Estimate your SRS tax relief, tax savings, and withdrawal tax. This model uses the statutory retirement age that applied when you first contributed to SRS.
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The Supplementary Retirement Scheme (SRS) is a voluntary scheme that lets you set aside money for retirement in exchange for upfront income tax relief. Every dollar you contribute reduces your chargeable income for that Year of Assessment, which is taxed under Singapore’s progressive personal income tax brackets (0% up to $20,000, rising in steps to 24% above $1,000,000).
This calculator computes your income tax twice: once on your full annual income, and once on your income after subtracting your SRS contribution. The difference is your annual tax savings. It then projects your SRS account balance year by year to your chosen withdrawal age, compounding your contributions at your expected investment return.
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Singapore Citizens and Permanent Residents can contribute up to $15,300 a year. Foreigners have a higher cap of $35,700 a year, since they don’t have CPF. Contributions above your cap earn no additional tax relief.
Only 50% of any SRS withdrawal is taxable, whether you withdraw at the statutory retirement age that applied when you first contributed, or earlier (in which case a 5% penalty also applies on top of full taxation). This calculator assumes withdrawals are spread evenly over 10 years from your chosen withdrawal age, which is a common strategy to keep each year’s taxable withdrawal, and therefore the tax rate applied to it, low.
This tool provides educational estimates only, not licensed financial or tax advice. Actual outcomes depend on your full tax position, future rate changes, and investment performance.
SRS Tax Savings for a $60,000 Income Earner in Singapore
Is SRS worth it at $60,000 income in Singapore? The tax saved at the 7% bracket, the balance by 64, and why withdrawals can be almost tax-free.
SRS Tax Savings for a $80,000 Income Earner in Singapore
How much tax a Singapore citizen or PR earning $80,000 a year saves by maxing out SRS, and why the deduction falls entirely in the 7% band.
SRS Tax Savings for a $100,000 Income Earner in Singapore
SRS tax savings at $100,000 income in Singapore: the annual saving at the 11.5% bracket, the projected balance at 64, and the tax on withdrawal.
SRS Tax Savings for a $120,000 Income Earner in Singapore
SRS tax savings at $120,000 income in Singapore, and why it saves exactly the same as at $100,000. Includes balance at 64 and withdrawal tax.
SRS Tax Savings for a $150,000 Income Earner in Singapore
How much SRS saves at $150,000 income in Singapore (15% bracket), the projected balance at 64, and how much tax the withdrawals attract.
SRS Tax Savings for a $200,000 Income Earner in Singapore
SRS tax savings at $200,000 income in Singapore (18% bracket), and how $30,000 of rental or other income in retirement changes the withdrawal tax.
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Singapore Citizens and Permanent Residents can contribute up to $15,300 a year. Foreigners have a higher cap of $35,700 a year, reflecting their exclusion from CPF.
From your penalty-free withdrawal age (63 if your first contribution was before 1 July 2026, 64 if on or after), only 50% of each withdrawal is taxable. Withdrawals before that age are 100% taxable and attract a 5% penalty.
SRS tax relief is most valuable at higher marginal tax rates, since the deduction saves tax at your marginal rate. If your income is within the tax-free bracket, SRS contributions won’t generate an immediate tax saving.
SRS cap: $15,300/year
After CPF deductions & reliefs
Use the statutory retirement age when you made your first SRS contribution
Max: $15,300/year
SRS funds can be invested in stocks, bonds, ETFs
Used to estimate the marginal tax on SRS withdrawals
Annual Tax Savings
S$1,759
At your marginal rate of 11.5%
29 years of contributions at $15,300/year with 4% annual returns
Total Contributions
$443,700
Investment Gains
$399,100
Total Tax Savings
$51,025
Total SRS at Retirement
$842,800
Annual Withdrawal
$84,280
Taxable (50%)
$42,140
Annual Tax
$700
Total Tax (10 yrs)
-$6,998
Tax savings minus withdrawal tax over 10-year period
Projected withdrawals from age 64 to 73