What is the SRS contribution cap?

S$15,300 a year for Singapore Citizens and PRs. The cap on contributions is also the cap on the relief.

When do I get the relief?

In the Year of Assessment after the calendar year you contribute. A contribution made by 31 December counts for the next Year of Assessment.

Are SRS withdrawals taxed?

Withdrawals from the statutory retirement age (64 for contributions starting from 1 July 2026) are 50% taxable. Earlier withdrawals are fully taxable and carry a penalty.

Does the personal relief cap affect SRS?

Yes. SRS relief counts towards the S$80,000 cap on all personal reliefs in a Year of Assessment; the calculator applies it.

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🇸🇬 Singapore · SRS

SRS tax relief calculator

Enter your income and your SRS contribution, and see the income tax it could save.

7-day free trial · Not financial advice

Your numbersDrag, click anywhere on a bar, or tap a number to type it

Gross salary a year

SRS contribution this year

Maximum S$15,300 a year

Age this year40

Estimated income tax saving this year

S$1,759on S$15,300 paid in

Income tax withoutS$5,627a year

Income tax withS$3,868a year

Cost after the savingS$13,541a year

Estimate for a tax-resident Singapore Citizen or PR employee: Earned Income Relief and CPF relief included, no other reliefs or rebates.
Illustration, not financial advice. Investments can fall as well as rise.

Move any slider: the figure above updates as you drag.

S$1,759 saved

Estimated income tax saving this year · Illustration, not advice

How SRS tax relief works

Cash you pay into a Supplementary Retirement Scheme (SRS) account in a calendar year is claimed as a relief in the following Year of Assessment: it comes off your assessable income before the resident tax rates apply. The rates run from 0% on the first S$20,000 of chargeable income to 24% at the top, so the saving depends on the band the relief removes income from.

For Singapore Citizens and Permanent Residents the yearly contribution cap, which is also the relief cap, is S$15,300. Foreigners have a higher cap, which this calculator does not model. All personal reliefs together are capped at S$80,000 a year.

SRS is voluntary and separate from CPF: you choose whether to pay in, how much up to the cap, and how the money is invested. Relief is given only on cash actually contributed in the calendar year.

What this calculator assumes

It runs Moola's Singapore tax engine twice, once without and once with your SRS contribution, and shows the difference. It assumes a tax resident who is a Citizen or PR, employed with the same pay each month. It includes Earned Income Relief (S$1,000 below age 55, more from 55) and CPF relief on your mandatory employee CPF, and holds the SRS contribution to S$15,300.

Other reliefs (spouse, child, parent, course fees, CPF cash top-ups) and one-off rebates are not included, so your own figure may be lower. It is an estimate, not tax advice.

SRS tax relief questions

What is the SRS contribution cap?: S$15,300 a year for Singapore Citizens and PRs. The cap on contributions is also the cap on the relief.
When do I get the relief?: In the Year of Assessment after the calendar year you contribute. A contribution made by 31 December counts for the next Year of Assessment.
Are SRS withdrawals taxed?: Withdrawals from the statutory retirement age (64 for contributions starting from 1 July 2026) are 50% taxable. Earlier withdrawals are fully taxable and carry a penalty.
Does the personal relief cap affect SRS?: Yes. SRS relief counts towards the S$80,000 cap on all personal reliefs in a Year of Assessment; the calculator applies it.