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Nier Boi

7d ago

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SRS fees eating 1%+ returns - time to switch?

Been maxing out my SRS contributions for three years now (die die must hit that $15.3k limit for tax relief), but honestly still feel like I'm getting rekt by fees. Started with DBS Vickers thinking the bank route was safer, but wah lau, those custody fees really add up when you're looking at a 20+ year timeline. Last year I calculated I was paying almost $200 annually just in platform fees across my SRS and regular trading accounts - that's like 1.3% drag on a $15k portfolio already!

The real sian part is managing everything separately - checking SRS balance on one platform, regular investments on another, and trying to coordinate with CPF-IS allocations manually. Made some paiseh over-allocation mistakes because I couldn't see the full picture in one place, ended up with like 90% equities when I meant to have 70%. Now with Dec 31 deadline coming up fast and bonus season around the corner, I'm seriously considering switching to something more integrated. Anyone else been through this platform migration journey with SRS? Like is it worth the hassle to switch or should I just suck it up with current setup? Really curious what you guys ended up with and if the switching process damn troublesome or not.

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Tony

6d ago

Computer Engineering at Nanyang Technological university

Return, and/or tax savings would be more than 1.3% for high earner who can max out SRS every year so should be ok ba.

i'm not sure the multiple platforms ,aren't the trading platform will do the CPF-IS coordination?

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