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Anonymous

18 May 2021

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What is the SRS (supplementary retirement scheme) and how can we make use of it? Is it recommended for young working adults?

I just turned 26 this year and saw this article on the Sunday Times by Lorna Tan regarding the SRS. What is it and how can we utilise it for growing our investments?

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Jordan

18 May 2021

Like what has been mentioned earlier, SRS lets you to reduce your taxes while building up your retirement funds. Even if you have no current plans on utilising the SRS, it may be a good idea to lock in your retirement age first by topping up $1 into your SRS account.

Seedly has an article about it if you're interested:

Why You Should Top Up $1 To Your Supplementary Retirement Scheme (SRS) Account Today

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Tan Choong Hwee

07 May 2021

Solutions Specialist at Providend

You may read this Seedly blog post on SRS:

Supplementary Retirement Scheme (SRS): What Is SRS + What Can You Invest in & Everything You Need To Know

In short, it is a tax deferment scheme. You enjoy tax relief when you contribute to SRS, so it makes sense when your annual renumeration hit high income tax bracket.

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Vicente Bitoon

07 May 2021

Young adults eventually grow old, and SRS will be meaningful to them as they understand it reaching ...

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How can a young working adult save more for retirement, with the increasing cost of living and stagnant wages?

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