SRS Calculator Singapore 2026: Tax Savings, Investment Options and Withdrawal Rules
Updated April 2026 · 10 min read
SRS: Singapore Voluntary Tax-Saving Retirement Account
The Supplementary Retirement Scheme is Singapore equivalent of an IRA or pension top-up. Contributions reduce your taxable income now, investments grow tax-free inside the account, and only 50 percent of withdrawals are taxed at retirement. For high earners, SRS is a powerful tax planning tool. Use our tax calculator (SGD) to see your tax savings and our retirement calculator to project your SRS balance.
At a 22 percent marginal rate, the maximum SGD 15,300 contribution saves SGD 3,366 per year in taxes. Over 20 years of maximum contributions plus investment returns at 7 percent, your SRS could grow to approximately SGD 700,000. At withdrawal, only 50 percent is taxable, spread over 10 years — effective tax rate often near zero for most retirees.
How to Invest Your SRS Money
Do not leave SRS money in cash. The default SRS account earns negligible interest. Invest in a globally diversified ETF (IWDA or VWRA through your bank broker) or use Endowus for lower minimum investments with curated fund portfolios. The 20 to 30 year time horizon makes aggressive equity allocation appropriate for younger investors.
The withdrawal strategy matters. Start withdrawing from age 63 and spread over exactly 10 years to minimize tax. Since only 50 percent of each withdrawal is taxable, a SGD 70,000 annual withdrawal has only SGD 35,000 taxed — falling within the low tax brackets. Model your withdrawal with our compound interest calculator and investment calculator.
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Frequently Asked Questions
How much can I contribute to SRS?
SGD 15,300 per year for Singapore citizens and Permanent Residents. SGD 35,700 for foreigners. Contributions are tax-deductible. At 22 percent marginal rate, SGD 15,300 saves SGD 3,366 in taxes.
How is SRS taxed on withdrawal?
Only 50 percent of withdrawals are taxable after statutory retirement age (currently 63). Withdrawals are spread over 10 years. Since only 50 percent is taxed and it is spread over 10 years, the effective tax rate is often 0 to 5 percent even on large balances.
What can I invest SRS money in?
Stocks, bonds, ETFs, unit trusts, fixed deposits, insurance products, and REITs. The money sits in your SRS account at your bank and you invest through your bank broker. Endowus also allows SRS investing with lower minimum amounts.
Should I contribute to SRS or CPF top-up?
CPF SA top-up first: guaranteed 4 percent return plus tax relief. Then SRS: tax relief plus investment flexibility. CPF SA is locked until 55 with limited investment options. SRS can be invested in anything and withdrawn (with penalty) if needed.
What happens if I withdraw SRS early?
The full withdrawal amount is taxable (not 50 percent) plus a 5 percent penalty. Early withdrawal is very expensive. Only withdraw early in genuine emergencies.