Stretching your dollar with an SRS account

DBS's Ms P'ing Lim suggests people with disposable income who want to grow their retirement savings start an SRS account.
DBS's Ms P'ing Lim suggests people with disposable income who want to grow their retirement savings start an SRS account.
UOB's Ms Chung Shaw Bee encourages customers to plan early for retirement to benefit from the compounding effect of time.
UOB's Ms Chung Shaw Bee encourages customers to plan early for retirement to benefit from the compounding effect of time.
OCBC's Mr Vasu Menon advises customers to identify how much risk they are willing to take before investing.
OCBC's Mr Vasu Menon advises customers to identify how much risk they are willing to take before investing.

Besides benefiting from tax savings, account holders can potentially reap capital gains

It's that time of the year when the three local banks roll out incentives to encourage you to set up a Supplementary Retirement Scheme (SRS) account or to boost your balances if you are already signed up.

Going down the SRS route makes a lot of financial sense.

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A version of this article appeared in the print edition of The Sunday Times on October 21, 2018, with the headline 'Stretching your dollar with an SRS account'. Print Edition | Subscribe