What is Supplementary Retirement Scheme (SRS)?

Supplementary Retirement Scheme (SRS) is a voluntary savings programme to encourage you to save for retirement, while you enjoy tax savings.

How does SRS reduce your taxable income?

SRS reduces your taxable income by the same amount contributed to your SRS account with maximum yearly contribution of S$15,300 by Singaporeans and PRs, and S$35,700 by foreigners.

Calculate how much tax you save with SRS

Total yearly income:

Less: Personal reliefs:

The amount you want to contribute to SRS:

Maximum contribution of S$15,300 for Singaporeans and PRs, and S$35,700 for Foreigners
Note: With effect from 1 January 2017, total personal reliefs will be cap at S$80,000 from Year of Assessment 2018. This cap applies to the total amount of all tax reliefs claimed, including any relief on SRS contributions.
Your tax savings
  Without SRS   With SRS
Total yearly income S$0   S$0
Less: Personal reliefs S$0   S$0
SRS contribution S$0   S$0
Taxable income S$0   S$0
  Total tax payable   Total tax payable
  S$0   S$0
You will save 0 of your tax this year!   Tax savings
S$0
Without SRS With SRS
Total yearly income
S$0 S$0
Less: Personal reliefs
S$0 S$0
SRS contribution
S$0 S$0
Taxable income
S$0 S$0
Total tax payable
S$0 S$0
You will save 0 of your tax this year! Tax savings
S$0
Important Notice

The contents of this website (including, without limitation, the results shown by the calculator) are meant to be used as a general guide only. It does not take into account each person's personal circumstances and should not be used as a substitution for proper tax advice.

OCBC Bank makes no representation or warranty as to the accuracy, adequacy or completeness of the contents of this website. OCBC Bank shall not be responsible or liable for any loss or damage which may arise in connection with any person relying and/or acting on the information provided (or derived) herein.

Enjoy higher returns with your SRS funds

The SRS account is a great start to your retirement savings plan. Not only do you enjoy tax savings, you can also invest your SRS funds in a wide range of financial products.

Read more about why investing with SRS funds is growing in popularity among investors.

Enjoy these limited time promotions when you invest with your SRS funds:

Insurance

Plan for your future with single premium endowment insurance plans that provide financial protection for death and total and permanent disability(TPD) during the policy term.

Receive S$20 worth of Robinsons gift vouchers for every S$10,000 placement in selected single premium insurance plans.

Single Premium Special 1.88%
  • 5-year endowment insurance plan with guaranteed yearly survival benefits.

PrimeGold Bonus 2
  • 15 or 20-year endowment insurance plan that pays yearly cash payouts after the accumulation period.

Note: The yearly cash payouts will be paid to your SRS account.

Make an appointment
Unit Trusts

Over 40 unit trust funds available for purchase with SRS funds.

Receive S$10 worth of Robinsons gift vouchers for every S$10,000 investment (only applicable for branch purchase).

 

Fund ideas for potential long term returns in an uncertain environment, carefully selected by our Wealth Panel and Advisors:

LionGlobal Short Duration
Bond Fund

Invests in a portfolio of Singapore and international bonds

Fullerton USD
Income Fund

Invests primarily in bonds or debt securities

Schroder Asian Income

Invests in Asian equities and bonds

Other eligible financial products under the SRS scheme:

3 ways to apply for
an OCBC SRS Account

If you are an existing OCBC Savings or Current Account customer,
you can login to OCBC Online Banking to open an account.

Login

Please bring along the required documents for an SRS Account opening with OCBC.

1

NRIC

for Singaporeans
and Singapore PRs

Passport + Employment Pass/S-Pass

for Foreigners

2

Additional Documents

Include any one of the following documents:

  • Phone bill
  • Half-yearly CPF statement
  • Any bank statement
Download Application Form

Complete the form and mail it to us with copies of your:

1

NRIC

for Singaporeans
and Singapore PRs

Passport + Employment Pass/S-Pass

Employment Pass/S-Pass or Student Pass and
passport for foreigners

2

Additional Documents

for non-OCBC deposit customers

Include any one of the following documents:

  • Phone bill
  • Half-yearly CPF statement
  • Any bank statement
Important notices