it’s got to be our Central Provident Fund (CPF).

To further complicate things, there’s also this thing called Supplementary Retirement Scheme or SRS.

But as with all things government-related, it’s damn cheem until someone bothers to explain in simple terms.

And here at Seedly, that’s what we do best.

What’s the SRS for? And should you even bother opening an SRS account?

Let’s find out.

If you’re earning more than $40,000 a year, you should seriously consider using the SRS to enjoy tax relief and pay lesser income tax.

Here’re the current SRS account promos for DBS/POSB, OCBC and UOB: