Retirement is more than just a phase of life — it’s a time to enjoy the fruits of your labour and live the life you’ve always dreamed of. By taking advantage of the Supplementary Retirement Scheme (SRS), you can grow your wealth while enjoying tax savings now and in the future.
Investing in a SRS-eligible insurance plan not only ensures a comfortable retirement but also provides the protection and peace of mind you deserve. With the right plan, you can take control of your financial future, build a strong retirement fund, and live confidently, feeling prepared for whatever comes next.
Benefits of adding SRS to your retirement deck
Enjoy tax reliefs
Every dollar you contribute to your SRS account is eligible for tax relief. The more you contribute, the more you save on taxes. Each year, the annual SRS contribution cap is up to S$15,300 for Singapore Citizens and Permanent Residents, and up to S$35,700 for foreigners1.
Grow your funds with tax-free1 investment returns
SRS account is designed to help you prepare for your retirement through savings and investment options. By investing your SRS funds into various SRS-approved instruments, such as Fixed Deposits, Bonds, or Single Premium Insurance Saving Plans2, you can potentially earn better returns to keep pace with inflation.
Flexibility of withdrawal and tax concession1,3
You can make penalty-free withdrawals from your SRS account from the age of 63, with the flexibility to spread out your withdrawals over a period of up to 10 years.
Gain tax concession during your retirement years as only 50% of the withdrawals are taxable after retirement age. Spreading out your withdrawals over the 10 years could potentially result in greater tax savings. This can be particularly advantageous for managing your tax liabilities in retirement.
Supercharge your savings with SRS-Eligible Insurance Plans
Did you know SRS cash funds only earn 0.05% p.a. return?
Yet as much as S$3.5 billion2 of SRS funds are lying in idling cash. Make your money work for you in more ways than one, boost your savings growth, protect your savings and provide coverage for the future.
Choose from our range of SRS-eligible insurance plan, such as PRUActive Saver III, PRUActive Retirement II, and PRUWealth Plus (SGD) to grow and protect your SRS savings.
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Build your golden nest egg with Supplementary Retirement Scheme (SRS)
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Disclaimer :
This article is for your information only and does not consider your specific investment objectives, financial situation or needs. We recommend that you seek advice from a Prudential Financial Representative before making a commitment to purchase a policy.
Important Notes
You are recommended to read the product summary and seek advice from a qualified Prudential Financial Representative for a financial analysis before purchasing an insurance policy suitable to meet your needs.
As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid.
The information contained herein is for reference only and is not a contract of insurance. Please refer to the exact terms and conditions, specific details, and exclusions applicable to these insurance products in the policy documents that can be obtained from your Prudential Financial Representative.
The information contained herein is for distribution in Singapore only and shall not be construed as an offer to sell or solicitation to buy or provision of any insurance product outside 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 GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
The information presented cannot be reproduced, amended or circulated in whole or in part to any other person without our prior written consent.
Information is correct as of 1 May 2026.
This advertisement has not been reviewed by the Monetary Authority of Singapore.