Quick Answer
The saving follows your chargeable income and how much relief room you have left. In the example, an eligible S$8,000 contribution saves S$920. Chargeable income falls from S$100,000 to S$92,000, and tax falls from S$5,650 to S$4,730. This assumes you have enough relief room. It is a one-off tax cut, not a yearly return.
The Useful Number: In the example, an eligible S$8,000 contribution saves S$920 in tax. This assumes you have enough personal relief room left.
Which Income Figure Should You Start With?
Enter your chargeable income (income after other reliefs, which tax is charged on) before the Supplementary Retirement Scheme (SRS) contribution you are testing. Gross salary makes the saving look too big.
Pick your yearly cap: S$15,300 for Singapore Citizens and PRs, or S$35,700 for foreigners. Relief is also capped at the room you have left: S$80,000 minus your other reliefs. The tool does not check earlier contributions or prorated limits.
Only money paid into SRS by 31 December counts for the next Year of Assessment (YA): pay by 31 December 2026 to cut your YA 2027 tax. Your bank may close a few days earlier.
How Much Does An S$8,000 Contribution Save?
On S$100,000 of chargeable income, tax is S$5,650. An eligible S$8,000 contribution brings chargeable income to S$92,000 and tax to S$4,730, a saving of S$920.
That is 11.5% of the contribution: a one-off tax cut under these assumptions, not a yearly investment return or money paid into your SRS account.
Try Your Numbers
Your Tax Saving From An SRS Contribution
Uses the Citizen/PR SRS cap of S$15,300. Relief room starts at S$80,000, which assumes no other reliefs.
Tax Saved, Before Rebates
S$920
- Tax Before The Contribution
- S$5,650
- Tax After The Contribution
- S$4,730
Rough estimate. See the full tool for assumptions.
What Relief And Withdrawal Rules Still Apply?
Only test an amount within the contribution and relief limits you have left. Tax residency, past contributions and eligibility can change the real benefit.
Qualifying withdrawals from the statutory retirement age that applied at your first SRS contribution get a 50% tax concession, so only half is taxed. Early withdrawals are usually fully taxed, plus a 5% penalty, with some exceptions. The tool does not model withdrawal tax.
- Pay In By 31 December 2026: Your bank may close a few days earlier. The yearly cap is S$15,300 for Citizens and PRs, S$35,700 for foreigners.
- YA 2027: Lower Tax: Relief comes off chargeable income, within your room under the S$80,000 cap.
- Statutory Retirement Age: The age that applied when you made your first contribution. From then, qualifying withdrawals are only 50% taxed.
Sources checked and . Source: IRAS — SRS contributions and tax relief; IRAS — tax reliefs; IRAS — SRS Withdrawals.
Can You Spare The Money?
First cover bills due soon and your emergency fund. Compare access limits, what you plan to invest in and future tax in the CPF Top-Up vs SRS vs Invest guide. Check the contribution with your SRS operator and IRAS before you act.
Quick Check
Three statements from this guide. Tap True or False to check what you have read. Nothing is saved.
Card 1 Of 3
Enter your gross salary as the income figure.
Why? Card 1 Of 3
Use the figure before the SRS contribution you are testing. Gross salary can make the saving look too big.
Card 2 Of 3
An eligible S$8,000 contribution on S$100,000 of chargeable income saves S$920 in tax.
Why? Card 2 Of 3
That is 11.5% of the contribution, as a one-off tax cut, not a yearly investment return. It assumes you have enough relief room left.
Card 3 Of 3
Money paid into SRS in January 2027 cuts your YA 2027 tax.
Why? Card 3 Of 3
Pay by 31 December 2026 to cut your YA 2027 tax. Your bank may close a few days earlier.
Your Score
Try It With Your Numbers
Open the calculator with this guide’s example filled in. Then change the numbers to match your situation.
Open SRS Optimiser →Frequently Asked Questions
What Income Should I Enter In The SRS Optimiser?
Enter chargeable income after your other reliefs, but before the SRS contribution you are testing.
Gross salary can make the saving look too big. For relief room, subtract your other reliefs from S$80,000. The S$80,000 default assumes you have no other reliefs.
What Is The SRS Contribution Cap?
The standard cap is S$15,300 for Singapore Citizens and PRs, and S$35,700 for foreigners.
The calculator caps your contribution at the limit you pick. It does not check earlier SRS contributions or prorated yearly limits, so check those separately.
Try SRS Optimiser →Is The SRS Saving The Same As A Return On My Money?
No.
In the example the saving is 11.5% of the contribution, but it is a one-off tax cut under these assumptions. It is not a yearly investment return or money paid into your SRS account.
What Happens When I Withdraw From SRS?
Qualifying withdrawals at retirement get a 50% tax concession, so only half is taxed.
The retirement age used is the statutory age when you made your first SRS contribution. Early withdrawals are usually fully taxed, plus a 5% penalty, with some exceptions. The tool does not model withdrawal tax or those exceptions.
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Year-End Tax, SRS And CPF Top-Up Checklist. What to do by 31 Dec 2026 to cut your YA 2027 tax bill.
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Sources & Assumptions
Sources checked 12 October 2026. These are examples only. Check the stated assumptions and limits before you use a result.
Estimate only. Uses resident tax bands from YA 2024 onwards, before rebates. Relief is capped by the SRS cap you pick and the relief room you enter. Check contributions already made this year and prorated limits separately. Contributions in 2026 usually affect YA 2027.