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Supplementary Retirement Scheme ($ 4Category: PDF




Singaporeans and permanent residents are required to contribute a part of their monthly earnings to the Central Provident Fund (CPF). The employer is also required to make a contribution.

They can make additional contributions to the Supplementary Retirement Scheme (SRS) and enjoy certain tax benefits.

Foreigners working in Singapore are exempted from contributing to the CPF. They can contribute to the SRS.

Contributions to the SRS are deductible from taxable income, reducing the tax payable by the contributor.

The savings in the SRS can be invested in several approved investments. They can accumulate free of tax until the time of withdrawal.

The contributor is allowed to make withdrawal from age 62 over a period of 10 years. Half of the amount withdrawn in each year is required to be declared as taxable income. 

This book explains the impact of SRS on locals, foreigners and people at different ages and tax brackets.