Here’s one of the best-kept secrets in Singapore – you can lower your tax bill by using the Supplementary Retirement Scheme (SRS). The SRS is a voluntary savings scheme that encourages you to save for retirement while reducing your taxable income. For Singaporeans and PRs, you can claim up to S$15,300 in income tax relief when you contribute to your SRS account. However, funds in your SRS account will only earn an interest of 0.05% per annum. This has led many to ask – what are some investment options we can consider with our SRS funds?
What are your ETF investment options for SRS funds?
If you have been investing with your CPF funds, you may have realised that you can only invest in a short list of government-selected ETFs. However, you can choose from the entire suite of SGX-listed ETFs when investing with your SRS funds. In…