Retirement Calculator

Your details

Residency status

Assessable income for the year (S$) Other tax reliefs you already claim (S$)

e.g. CPF, earned income, parent, child reliefs. Overall relief cap is S$80,000.

SRS contribution

Result

Estimated tax saved

Chargeable income before SRS
SRS relief applied
Chargeable income after SRS
Tax before SRS
Tax after SRS
Your marginal tax rate

Tax when you withdraw at retirement

After the statutory retirement age, only 50% of each withdrawal is taxed, and you can spread withdrawals over up to 10 years. Only the SRS half adds to your tax; CPF LIFE payouts are tax-free and don't count.

SRS balance at retirement (S$) Other taxable income in retirement (S$ a year)

e.g. rental income, part-time work, annuities. Leave out CPF LIFE payouts.

Withdraw over

Withdrawn per year
Taxable per year (50%)
Extra tax per year from SRS
Total tax on withdrawals

SRS vs CPF top-up

Both cut your tax at the same rate, with separate limits: S$15,300 for SRS and S$8,000 for topping up your own CPF. The difference is what the money earns and when you can get it. Uses your income and reliefs above, the same each year.

Put in each year (S$)

Years to retirement

SRS investment return (% a year)

CPF interest (% a year)

Total benefit is the net balance after tax plus the tax you saved along the way. SRS cash left uninvested earns about 0.05%, so the SRS return only applies if you invest it. CPF pays at least 4% on retirement savings, plus extra interest on your first balances. CPF top-ups get relief only while your balance is below the Full Retirement Sum. SRS withdrawal tax assumes 10 years of withdrawals alongside your other retirement income above.

Estimates only. Uses resident tax rates from YA2024, ignores one-off personal tax rebates, and treats foreigners as tax residents. Withdrawing before retirement age makes 100% of the amount taxable plus a 5% penalty. Confirm figures with IRAS before contributing.