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).

Make the most of your SRS

Lower your taxes

Reduce your taxable income by $15,300 SGD a year (or $35,700 SGD for foreigners) when you set aside money in your SRS account for your retirement.

Lower your taxes

Grow your retirement savings

Don’t let your money earn 0.05% in your SRS account. Invest in curated portfolios designed to maximise your returns with no lock-up.

Grow your retirement savings

Invest at lower or no fees

Our management fees are only 0.2% to 0.8% annually.

  • No account setup or exit fees
  • Unlimited, free withdrawals
  • Unlimited, free transfers between portfolios
  • Rebalancing, transaction, and re-optimisation costs included

Learn more about our fee structure here.

Invest at lower or no fees

It pays to have an SRS account

Here’s how it works
Personal reliefs
$30,000 SGD
SRS contribution
$15,300 SGD
Taxable income
$54,700 SGD
Payable tax with SRS
$1,579 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

SGD
SGD
SGD

Max. contribution is $15,300 SGD

Total tax savings
$1,760 SGD
You could save 28.3% on your tax bill
Without SRS
Taxable income
$105,000 SGD
Payable tax
$6,225 SGD
With SRS
Taxable income
$89,700 SGD
Payable tax
$4,466 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 MAS
We 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 MOF
To manage your SRS funds, we remain fully compliant with the Ministry of Finance.

Withdrawing your SRS

Singaporeans 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

$40,000
$20,000
Nil, because the first $20,000 is tax exempt
$80,000
$40,000
$550
$160,000
$80,000
$3,350

 
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.

Retire better with StashAway

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By creating an account, you agree to the Platform Agreement

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Retire better with StashAway

Frequently Asked Questions

Any Singaporean Citizen, Permanent Resident, or foreign employee who is a tax resident of Singapore can contribute to an SRS account.

If you haven’t done so already, first open an SRS contribution account with DBS, OCBC, or UOB.

Then, to start investing your SRS funds with StashAway, create a new portfolio and indicate that you want to use SRS funds, and you'll be guided through the quick setup process.

On your behalf, we can automatically request the SRS funds from your SRS contribution account bank at the date and/or frequency you specify. That way, you don't have to worry about remembering to transfer! Your deposit plan into StashAway from your SRS account can be changed at any time right from our app.

StashAway has only a simple annual fee between 0.2% and 0.8%, depending on your overall StashAway account balance. There are no subscription fees, no redemption fees, no custodian fees, and no penalty fees.

There's no management fee with StashAway Simple™ portfolio.

You can view the pricing structure here.

SRS’s main advantage is the tax benefits it offers. Whatever amount you contribute to your SRS account is fully deducted from your tax bill that year (Singaporeans and PRs can contribute to their SRS bank accounts up to $15,300 SGD per year, and foreigners can contribute up $35,700 SGD per year). These contributions lead to significant tax savings: Singaporeans who max out their SRS contributions can decrease their taxes by up to $3,366 SGD each year, depending on their tax bracket. Foreigners, given their larger contribution cap, can save nearly $8,000 SGD per annum, totaling nearly $80,000 SGD over the course of 10 years, assuming a full SRS contribution during those 10 years.

Withdrawals at retirement (or when conditions are met) are given a 50% tax concession and can be spread over 10 years to minimise taxes.

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