The Returns of the Supplementary Retirement Scheme
By The Simplified Resource For Investing and Personal Finance  •  December 6, 2021
The Businesstimes published an article in November 2021 titled " More Young Investors Turning to SRS Retirement Needs". It wrote. " The share of younger people with Supplementary Retirement Scheme (SRS) accounts has risen steadily over the years, according to data from the Ministry of Finance. As at end-2015, 11 per cent of SRS account holders were between the age of 18 and 35This share had risen to 19 per cent at the end of 2020. " 18 year olds putting money into SRS already? Assuming an 18 year old invested $1000 every year into his SRS account. Let's assume the 18 year old has a marginal tax rate of 7% every year and so pays less tax of $70 every year till age 62. A marginal tax rate of 7% means the chargeable income of the 18yo is between $40,000 to $80,000 already which is pretty high in my opinion at that age!...
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By The Simplified Resource For Investing and Personal Finance

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