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Supplementary Retirement Scheme (SRS)

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Income Tax

CPF

Supplementary Retirement Scheme (SRS)

Yup! This is for reliefs. But for Self-Employed individuals you can adjust your assesable income by deducting costs of doing business during your tax filing.
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Endowus

Stocks Discussion

ETF

Robo-Advisors

CPF

Supplementary Retirement Scheme (SRS)

Hi! As a Financial advisory firm, we consistently look out for other offerings and funds available to make sure that we are distributing and advising our clients to take up the best products for them. There will be some annoucements coming very soon, keep an eye for that!
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Endowus

Investments

Supplementary Retirement Scheme (SRS)

Hi! For a beginner investor, I would imagine some of the bigger concerns about investment is 1. Convenience 2. Spreading out investment to reduce market volatility 3, Knowing that you are invested at a risk level you are comfortable with, Since this question is specific to an Endowus webinar, I will answer directly on how Endowus makes SRS investment experience better for beginner, or even for more advanced investors. 1. Our platform set up is 10-15 minutes, and the experience is entirely digital. Through a risk profiling, we will be able to advice you on the allocation of funds that you are supposed to take (ranging from a balanced risk portfolio of 60:40 between equities and bonds to an aggressive portfolio of 100:0. We will execute the trades through our partner UOB kayhian. Everything is done through us and made more conveient by our platform. You also get to see a projection of how your wealth will be like. 2, You can do a monthly recurring investment with us . 3. As mentioned in 1, you can choose a level of risk that is based on your comfort level. When value drops for your risk-profiled portfolio according to your expectations, you are more likely to remain invested. Hope this helps!
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Supplementary Retirement Scheme (SRS)

Investments

CPF

Hi Anon, I have actually wrote an article on this, and it looks at optimising SRS across 3 key factors: 1. Income tax, 2. Age of first contribution (contributing the full $15,300, and the same amount later on) 3. Assumed investment returns. I came up with a spreadsheet and used the above 3 factors as variable factors. Assuming a "conservative" 7% return (which is what we should get), for most age, it makes sense to contribute to SRS even at 7% income tax bracket. Of course you would benefit more at 11.5% or even 15%. On a more personal level, I think making sure you dont have this money for other commitments in the short to mid term is more important.
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Supplementary Retirement Scheme (SRS)

OCBC

Retirement

Davin
Davin
Level 7. Grand Master
Answered 4w ago
I am with OCBC but don’t have this problem. I just tested by putting in $1 and no issue.
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SG Budget Babe

Stocks Discussion

Investments

Supplementary Retirement Scheme (SRS)

Retirement

Shengshi Chiam, CFA
Shengshi Chiam, CFA, Personal Finance Lead at Endowus
Level 6. Master
Answered on 20 Dec 2019
Investing in any diversified low cost option, such as through LionGlobal All Seasons Fund (Growth), is a good alternative. You may want to note that you can customise a portfolio based on your risk appetite (100% equities, 80:20 equities bonds, 60:40 equities bonds, 40:60 equities bonds, 20:80 equities bonds, 100% bonds) with Endowus, which is somethjng you cannot do through lionglobal Also, these are some other considerations that you may want to take note of: 1. The LionGlobal portfolio is made up of several LionGlobal actively managed funds. 60% of the funds' underlying investment values are in actively managed funds. 2. Some of these actively managed equities funds are also not as highly diversified. The Dimensional World Equities Fund is made of of >10,000 underlying equity securities. 3. Dimensional Funds are managed in a systematic and research driven approach, where they tend to invest more in companies with factors that has a greater chance of outperforming (value tilt, profit tilt, and small caps tilt). This approach is very different from the value proposition from the LionGlobal All Seasons Fund 4. We also offer PIMCO institutional share class bond funds. PIMCO as a fund manager has a track record of outperforming its benchmark, and our mix of bond funds has yielded ~5% returns. These are also SGD hedged bonds. Do let me know if you want to find out about how our bond/ equities portfolio are chosen!
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CPF

Supplementary Retirement Scheme (SRS)

Hi Anon, I believe that you're correct! But just in case you're still unsure, let me try and break it down for you- Withdrawal of SRS funds for both Singaporeans and Non-Singaporeans will have an added 5% penalty ontop of the 50% tax if the withdrawal is made before the reitrement age of 62 years old, this is applicable to all withdrawals! However, if you are a foreigner (non-Singaporean Citizen, non-PR), you can withdraw your SRS monies without the 5% penalty if you meet the following criteria: 1. You're not a Singaporean Citizen or PR on the day of the withdrawal , and the 10 years preceeding that . 2. Your SRS account has been open for a minimum of 10 years - the start date would be your first contribution to your SRS account 3. The withdrawal is a one-time FULL withdrawal from your SRS account. Remember that this will only help you bypass the 5% penalty fee, NOT the 50% tax that is still applicable to all SRS withdrawals! Hope this helps!
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Supplementary Retirement Scheme (SRS)

Income Tax

Singapore Saving Bonds (SSB)

Davin
Davin
Level 7. Grand Master
Answered on 29 Feb 2020
By contributing to SRS, the fund will be locked till 62 years old. And the tax saving for yr case is not justifiable to put yr money to SRS. U can consider SRS when yr tax bracket hit 11% or 15%.
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Endowus

Robo-Advisors

Investments

CPF

CPF IS

Supplementary Retirement Scheme (SRS)

Shengshi Chiam, CFA
Shengshi Chiam, CFA, Personal Finance Lead at Endowus
Level 6. Master
Answered on 28 Feb 2020
Hi, For Endowus, the funds are held in your own legal name, so you have ownership of the funds throughout the entire process. Also the any investment monies are handled directly by UOB Kayhian, rather than transfered/handled by any entity owned by Endowus, so that is also another layer of safeguard. Endowus recommends a set of of diversified equity and bond funds. Despite the diversification, the funds' value is still subjected to marketing sentiments, so you should be prepared that there will be losses when the market tanks. Hope this answers your question!!
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Investments

Supplementary Retirement Scheme (SRS)

Stocks Discussion

Firstly, you need to determine whether you will be able to manage and invest on your own or to seek professional guidance for your investment. Next, we need to evaluate whether you are going to invest a single lump sum or to adpot the concept of dollar cost averaging and enter the market regularly. Here is a comparison between the two: https://www.blog.pzl.sg/dollar-cost-averaging-singapore-does-it-really-work/ As an available option, you may with to consider investing into a well-diversified portfolio that is professionally managed by fund managers. This allocation could be into asia equities, technology, REITS, or even healthcare. Besides, you may choose to take on independent advice from global investment firms like Mercer, and BlackRock to aid you through the process. Such instruments are available through AIA and here is their latest investment result: https://www.blog.pzl.sg/aia-singapore-investment-linked-fund-performance/ Here is everything about me and what I do best.
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