UOB-SRS Account

  • crs-accountcrs-account

    Retirement "idea" #1: Move to a smaller home

    For greater retirement certainty, open a UOB SRS-Account to boost your nest egg and enjoy tax savings.

  • Retirement "idea" #2: My Child

    For greater retirement certainty and financial independence, open a UOB-SRS Account to boost your nest egg and enjoy tax savings.

  • SSBSSB

    Boost your retirement savings with Singapore Savings Bonds (SSB)

    SSB investments can now be made with SRS funds*

    Find out more

    *Insured up to S$50K by SDIC. This advertisement has not been reviewed by the Monetary Authority of Singapore.

Benefits

The Supplementary Retirement Scheme (SRS) is a voluntary savings programme that complements your Central Provident Fund (CPF) savings for retirement. It is designed to help you save on taxes, make investments to boost your retirement savings and provide you with the flexibility to withdraw when needed.

tax

Tax savings

Show moreShow less
tax-free-investment-gains

Tax-free investment gains

Show moreShow less
flexibility-widhdraw

Flexibility to withdraw

Show moreShow less

Every dollar you deposit into your SRS account reduces your taxable income by a dollar.

Each year, Singaporean and PRs can contribute a maximum of S$15,300 (S$35,700 for foreigners) to their SRS accounts. To be eligible for SRS tax relief next year, your contribution has to be made by 31 December this year.

Use the calculator below to find out how much tax you can save with SRS.

 

The SRS may seem like any other savings account that earns you daily interest, but there’s actually more to it.

You can make your SRS funds work harder by investing with a long-term view to grow your retirement savings. For example, you can use your SRS funds to invest in unit trusts, insurance plans, stocks, ETFs, REITs, Singapore Savings Bonds and more. Any gains realised on your investments are  accumulated tax-free — they are not subject to income tax before withdrawal*.

Approach a banker at any  UOB Branch to explore investment options for your SRS funds.

*Only 50% of the withdrawals from SRS are taxable at retirement.

 

If you withdraw from your UOB-SRS account on or after age 62, only 50% of the amount withdrawn is taxable.

You have the flexibility to withdraw from your SRS account before the retirement age of 62. However, 100% of the amount withdrawn will be taxable. A 5% penalty will also apply, unless the withdrawal is made under exceptional circumstances such as death or on medical grounds. 

 

 

Note: A withholding tax is imposed on all withdrawals made by foreigners and Singapore Permanent Residents. The amount of tax withheld corresponds to the year’s prevailing withholding tax rate.

Calculator

Calculate how much tax you can save with SRS

 
Your Annual Income S$  
 
Your Personal Tax Relief S$  
 
The amount you want to contribute to SRS S$
 
Reset   Calculate
 

Contribution cap

 

  Singaporeans / Permanent Residents Foreigners
Maximum SRS contribution cap (per year) S$15,300 S$35,700

Note: Total personal tax relief cap of S$80,000 will apply from Year of Assessment 2018 to SRS contributions made on or after 1 Jan 2017. The cap applies to the total amount of all tax reliefs claimed, including any relief on SRS contributions.

Apply Now

To open a UOB-SRS Account

srs-acc

 

Visit any UOB Group Branch

 

To make contribution or top-up your UOB-SRS Account

More Information

Call us at 1800 222 2121

 

Important Notice & Disclaimers:

You may wish to seek advice from a financial adviser before purchasing units in any unit trust (the “Fund”). In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether the Fund in question is suitable for you. Past performance of the Fund or the Manager, and any economic and market trends or forecast, are not necessarily indicative of the future or likely performance of the Fund or the Manager. The value of units in the Fund, and any income accruing to the units from the Fund, may fall or rise. You should note that your investment is exposed to fluctuations in exchange rates if the Base Currency of the Fund and/or underlying investment is different from the currency of your investment. You should read the prospectus, available from Fund Manager or its distributors, before deciding to subscribe for or purchase units in the Fund. Applications for units of the Fund must be made on the application forms accompanying the prospectus. Investments in unit trusts are not obligations of, deposits in, or guaranteed or insured by UOB, Fund Manager or any subsidiary or associate of UOB or any of their affiliates, or by any distributors of the Fund, and are subject to risks, including the possible loss of the principal amount invested.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Buying a life insurance policy is a long term commitment. An early termination of the policy usually involves high costs and the surrender value payable (if any) may be less than the total premiums paid. Investments are subject to investment risks including the possible loss of the principal amount invested. The value of the units, and the income accruing to the units, if any, may fall or rise. This marketing material is for reference only and is not a contract of assurance nor is it intended as an offer or recommendation with respect to the purchase or sale of the products stated herein. The precise terms and conditions, specific details and exclusions applicable to these insurance products stated herein are specified in the respective policy documents. The above is for general information only and does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You are recommended to read the policy documents and to seek advice from a financial adviser with regards to your specific investment objectives, financial situation and any of your particular needs before making a commitment to purchase any insurance products. In the event that you choose not to seek advice from a financial adviser, you should consider carefully whether any of the insurance products is/are suitable for you. In case of inconsistency between the English and Chinese versions, the English version shall apply and prevail. United Overseas Bank Limited does not hold itself out to be an insurer, insurance broker or insurance agent. The insurance products stated herein are provided by Prudential Assurance Company Singapore (Pte) Limited.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$50,000 for each depositor per Scheme member.

This advertisement has not been reviewed by the Monetary Authority of Singapore.

These policies are protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the Life Insurance Association (LIA) or SDIC websites (www.lia.org.sg or www.sdic.org.sg).

This advertisement has not been reviewed by the Monetary Authority of Singapore.