Are Your SRS Savings Sitting Idle and Losing Value against Inflation?
Optimise your SRS savings through long term investments to maximize returns for your retirement needs.
Optimise your SRS savings through long term investments to maximize returns for your retirement needs.
SRS is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings.
SRS contributions are made over and above CPF contributions, and enjoy tax relief as well.
You can grow your SRS funds exponentially through long term investments, which could better increase your investment value to give you a more comfortable retirement.
But are Your SRS Savings Sitting Idle?
Are you losing out on opportunity cost?
By saving your hard-earned money in SRS without investing, you may potentially lose out $365,091 over the long run. Talk to your consultant to customize an SRS plan for you.
Depending on your objectives, there are multiple financial solutions to invest your SRS savings
20 approved products from 6 insurers
We have more than 1400 solutions, to suit your every needs
With over hundreds of financial solutions from 70 asset management companies and 6 insurance companies, we can help you to narrow down the options and optimise your SRS savings to suit your needs best.
(All information on investment and insurance products are correct as of 1 October 2023.)
Tea Eng Peng 郑永平 is a highly accomplished financial consultant with a proven track record in the financial industry. His extensive expertise has earned him the respect of various media outlets, including 财经追击 Money Week and 早报, where he is a frequent commentator on financial management matters.
Tea Eng Peng specializes in providing bespoke Holistic Financial Planning solutions that cover all aspects of Wealth Management, ranging from investment and insurance products to personalized mortgage loan advice. He also excels in Talent Retention Programs and Pension Plans, collaborating with corporations to deliver Lunch Time Talks and Workshops. His innovative and creative approach has made him a go-to consultant for SME business owners looking for out-of-the-box solutions when designing their Succession or Exit Plans.
With over two decades of experience in the financial industry, Tea Eng Peng has worked for various financial institutions, including an agency, a brokerage firm, a securities firm, and an independent financial advisory firm. He is deeply committed to imparting his skills and knowledge to aspiring individuals who aspire to excel in the financial industry by prioritizing clients' interests.
Tea Eng Peng is a trailblazer in his company, having achieved the highest company ranking within the shortest timeframe. He accomplished this by leveraging his proven 5 Steps Success System to build his team and business from zero income and manpower.
Tea Eng Peng is passionate about leveraging technology to enhance work efficiency. He harnesses the power of the internet and social media to attract the right clients and utilizes phone apps and computer tools to ensure that business is just a click away. His dedication to utilizing the latest technologies ensures that he stays at the forefront of the industry, providing the highest level of service to his clients.
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Financial Alliance is a leader in providing wealth advisory services to individuals and corporates alike, including private wealth advisory, Islamic wealth advisory and fee-based advisory.
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Learn MoreThe Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.
Any Singapore Citizens, Singapore Permanent Residents (SPRs) and foreigners who is a Singapore Tax Resident may make SRS contributions in the current year.
The annual contribution limit for SRS is $15,300 for Singapore Citizens/Permanent Residents and $35,700 for foreigners.
You will be allowed SRS tax relief in the Year of Assessment following the year of contribution, provided you are a tax resident for that Year of Assessment. However, a personal income tax relief cap of $80,000 applies to the total amount of all tax reliefs claimed (including relief on SRS contributions).
You will not be allowed SRS tax relief if:
Your SRS account is suspended as at 31 Dec of the year of contribution; or
The amount of such contribution is withdrawn from your SRS account in the same year of contribution.
You are able to make a wide variety of investments, including shares, insurance, bonds, unit trusts and fixed deposits. Let us help you find the best investment vehicle that suit your needs.