Make the most of your SRS

Save on taxes and maximise your retirement savings when you invest your Supplementary Retirement Scheme (SRS) funds with StashAway.
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We’re licensed by the Monetary Authority of Singapore

(License no. CMS100604).

It pays to have an SRS account

For every dollar you contribute into your SRS account, you’ll reduce your taxable income by the same amount*.

Here’s how it works

Personal reliefs

$30,000 SGD

SRS contribution

$15,300 SGD

Taxable income

$54,700 SGD

Payable tax with SRS

$1,071 SGD

Personal reliefs

$30,000 SGD

Taxable income

$70,000 SGD

Payable tax without SRS

$2,650 SGD

Illustration is based on an annual income of $100,000 SGD and personal reliefs of $30,000 SGD.

*Capped at the maximum yearly contribution of $15,300 SGD for Singaporeans and PRs, and $35,700 SGD for foreigners.

See how much you can save on taxes

Total tax savings
$1,610 SGD

You could save 25.9% on your tax bill

Without SRS
Taxable income

$105,000 SGD

Payable tax

$6,225 SGD

With SRS
Taxable income

$91,000 SGD

Payable tax

$4,615 SGD

Grow your SRS with StashAway

Your SRS account only earns you 0.05% p.a. on the amount you save. Your money can do better when you invest it. Assuming you contribute the maximum each year, here’s why investing your funds benefits you in the long run.
SRS funds invested
SRS funds saved in account

Keep your retirement funds secure

We’re licensed by MASWe report quarterly to the MAS for all of our operations to demonstrate that we always meet the high capital requirements, and that we manage your funds in your best interest.
We’re compliant with MOFTo manage your SRS funds, we remain fully compliant with the Ministry of Finance.

Withdrawing your SRS

Singaporans and PRs can withdraw from their SRS accounts from the statutory retirement age of 63 over a period of up to 10 years, starting from the first withdrawal. Foreigners can withdraw without penalties after 10 years of opening an SRS account. 50% of every withdrawal will be subject to tax. Given no other income sources in any given year, here’s how much you would pay in tax:

Withdrawal amount in any given year

Amount on which you pay tax (50%)

Tax payable

Nil, because the first $20,000 is tax exempt

All amounts are in SGD. The payable tax is based on the prevailing tax rates as of December 2022.

Tip: For Singaporeans and PRs at retirement age, withdrawing in smaller increments over 10 years can reduce the amount of tax they pay per year, given that the first $40,000 is tax exempt.

Frequently Asked Questions

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StashAway is a brand of Asia Wealth Platform Pte Ltd (201624878Z), which is licensed by the Monetary Authority of Singapore (CMS100604).

This page is subject to the terms available here.