Cap for citizens/PRs: S$15,300/yr. (Foreigners: S$35,700.)
Your penalty-free withdrawal age locks in at the statutory retirement age on your first contribution: 62 / 63 / 64. It rises to 65 around 2030 — contributing even S$1 locks the current age.
SRS cash only earns 0.05%. Invested via index funds historically ~5–8%.
Frequently asked questions
How much tax does an SRS contribution save?
Your marginal tax rate times your contribution. The cap is S$15,300 per year for citizens and PRs (S$35,700 for foreigners). At a 7% marginal rate that's up to about S$1,071 saved per year; at 15%, about S$2,295. Only 50% of each withdrawal is taxed after the retirement age.
When can I withdraw my SRS money?
At the statutory retirement age that applied when you made your first contribution: 62 for accounts opened before July 2022, 63 for those opened from July 2022 to June 2026, and 64 for accounts opened from 1 July 2026. Withdrawing early means a 5% penalty and the full amount gets taxed.
Is SRS worth it?
Only if your marginal tax rate is meaningful — roughly 7% or higher — and you can genuinely lock the money away. If your marginal rate is 0% to 3.5%, the decades of lock-in usually cost more than the relief is worth.
SRS or CPF SA top-up — which should I do first?
They do different jobs. SA top-up gives up to S$8,000 of relief at a government-guaranteed 4% floor, but is locked until 55+. SRS offers a bigger relief bucket (S$15,300) and flexible investment options, with a hard lock-in. Higher earners often do both, in that order.