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Why you should top up $1 into your SRS account (even if you don’t plan on using it)
By Financial Horse  •  December 29, 2022
For those of you who are keen to top up your Supplementary Retirement Scheme (SRS) – don’t forget to top up by 31 December 2022 if you want to enjoy the tax relief. I wrote a full guide to SRS recently, do check it out if you are keen. But in this article I wanted to discuss something else. For those who don’t plan on using your Supplementary Retirement Scheme – you should still open one and top up $1 into your SRS account.

Why you should top up $1 into your SRS Account

The simple reason why – is that the Statutory Retirement Age for purposes of your SRS account is locked in on the day you make your first SRS contribution Before 1 July 2022, it was 62. After 1 July 2022, it went up to 63, and who...
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By Financial Horse
Financial Horse was founded with a simple goal – To provide high quality financial commentary, in plain English. He is a firm believer in Einstein’s quote that “If you can’t explain it to six-year-old, you don’t understand it yourself.” Too much of finance is shrouded in complex jargon, and Financial Horse aims to demystify financial investments.
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