The SRS complements the Central Provident Fund (CPF). CPF savings are meant to provide for housing and medical needs and for basic living needs after retirement. Unlike the CPF scheme, participation in SRS is voluntary. Participants can contribute a varying amount to SRS (subject to a cap) at their own discretion. The contributions may be used to purchase various investment instruments.

With the SRS, the government hopes to encourage Singaporeans to save more for their old age, by means of voluntary contributions to their SRS accounts. The SRS will be effective from 1st April 2001. It will be operated by the private sector.

The SRS offers attractive tax benefits. Contributions to SRS are eligible for tax relief, investment returns are accumulated tax-free (with the exception of Singapore dividends), and only 50% of the withdrawals from SRS are taxable at retirement.

Source: Ministry of Finance

If you would like to find out more about SRS Scheme you can log on to the Ministry of Finance Website http://www.mof.gov.sg/ or contact any of the 3 SRS operators.

• DBS Group Holdings Ltd
• Overseas-Chinese Banking Corporation (OCBC) Ltd
• United Overseas Bank (UOB) Ltd

• are at least 18 years old;
• are not undischarged bankrupts; and
• are not of unsound mind

To pay for your investment using your Supplementary Retirement Scheme (SRS) account, simply select SRS as the payment method when placing your order on FSM Global.

Once your order is placed, FSM Global will submit the contract details directly to your chosen SRS operator bank. The bank will then deduct the payment from your SRS account. You do not need to transfer funds to FSM Global separately, the payment will be processed via your SRS operator bank.

*Do ensure that there are sufficient funds in your SRS account.