Make the most of your SRS
Save on taxes and maximise your retirement savings when you invest your Supplementary Retirement Scheme (SRS) funds with StashAway.
We’re licensed by the Monetary Authority of Singapore (Licence no. CMS100604).
Lower your taxes
Reduce your taxable income by $15,300 SGD a year (or $35,700 SGD for foreigners) when you set aside money in your SRS account for your retirement.
Grow your retirement savings
Don’t let your money earn 0.05% in your SRS account. Invest in curated portfolios designed to maximise your returns with no lock-up.
Invest at lower or no fees
Our management fees are only 0.2% to 0.8% annually.
- No account setup or exit fees
- Unlimited, free withdrawals
- Unlimited, free transfers between portfolios
- Rebalancing, transaction, and re-optimisation costs included
Learn more about our fee structure here.
It pays to have an SRS account
Illustration is based on an annual income of $100,000 SGD and personal reliefs of $30,000 SGD.
*Capped at the maximum yearly contribution of $15,300 SGD for Singaporeans and PRs, and $35,700 SGD for foreigners.
See how much you can save on taxes
Max. contribution is $15,300 SGD
Grow your SRS with StashAway
Here are some ways you can grow your SRS funds
Investing your SRS with StashAway gives you access to a wide variety of investment options. Simply choose a portfolio that matches your risk appetite and time horizon.
Keep your retirement funds secure
Withdrawing your SRS
Withdrawal amount in any given year | Amount on which you pay tax (50%) | Tax payable |
|---|---|---|
$40,000 | $20,000 | Nil, because the first $20,000 is tax exempt |
$80,000 | $40,000 | $550 |
$160,000 | $80,000 | $3,350 |
All amounts are in SGD. The payable tax is based on the prevailing tax rates as of December 2022.
Tip: For Singaporeans and PRs at retirement age, withdrawing in smaller increments over 10 years can reduce the amount of tax they pay per year, given that the first $40,000 is tax exempt.
Retire better with StashAway
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Frequently Asked Questions
Who is eligible to open an SRS account?
Any Singaporean Citizen, Permanent Resident, or foreign employee who is a tax resident of Singapore can contribute to an SRS account.
How do I invest my SRS funds using StashAway?
If you haven’t done so already, first open an SRS contribution account with DBS, OCBC, or UOB.
Then, to start investing your SRS funds with StashAway, create a new portfolio and indicate that you want to use SRS funds, and you'll be guided through the quick setup process.
On your behalf, we can automatically request the SRS funds from your SRS contribution account bank at the date and/or frequency you specify. That way, you don't have to worry about remembering to transfer! Your deposit plan into StashAway from your SRS account can be changed at any time right from our app.
What are the fees involved with investing my SRS with StashAway?
StashAway has only a simple annual fee between 0.2% and 0.8%, depending on your overall StashAway account balance. There are no subscription fees, no redemption fees, no custodian fees, and no penalty fees.
There's a 0.15% p.a. management fee with StashAway Simple™ portfolio.
You can view the pricing structure here.
What are the tax benefits associated with SRS?
SRS’s main advantage is the tax benefits it offers. Whatever amount you contribute to your SRS account is fully deducted from your tax bill that year (Singaporeans and PRs can contribute to their SRS bank accounts up to $15,300 SGD per year, and foreigners can contribute up $35,700 SGD per year). These contributions lead to significant tax savings: Singaporeans who max out their SRS contributions can decrease their taxes by up to $3,366 SGD each year, depending on their tax bracket. Foreigners, given their larger contribution cap, can save nearly $8,000 SGD per annum, totaling nearly $80,000 SGD over the course of 10 years, assuming a full SRS contribution during those 10 years.
Withdrawals at retirement (or when conditions are met) are given a 50% tax concession and can be spread over 10 years to minimise taxes.