CPF Top-up ROI Calculator Singapore (2026)
Compare CPF SA/RA top-ups, SRS, unit trusts, and cash savings — side by side with tax relief factored in.
Your Investment Details
Adjust the inputs to compare all four options side by side.
info CPF top-up tax relief is capped at S$8,000/year under the RSTU scheme.
Used for Option B (SRS) and Option C (Unit Trust). Cash savings fixed at 2.5% p.a.
Compare All Options
After 10 years with S$10,000 invested.
Future value
S$14,802
Best for: Guaranteed 4% return + tax relief
Tax relief capped at S$8,000 top-up limit
Future value
S$17,908
Best for: Tax relief + market returns
50% of withdrawals taxable at prevailing rates after age 62
Future value
S$17,908
Best for: Full liquidity, market growth
Future value
S$12,801
Best for: Zero risk, full access
CPF top-up is likely optimal for your tax bracket.
At a 15% marginal tax rate, the upfront tax relief combined with the guaranteed 4% p.a. SA/RA interest typically outperforms other options over a medium to long time horizon. Consider maxing the S$8,000 annual cap first.
Projections are illustrative only. Unit trust returns are not guaranteed. CPF and SRS rules may change. Verify with cpf.gov.sg and iras.gov.sg before making financial decisions.
How the 4 Options Work
Each option below treats the same lump-sum amount differently in terms of growth rate, tax relief eligibility, and accessibility. The calculator shows you the projected future value and total effective return for each path.
Option A — CPF SA/RA Top-up
- Earns a guaranteed 4% p.a. in the Special Account (SA) or Retirement Account (RA) for members aged 55+
- Dollar-for-dollar tax relief up to S$8,000/year under the Retirement Sum Topping-Up Scheme (RSTU)
- Funds are locked until age 55 (transferred to RA) and then accessible from age 65 via CPF LIFE payouts
- Note: an extra 1% interest on the first S$60,000 combined CPF balances is not modelled for simplicity
Option B — SRS Investment
- Contributions earn dollar-for-dollar tax relief (no annual cap tied to RSTU; SRS contribution cap is S$15,300/year for citizens/PRs)
- Invested funds grow at your chosen unit trust / ETF return rate
- Accessible from the SRS statutory retirement age (62); only 50% of withdrawals are taxable
- Withdrawal tax impact not modelled — stagger withdrawals over 10 years to minimise tax
Option C — Unit Trust / ETF
- Grows at your chosen expected return (default 6% p.a.) — no guarantee
- No tax relief and no lock-in period — fully liquid at any time
- Best suited for investors who want market exposure without liquidity constraints
Option D — Cash Savings / T-bills
- Fixed at 2.5% p.a. — representative of a high-yield savings account or short-duration T-bill ladder
- No tax relief, zero lock-in, zero capital risk
- The baseline for any comparison — inflation erosion is the primary risk
Frequently Asked Questions
How much tax relief do I get for CPF top-ups?expand_more
Under the CPF Retirement Sum Topping-Up Scheme (RSTU), you get dollar-for-dollar tax relief on cash top-ups to your own CPF Special Account (SA) or Retirement Account (RA), up to S$8,000 per year. An additional S$8,000 relief is available for top-ups to your parents’ or spouse’s CPF, for a total potential relief of S$16,000 per year.
What interest rate does CPF SA/RA earn?expand_more
The CPF Special Account (SA) and Retirement Account (RA) earn a minimum 4% per annum, guaranteed by the Singapore government. An extra 1% interest is paid on the first S$60,000 of combined CPF balances (with up to S$20,000 from the OA), and an additional 1% on the first S$30,000 for members aged 55 and above.
What is the SRS contribution limit?expand_more
Singapore Citizens and PRs can contribute up to S$15,300 per year to SRS (as of 2026). Foreigners have a higher limit of S$35,700. SRS contributions qualify for dollar-for-dollar income tax relief.
Can I withdraw from CPF SA before 55?expand_more
Generally, no. CPF SA funds are locked until age 55 (when they are transferred to the Retirement Account) and then only accessible from the payout eligibility age (currently 65 for CPF LIFE). However, CPF SA funds can be used for approved investments and certain life insurance premiums before 55.
Is CPF top-up worth it if I’m in a low tax bracket?expand_more
If your marginal tax rate is below 7%, the tax savings from a CPF top-up are modest (less than S$700 on a S$10,000 top-up). In that case, the 4% guaranteed return is still competitive versus cash savings, but a unit trust or ETF with higher expected returns and full liquidity may be preferable, depending on your risk tolerance.
What happens to my SRS at age 62?expand_more
From the SRS statutory retirement age (62 as of 2026), you can withdraw from your SRS account over a 10-year window. Only 50% of each withdrawal is taxable as income. Withdrawing in smaller tranches over multiple years helps minimise the tax impact.
Should I top up CPF SA or invest in a unit trust?expand_more
If your marginal tax rate is 15% or above, CPF SA top-ups (4% guaranteed + tax relief) typically outperform a unit trust after tax. For lower tax brackets, the calculus depends on your expected investment return and time horizon. This calculator models both scenarios to help you decide.
What is the CPF Ordinary Wage ceiling in 2026?expand_more
The CPF Ordinary Wage (OW) ceiling is S$8,000 per month from January 2026 (up from S$6,800 in 2024 and S$7,400 in 2025 under the phased increase). Only wages up to this ceiling attract CPF contributions.
Related CPF & Retirement Calculators
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Sources
- • CPF Board (cpf.gov.sg) — SA/RA interest rates, Retirement Sum Topping-Up Scheme rules, RSTU tax relief cap
- • IRAS (iras.gov.sg) — Income tax brackets YA2026, SRS tax relief treatment, CPF Cash Top-Up Relief
- • Ministry of Finance (mof.gov.sg) — SRS contribution limits and withdrawal rules