SRS Calculator (2026)
Calculate your tax savings and future value from SRS contributions.
What is the Supplementary Retirement Scheme (SRS)?
SRS is a voluntary savings scheme that complements CPF, offering tax deductions on contributions and tax-free investment growth. Only 50% of withdrawals are taxable at retirement age (63), making it a powerful tool for high-income earners to reduce their current tax bill while building retirement wealth.
infoCap: $15,300/year for Singapore Citizens and PRs
Enter your SRS details to see tax savings and growth projections
Disclaimer
This calculator provides estimates and should not be viewed as a prediction. Actual retirement income may vary due to changing CPF interest rates, market conditions, and individual circumstances. It is not intended to be your sole source of financial guidance.
Rates last verified: 4 Apr 2026.
Verify with CPF Board (https://www.cpf.gov.sg). Full disclaimer at smartcalculator.sg/disclaimer.
Quick Reference
- • Annual contribution cap: $15,300 (Singapore citizens & PRs) / $35,700 (foreigners)
- • Contributions are fully tax-deductible in the year of contribution
- • Investments within SRS grow tax-free (no capital gains or dividend tax)
- • Only 50% of withdrawals are taxable at or after statutory retirement age (63)
- • Early withdrawal penalty: 5% on top of full amount being taxable
How SRS Tax Savings Work
SRS contributions receive full tax relief up to the annual cap of $15,300 for Singapore citizens and PRs. This means every dollar you contribute reduces your taxable income by the same amount, saving you tax at your marginal rate. Use our Income Tax Calculator to find your current marginal rate and estimate the exact savings.
Inside your SRS account, investments grow tax-free. You can invest in stocks, bonds, ETFs, unit trusts, fixed deposits, and insurance products. There is no capital gains tax or dividend tax on SRS investments.
At retirement (age 63+), only 50% of withdrawals are taxable. Spread over 10 years, each annual withdrawal is typically small enough to fall into the 0% or 2% tax bracket — making the effective tax on SRS near zero for most retirees. The net benefit is: tax saved now + investment returns - minimal tax at withdrawal. To see how SRS complements CPF in retirement, estimate your lifelong payouts with the CPF Life Estimator.
Contribute
Up to $15,300/year (citizens & PRs)
Full tax deduction on contributions
Invest & Grow
Stocks, bonds, ETFs, unit trusts, FDs
Tax-free investment growth
Withdraw at Retirement
50% taxable, spread over 10 years
Near-zero effective tax for most retirees
Who This Calculator Is For
Singapore Citizens and PRs Saving for Retirement
Using SRS for tax relief and retirement savings.
- Annual cap (SC/PR): $15,300
- Tax relief: Dollar-for-dollar at your marginal rate
- Withdrawal tax: First $40,000 SRS: only $20,000 taxable — often 0% tax
- Strategy: Withdraw from age 62 over ≥10 years for maximum tax efficiency
High-Income Earners Maximising Tax Savings
SRS is most valuable for top marginal rate taxpayers.
- At 22–24% marginal rate: $15,300 SRS saves $3,366–$3,672/year
- At 11.5% rate: Saves ~$1,760/year
- Rule of thumb: SRS valuable if you pay >7% effective tax rate
- 20-year cumulative: Potential $67,000+ in tax savings at 22%
Foreigners Working in Singapore
SRS for expats and EP holders.
- Foreign cap: $35,700/year (vs $15,300 for SC/PR)
- Rationale: Higher limit reflects no CPF contributions
- Leaving Singapore: 10% penalty applies before age 62
- Permanent departure: Lump-sum withdrawal available
Investors Building Diversified Portfolio
SRS as a tax-sheltered investment account.
- Default rate: Only 0.05% in SRS bank account — must invest
- Options: SSBs, ETFs (ES3, A35), unit trusts via SRS
- Tax-free growth: Investment returns compound until withdrawal
- Mindset: Treat SRS as a long-term investment account
SRS vs CPF Voluntary Top-Up: Which Gives Better Returns?
| Feature | SRS | CPF RSTU (RA Top-Up) |
|---|---|---|
| Annual limit (SC/PR) | $15,300 | $8,000 (RA) |
| Tax relief | Yes — dollar for dollar | Yes — up to $8,000 |
| Investment options | Wide (ETFs, bonds, stocks) | CPF LIFE payout only |
| Withdrawal age | 62 (penalty-free) | 65 (CPF LIFE) |
| Flexibility | Moderate | Low |
| Best for | Investment-oriented, high-income | Guaranteed lifelong income boost |
Frequently Asked Questions
What is the Supplementary Retirement Scheme (SRS)?expand_more
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.
What is the SRS contribution cap for 2026?expand_more
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.
When can I withdraw from my SRS account?expand_more
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%).
How much tax do I save with SRS contributions?expand_more
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.
How does the 50% taxable withdrawal work?expand_more
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.
How does SRS compare to CPF voluntary top-ups?expand_more
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.
Sources
- • IRAS (iras.gov.sg) — SRS tax treatment, contribution caps, and withdrawal rules
- • MOF (mof.gov.sg) — SRS scheme design and statutory retirement age
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