Singapore SRS Calculator: Supplementary Retirement Scheme Growth
Estimate what a Singapore SRS (Supplementary Retirement Scheme) grows to from regular contributions invested at a steady return — the voluntary scheme that gives a dollar-for-dollar tax deduction on contributions.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year growth schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Future value | Total contributions | Total interest earned |
|---|---|---|---|
| $1,000/mo · 5% · 20yr | $411,033.67 | $240,000.00 | $171,033.67 |
| $1,275/mo · 5% · 15yr (~citizen cap) | $340,793.40 | $229,500.00 | $111,293.40 |
| $50k + $2k/mo · 6% · 10yr | $418,728.53 | $290,000.00 | $128,728.53 |
| $500/mo · 4% · 25yr | $257,064.77 | $150,000.00 | $107,064.77 |
How This Calculator Works
Enter your current SRS balance, monthly contribution, the return you expect, and the years contributing. The calculator compounds the balance monthly and shows the projected value and the growth. SRS contributions are deductible from your taxable income (up to the annual cap), the invested gains accumulate tax-free, and only 50% of withdrawals at retirement are taxable.
The Formula
Future Value with Regular Contributions
P = starting amount, PMT = monthly contribution, r = monthly rate (annual ÷ 12), n = number of months
Worked Example
$1,000 a month for 20 years at 5% grows to about $411,034, with roughly $171,034 of that being growth. The SRS (Supplementary Retirement Scheme) complements Singapore's mandatory CPF. It's voluntary: every dollar you contribute (up to an annual cap) reduces your taxable income that year, the funds can be invested in approved instruments where gains grow tax-free, and at the statutory retirement age only 50% of each withdrawal is taxed — and that taxable half can often be spread over up to 10 years to minimise tax.
Key Insight
The SRS is Singapore's main voluntary tax-relief retirement vehicle, sitting on top of compulsory CPF, and its tax mechanics drive the benefit. Three advantages: (1) contributions are deductible from assessable income up to an annual cap (notably higher for foreigners, who don't contribute to CPF, than for Singapore Citizens and PRs), giving immediate income-tax savings at your marginal rate — most valuable for higher earners; (2) you can invest the SRS balance in approved instruments (unit trusts, shares, bonds, fixed deposits, single-premium insurance), and investment gains inside the SRS accumulate tax-free — crucial, because uninvested SRS cash earns only a token interest rate, so leaving it idle wastes the opportunity; and (3) at withdrawal the tax treatment is favourable — only 50% of the amount withdrawn is taxable, and withdrawals at or after the statutory retirement age (the age prevailing when you made your first contribution) can be spread over up to 10 years, so by staggering you can keep each year's taxable half within low brackets, potentially paying little or no tax. The catch is liquidity and timing: withdrawing before the retirement age generally triggers tax on 100% of the sum plus a 5% penalty, so SRS money should be treated as locked for retirement. There's also a total cap on overall personal income-tax relief in Singapore that can limit the benefit for those already claiming large reliefs. This calculator gives a gross, constant-return projection and omits the contribution cap, fees and withdrawal tax; in practice contribute within the cap to capture the deduction, invest the balance (don't leave it as cash), and plan staggered withdrawals from retirement age to minimise the tax on the taxable half.
Frequently Asked Questions
How is SRS growth calculated?
Your balance and monthly contributions compound at the expected return (annual rate ÷ 12 per month). $1,000/month for 20 years at 5% grows to about $411,034, with roughly $171,034 of growth — assuming you invest the balance, since uninvested SRS cash earns only a token rate.
What is the SRS?
The Supplementary Retirement Scheme — a voluntary scheme complementing Singapore's mandatory CPF. Contributions are tax-deductible up to an annual cap, the balance can be invested with gains accumulating tax-free, and only 50% of withdrawals at retirement age are taxable. It's a key tax-relief tool, especially for higher earners and foreigners.
What's the tax benefit of the SRS?
Contributions reduce your assessable income (up to the annual cap), saving tax at your marginal rate now. Invested gains grow tax-free, and at retirement only 50% of each withdrawal is taxed — and that half can be spread over up to 10 years to keep it in low brackets, potentially paying little tax.
Should I invest my SRS or leave it as cash?
Invest it. Uninvested SRS cash earns only a token interest rate, so leaving it idle wastes the tax-free growth opportunity. You can invest in approved instruments — unit trusts, shares, bonds, fixed deposits, single-premium insurance — and the gains accumulate tax-free inside the SRS account.
What if I withdraw before retirement age?
Early withdrawal generally means 100% of the amount is taxable (not 50%) plus a 5% penalty, so SRS funds should be treated as locked for retirement. Penalty-free, 50%-taxable withdrawals begin at the statutory retirement age that applied when you made your first SRS contribution.
Related Calculators
Methodology & Review
The future value compounds a starting balance plus a fixed monthly contribution at the annual return, compounded monthly. It assumes a constant return and end-of-month deposits, and does not enforce the SRS annual contribution cap, model investment fees, or compute the tax due (on 50% of withdrawals) at retirement.
Written by Ugo Candido · Last updated May 22, 2026.