Supplementary Retirement Scheme (SRS)
Asked on 10 Jun 2020
I use SRS for the sake of saving income taxes.
And since its for the sake of long term, i deploy it in ETF or stocks at the highest risk level, for long term, this will allow me to have a higher returns, and I can stomach the volatility (since its for long term).
In Singapore there is CPF, why is a second retirement account created? The SRS is for your retirement but unlike CPF, the SRS Acccount has the freedom to withdraw albeit with a penalty. This give the account holder the option to manage it as your liquid capital, if you wish. And correspondingly you should invest it equally as per your capital.
SRS is totally different. The interest in the SRS account is miserable... so you have to deploy it to the right investment to yield a reasonable return.
Show More Products