Diversifying the way you save for retirement is usually encouraged, and that’s where the Supplementary Retirement Scheme (SRS) comes in to help you scurry away some money with pretty good additional perks.

If you live in Singapore, you’ve probably heard a gazillion times that it’s never too early to start planning and saving for retirement. It’s not surprising since a survey by HSBC found that seven out of 10 people working in Singapore above the age of 45 would like to retire within the next five years.

Early retirement requires major pre-planning and if you are part of the statistics above, you should start as soon as possible. Unfortunately, the DBS-Manulife Retirement Wellness Study done in November 2015 found that people living in Singapore only start planning for their retirement at an average age of 38.

A separate study by Nielsen found 40% of those who have not planned for …