I have a SRS account. Do you recommend topping up and use that to invest or use CPF? What’s the difference? - Seedly
Seedly logo
Seedly logo
 

PFF Panel 1

Seedly PFF 2019

CPF

Supplementary Retirement Scheme (SRS)

Anonymous

Asked on 02 Mar 2019

I have a SRS account. Do you recommend topping up and use that to invest or use CPF? What’s the difference?

0 comments

1 answer

Answer Now

Answers (1)

Sort By

Luke Ho
Luke Ho, Money Maverick at Money Maverick
Level 7. Grand Master
Answered on 08 Apr 2019

They are two different accounts.

Your CPF is your Singapore provided retirement account.

Your SRS is an optional retirement account (aka Supplementary), which is what the acronym stands for.

In order to answer this question, I would need to assess you based on the following.

1) Are you an employee, self employed or business owner?

2) What is the purpose of investing in your CPF or SRS in the first place?

3) What is your history of investing in these items?

4) Etc etc (insert questions a consultant would typically ask here)

Both are for your retirement, but SRS is typically more optional than CPF and will usually be priortized only AFTER CPF contributions.

Both offer you the opportunity to use the monies to invest for tax-deferred returns, as well as to legally obtain tax relief on contributing to both accounts. SRS has slightly more liquidity, being an optional account.

It would be best if you could have a Financial Consultant like myself advise you on your specific situation. You can reach me through here: https://www.facebook.com/luke.ho.54.

Or you can refer to the article I've written below about the description of services that we're talking about in relation to CPF and SRS.

https://www.moneymaverickofficial.com/posts/5-services-you-didn-t-know-but-should-expect-from-your-financial-consultant

0
👍
0
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post