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...