Should We Invest Using SRS or Cash?

Who can invest with Supplementary Retirement Scheme (SRS)?

• Singaporean, Permanent Resident (PR) or Foreigner

• At least 18 years old and undischarged bankrupt

• If you are an employee, your employer can contribute to your SRS account

As part of the employee benefits, the contributions that the employer makes to SRS are fully tax-deductible for the employer as staff costs. However, they form part of your overall remuneration package and will be subject to taxation. Your employer will report these contributions in your Form IR8A for the relevant year.

Once the SRS operator furnishes the required information, you'll be eligible to claim tax relief for these contributions in the subsequent year of assessment.

How to open a SRS account?

• Simply open an SRS account with DBS, UOB, or OCBC.

• Kindly be informed that if you've closed a previous SRS account after withdrawing all funds due to the following reasons, you won't be allowed to open a new account:

1. Having attained the prescribed retirement age or

2. On medical grounds.

• Once your money is in your SRS account, you can use it to make certain investments like Singapore Savings Bonds, Fixed Deposit (FD), Investment-Linked Plans (ILPs), Unit Trusts, and even blue-chip Shares and Single Premium Insurance.

谁可以加入新加坡退休辅助计划 Supplementary Retirement Scheme（SRS）？

• 新加坡公民、永久居民（PR）或外籍人士

• 至少18岁且未破产

• 如果你是员工，你的雇主可以汇款进你的SRS账户

作为员工福利的一部分，雇主对员工SRS户口的贡献完全可作为员工成本扣除税收。但是，其款项也将构成员工总薪酬套餐的一部分，并将受到税收影响，所以你的雇主需要在相关年度的IR8A表格中报告这些福利。

一旦SRS提供了所需信息，那你可以在隔年的报税为这些款项申请税收减免。

如何开立SRS账户？

• 只需在DBS、UOB或OCBC银行中任选一间开立一个SRS账户。

• 请注意，如果你因以下原因关闭了先前的SRS账户，并因此取回了所有资金，你将不被允许开立新账户：

1. 达到规定的退休年龄或

2. 医疗原因。

• 一旦你的资金进入SRS账户，你就可以使用它进行投资，如新加坡储蓄债券（SSB）、定期存款（FD）、投连计划（ILPs）、单位信托（Unit Trust)，甚至是蓝筹股和单一保费保险。