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About SRS accounts

• Can I invest all the funds in my SRS bank account?

  Yes, you can invest all the available funds in your SRS bank account. To check your SRS balance, log in to the mobile app or the website of the bank where you opened your SRS bank account. If you don't have an SRS bank account and would like to open one, please click here to learn more. 

  Please note that while there is a cap on the yearly contributions to your SRS bank account based on your Singapore residential status, you can still invest more than the annual contribution limit. For example, as a foreigner, the maximum contribution for 2024 is S$35,700. However, for example, if you or your employer have been contributing to your SRS bank account over the years and your balance is S$100,000, you can choose to invest the full S$100,000 in 2024, not just the S$35,700.

  Keep in mind that funds in your SRS bank account only earn 0.05% p.a. if not invested. To explore ways to boost your retirement savings, click here to learn more about Syfe.

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• How much can I contribute to SRS?

  The yearly maximum SRS contribution that can be made by Singapore Citizens/Singapore Permanent Residents is S$15,300 and by foreigners is S$35,700. To check the contributions made to your SRS bank account, you may either log in to the Mobile app or the website of the bank where you opened your SRS bank account. Contributions can be made to your SRS account any time.

   

  Keep in mind that funds in your SRS bank account only earn 0.05% p.a. if not invested. To explore ways to boost your retirement savings, click here to learn more about Syfe. 

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• What are the advantages of contributing to SRS?

  At a glance, here are the advantages of contributing to SRS.

  1. More savings to draw on when you retire
  2. Enjoy tax savings for every dollar saved into your SRS bank account.

  You can make your SRS funds work even harder by investing them to accumulate tax-free gains in the SRS bank account. Unless invested, funds in your SRS bank account only earn 0.05%p.a. Learn how you could boost your retirement savings with Syfe here. 

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• How can I find my SRS bank account number?

  In order to link your SRS bank account with Syfe, you would need to provide us your SRS bank account number. To find your account number, you may either log in to the Mobile app or the website of the bank where you opened your SRS bank account. This would be either DBS/POSB, OCBC or UOB.

  If you do not have an SRS bank account and would like to open one - please click here. 

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• How do I open an SRS bank account?

  You can open an SRS account with any of the 3 agent banks :

  • DBS Group Holdings Ltd
  • Overseas-Chinese Banking Corporation (OCBC) Ltd
  • United Overseas Bank (UOB) Ltd

  If you are an existing client of these banks, you may open an account just from the bank’s mobile app or click on the links above. If you are new to these banks, you may need to approach the bank for further details. Please note, you can only have 1 SRS bank account at any point in time.

   

  Eligibility Criteria

  You are eligible to open an SRS bank account if you are a Singapore Citizen, a Singapore Permanent Resident (SPR) or a foreigner with a valid pass and: 

  1. Are at least 18 years of age;
  2. Are not an undischarged bankrupt;
  3. Are not having a mental disorder; and are capable of managing yourself and your affairs.
  4. Do not previously have an SRS bank account with the same or another SRS operator and all the moneys in the account had been withdrawn -
     1. On medical grounds; or
     2. On or after reaching the statutory retirement age prevailing at the time of your first contribution.

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