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Pay attention to withdrawal timing from Supplementary Retirement Scheme
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Penalty-free withdrawals can commence at or after the prescribed retirement age.
PHOTO: ST FILE
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The Supplementary Retirement Scheme (SRS) encourages individuals to save for retirement, over and above their CPF savings.
Contributions are eligible for tax relief. The maximum contribution by Singapore citizens and permanent residents is $15,300 a year, while foreigners can put in $35,700.
