SRS Tax Savings Calculator
Calculate your immediate 2026 tax relief and long-term retirement benefits with the SRS.
Last updated: April 2026
What is the SRS?
The Supplementary Retirement Scheme (SRS) is a voluntary scheme to complement the CPF. It is designed to encourage individuals to save more for retirement through significant tax incentives.
The Immediate Benefit: Every dollar you contribute to your SRS account reduces your taxable income for the year, saving you money at your highest marginal tax rate.
The Withdrawal Perk: Withdrawals at retirement age are 50% tax-exempt. If you spread your withdrawals, you can effectively pay 0% tax on your entire pot of savings.
How to use this calculator
- 1Annual Income — Input your total taxable income (salary + bonus) before any reliefs.
- 2Contribution Amount — Singapore Citizens/PRs can contribute up to S$15,300/year. Foreigners can contribute up to S$35,700/year.
- 3Check Savings — The calculator tells you exactly how much your income tax bill will drop next year.
Formula & example
Tax Savings = SRS Contribution × Marginal Tax Rate
If you earn S$150,000 and contribute the max S$15,300, your tax rate is roughly 15%. You save S$2,295 on your tax bill immediately.
Benefits
Progressive Savings
The more you earn, the higher your tax bracket, and the more you save with SRS.
Investment Growth
Unlike CPF, you can invest your SRS funds in a wide range of stocks, ETFs, and insurance products.
Future Exemptions
At retirement, you only pay tax on 50% of what you take out.
Use cases
High Income Earners
Highly effective for those in the 15% tax bracket and above.
Expats in Singapore
Foreigners get a massive S$35,700 cap, making it one of the best tax-reduction tools available.
Frequently asked questions
Is there interest on SRS?+
If left in cash, the interest is a nominal 0.05%. You MUST invest the funds to see real growth.
Can I withdraw early?+
Yes, but you will pay a 5% penalty and the full amount will be taxed as income for that year.