SRS Calculator (2026)

SRS is a voluntary savings scheme introduced by the Singapore government to encourage individuals to save for retirement beyond CPF. Contributions are tax-deductible, investments within SRS grow tax-free, and only 50% of withdrawals are taxable at retirement. SRS accounts can be opened at DBS/POSB, OCBC, or UOB.

The annual SRS contribution cap is $15,300 for Singapore citizens and Permanent Residents, and $35,700 for foreigners. These limits apply per calendar year. You can contribute any amount up to the cap — there is no minimum contribution required.

You can make penalty-free withdrawals from your SRS account at the statutory retirement age (currently 63) or later. Withdrawals must be spread over a 10-year period. If you withdraw before the retirement age, a 5% penalty applies on top of the full amount being taxable (not the usual 50%).

The tax savings depend on your marginal tax rate. For example, if you earn $100,000 and contribute the full $15,300, you save $15,300 multiplied by your marginal tax rate. At the 11.5% bracket, that is approximately $1,760 in tax savings per year. Higher income earners save more due to higher marginal tax rates.

When you withdraw from SRS at or after the statutory retirement age, only 50% of the withdrawal amount is added to your taxable income. Spread over 10 years, this typically means each annual withdrawal is small enough to fall into the 0% or 2% tax bracket — making the effective tax on SRS withdrawals near zero for most retirees.

Both provide tax relief, but they serve different purposes. CPF top-ups earn guaranteed 4% (SA/RA) but are locked until 55-65. SRS funds can be invested in a wider range of instruments (stocks, bonds, ETFs, insurance) with potentially higher returns but also more risk. SRS also has more flexible withdrawal rules. Many Singaporeans maximise both for optimal tax savings.