SRS Calculator (Singapore) — Tax Relief & Withdrawal
See how a Supplementary Retirement Scheme (SRS) contribution lowers your taxable income now, and how withdrawals are taxed in retirement.
Open the free calculator →What you'll need
- Residency status (citizen/PR or foreigner)
- Planned SRS contribution
- Chargeable income / marginal tax rate
How it works
SRS contributions are deductible from taxable income, up to $15,300/year (citizens & PRs) or $35,700 (foreigners), within the $80,000 personal income-tax relief cap. The tax saved equals your contribution × your marginal tax rate.
Current Singapore rules
| Item | Value |
|---|---|
| Annual cap — citizens / PRs | $15,300 |
| Annual cap — foreigners | $35,700 |
| Taxable at withdrawal (from retirement age) | 50% |
| Early withdrawal | 100% taxed + 5% penalty |
Worked example
Contributing $15,300 at a 15% marginal rate saves about $2,295 in tax this year. In retirement you may withdraw over 10 years, with only 50% of each withdrawal taxable.
Important assumptions
- Tax saved depends on your marginal rate
- Prescribed retirement age is set when you make your first SRS contribution
- Investment returns inside SRS are tax-free until withdrawal
Cases not fully modelled:
- Specific investment performance inside SRS
- Detailed bracket-by-bracket tax for every income
- Foreigner full-withdrawal rules in detail
Official sources and verification
- IRAS — SRS contributions and tax relief
- IRAS — Tax on SRS withdrawals
- IRAS — Individual income tax rates
Direct links to the relevant official pages. Rules and rates change; last checked 21 June 2026. Always confirm against the official source.
Open the free calculator →Frequently asked questions
How much can I contribute to SRS?
Up to $15,300/year for citizens and PRs, or $35,700 for foreigners. Contributions reduce that year's taxable income (within the $80,000 relief cap).
Is SRS taxed when withdrawn?
From the prescribed retirement age you can withdraw over 10 years, with only 50% of each withdrawal taxable. Early withdrawals are fully taxed plus a 5% penalty.
Is SRS right for me?
It tends to benefit those with higher chargeable income who can leave the funds invested for the long term.