1 Your details
You can contribute up to S$15,300 a year.
Salary plus bonuses for the year, before CPF.
Please enter your annual income.
E.g. earned income relief, CPF relief, child or parent relief.
2 Your SRS top-up
Must reach your SRS account by 31 December to count for next year's tax bill.
3 Growth (optional)
Leave blank to skip. Uninvested SRS cash earns only about 0.05% a year. An illustration, not a forecast.
You've changed your details. Click Calculate to update the results.
4 Your results
Fill in your details and click Calculate
We'll show your tax with and without SRS, side by side.
With SRS vs Without SRS
| Without SRS | With SRS | |
|---|---|---|
| Your Annual Income | – | – |
| Less: Personal Tax Relief | – | – |
| Less: SRS Contribution | – | – |
| Chargeable Income | – | – |
| Income Tax Payable | – | – |
| Your Tax Savings | – |
estimated income tax saved this year
Tax This Year
See What Your SRS Could Grow To
Add your age (and an expected return) in step 3, then click Calculate.
If You Top Up This Amount Every Year
Until your SRS retirement age of 64.
| Years of Contributions | – |
| Total Put In | – |
| Total Tax Saved Along the Way | – |
| Estimated SRS Balance at 64 | – |
| Spread Over 10 Years From 64, About | – |
| Tax on Each Year's Withdrawal if It's Your Only Income | – |
Assumes today's tax rates and caps, and the same tax saving every year. Only 50% of what you withdraw from 64 onwards is taxed, so up to S$40,000 a year can come out tax-free if you have no other income.
Why People Use SRS
A voluntary retirement account that sits alongside CPF.
Lower Tax Now
Each dollar you put in comes off your taxable income, up to the yearly cap.
Tax-Free Growth
Investment gains inside SRS aren't taxed while they stay in the account.
Half-Taxed in Retirement
From your SRS retirement age, only 50% of each withdrawal counts as income, over up to 10 years.
Key Rules at a Glance
| Rule | Citizens & PRs | Foreigners |
|---|---|---|
| Yearly Contribution Cap | S$15,300 | S$35,700 |
| Deadline for This Year's Relief | 31 December (bank cut-off times apply) | |
| Overall Personal Relief Cap | S$80,000 a year, including SRS | |
| SRS Retirement Age | Fixed by your first contribution: 63 if made before 1 Jul 2026, 64 from 1 Jul 2026 | |
| Withdrawals at or After That Age | 50% taxable, no penalty; spread over up to 10 years | |
| Withdrawals Before That Age | 100% taxable plus a 5% penalty (some exceptions, e.g. medical grounds) | |
| Number of Accounts | One, with DBS, OCBC or UOB | |
Common Questions
Is SRS worth it for me?
It's most useful when your top tax rate is 7% or higher (chargeable income above S$40,000). Below that, the yearly saving is small and the money is locked up until retirement unless you pay a penalty. The calculator shows your top rate.
What happens if I just leave the money as cash?
It earns very little interest. Most people invest SRS money in things like Singapore Savings Bonds, unit trusts, ETFs, shares or insurance plans to make it grow.
Can SRS be used for insurance?
Yes. Some single-premium endowment and annuity plans can be bought with SRS money. Ask us which plans fit your retirement timeline.
Does SRS reduce my CPF contributions?
No. SRS is separate from CPF and voluntary. It doesn't change what you or your employer put into CPF.
Why is the S$80,000 relief cap important?
All your personal reliefs combined, including SRS, can't exceed S$80,000 a year. If you already claim close to that, an SRS top-up may save little or nothing. The calculator applies this cap.
Want to Plan Your SRS and Retirement Together?
Chat with us about how much to put in, where to invest it and when to withdraw. Free, no obligation.
Sources & How We Worked This Out
- Tax is worked out with IRAS resident progressive rates (0% on the first S$20,000 up to 24% above S$1 million), with no YA 2026 rebate.
- Tax saved = tax on (income − reliefs) − tax on (income − reliefs − SRS), with total reliefs capped at S$80,000.
- "Estimate for an employee" adds S$1,000 earned income relief plus 20% employee CPF on salary up to S$102,000 a year (the annual salary ceiling), for ages 55 and below. It ignores the monthly wage ceiling, so treat it as a rough guide.
- Growth assumes the same contribution at the start of each year until age 64, compounding at the return you choose.
- Rules: IRAS – SRS contributions and tax relief.
For planning discussion only. Not financial or tax advice. Rates and rules last checked October 2026.