The scheme is operated by the private sector and was effective since 1st April 2001. The SRS also offers attractive tax benefits. Contributions to SRS are eligible for tax relief where only 50% of the withdrawals from SRS are taxable at retirement. Investment returns are also accumulated tax-free(with the exception of Singapore dividends from which tax is deducted or deductible by the payer company under section 44 of the Income Tax Act). Read more...By: Adrian Khiat
Introducing SRS (Supplementary Retirement Scheme)
The SRS is a voluntary scheme to complement the CPF to provide for housing, medical and basic living needs after retirement. Participants can contribute up to $11,475/yr into their SRS at their own discretion. The contributions may be used to purchase various investment instruments.
The scheme is operated by the private sector and was effective since 1st April 2001. The SRS also offers attractive tax benefits. Contributions to SRS are eligible for tax relief where only 50% of the withdrawals from SRS are taxable at retirement. Investment returns are also accumulated tax-free(with the exception of Singapore dividends from which tax is deducted or deductible by the payer company under section 44 of the Income Tax Act). Read more...
The scheme is operated by the private sector and was effective since 1st April 2001. The SRS also offers attractive tax benefits. Contributions to SRS are eligible for tax relief where only 50% of the withdrawals from SRS are taxable at retirement. Investment returns are also accumulated tax-free(with the exception of Singapore dividends from which tax is deducted or deductible by the payer company under section 44 of the Income Tax Act). Read more...
