menu (ETFs, unit trusts, REITs, insurance, FDs), tax-deferred growth, and flexible 10-year retirement withdrawals (with 50% tax concession). Many people do both: maximise CPF top-up relief first, then use SRS for extra relief and diversification. 
5. What happens if I exceed the $80,000 SGD overall relief cap?
   
   Any relief above $80,000 SGD gives zero extra tax benefit. If an SRS top-up pushes you past the cap, that excess still gets locked in SRS but won’t reduce your tax bill.
6. How are SRS withdrawals taxed at retirement?
   
   Once you reach your locked-in statutory retirement age, you can withdraw over up to 10 years. Only 50% of each year’s withdrawal is taxable. Plan withdrawals (e.g., $40,000 SGD a year) so that the taxable half ($20,000 SGD) falls within the 0% tax band, potentially paying no tax.
7. Can I transfer investments out instead of selling (in-specie)?
   
   Yes. You may withdraw in-specie (e.g., transfer shares or ETFs to your personal account). The market value at transfer counts as that year’s SRS withdrawal for tax purposes.
8. What if I leave Singapore for good?
   
   Rules differ by status and timing. In general, non-residents and those giving up residency can apply for withdrawal; tax is withheld at source, then final tax is assessed and you may claim a refund if over-withheld. Check IRAS rules relevant to your status and how long the SRS has been maintained.
9. Can I use SRS to buy U.S. stocks or global ETFs?
   
   Access depends on the platform.
   a. Most SRS-linked brokerages focus on SGX-listed securities, including ETFs that track U.S./global indices.
   
   b. For broader global exposure (including U.S. markets), many investors use robo or managed ETF portfolios that accept SRS (e.g., StashAway’s General Investing and ETF Explorer). Always confirm eligibility, fees, and dividend withholding-tax implications before transacting.
10. Do dividends, coupons, and proceeds stay inside SRS?
    
    Yes. All dividends, fund distributions, bond coupons, and sale proceeds from SRS investments are credited back into your SRS account and remain tax-deferred until withdrawal.
11. Can I make multiple contributions through the year?
    
    Yes. Contribute lump-sum or periodically, as long as you don’t exceed the annual cap ($15,300 SGD for citizens/PRs; $35,700 SGD for foreigners) and the $80,000 SGD overall relief cap.
12. What happens to my SRS on death or disability?
    
    On death, the SRS balance is treated as withdrawn; 50% is taxable in the year of assessment following death, and no 5% penalty applies. For approved medical grounds (e.g., terminal illness), concessions apply and no 5% penalty; refer to IRAS/your SRS operator for documentation requirements.
13. How do annuities interact with SRS’s 10-year window?
    
    Life annuities bought with SRS are not bound by the 10-year limit. 50% of each payout is taxable for as long as payments are received.
14. Can I “lock in” my withdrawal age now?
    
    Yes. Your penalty-free SRS withdrawal age is locked to the statutory retirement age at your first contribution. A $1 SGD contribution today fixes your age at the current SRA (see Section 7).