SRS Investments

PruCorgi

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In your opinion or experience, what are some current, better-performing SRS investment options?

Some background info below but it's dated 2009:
Save more money with SRS

Edit:
Personally don't use SRS because I don't want to be locked in till retirement age, but maybe some people here might point out something I might have missed.
 
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iCuteCube

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Well, all the info is more or less in the article.

The best benefit is can save money from tax, and if money of investment is a lot, can spread over 10 years to draw out max amount without having the amount taxed. I forgot what amount is it, but considering if you don't need the money till you retire, it is a win-win situation.

Worst to worst, draw out and pay a certain %, i think is 5% and need tax.
 

dumboy

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I read somewhere that SRS can be used to buy life insurance. So instead of using cash to pay for premiums, can the SRS be used for paying premiums? If can be done, then I think SRS pretty worth the go to reduce taxes.

Gotta act fast if want to open an account for SRS to qualify for this year's tax relief. Year end coming, and the banks need some lead time to open the account.
 

FP_IFA

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I read somewhere that SRS can be used to buy life insurance. So instead of using cash to pay for premiums, can the SRS be used for paying premiums? If can be done, then I think SRS pretty worth the go to reduce taxes.

Gotta act fast if want to open an account for SRS to qualify for this year's tax relief. Year end coming, and the banks need some lead time to open the account.

Yes. For eg. SRS can be used to buy the NTUC Growth plan which in turn gives about 2-4% return for 11 years plan.
 

PruCorgi

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AFAIK, it's only single premium insurance (lump-sum or recurrent single premium
) that can be bought using SRS, right?

Anyway, my question isn't so much pros/cons of SRS, but more of, anyone here actually use SRS.... and if you do, what do you invest in and has it been good so far?

Thanks in advance.
 

lzydata

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Anyway, my question isn't so much pros/cons of SRS, but more of, anyone here actually use SRS.... and if you do, what do you invest in and has it been good so far?

SRS is just a "container" for investments. Other than regular premium insurance products, pretty much anything you can invest with cash, you can invest with SRS funds. Stocks, ETFs, unit trusts, bonds, gold (UOB only), even fixed deposits and cash.
 

Majestic12

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AFAIK, it's only single premium insurance (lump-sum or recurrent single premium
) that can be bought using SRS, right?

Anyway, my question isn't so much pros/cons of SRS, but more of, anyone here actually use SRS.... and if you do, what do you invest in and has it been good so far?

Thanks in advance.

The question of good or not is irrelevant since the instruments are independent of the vehicle, be it cash or SRS.

Other than Regular Premium and Real Estate, SRS funds can be used for everything else.
 

hanneng

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You can download tax calculator from IRAS (excel file)

for example, if a person annual income is 50K, the tax payable is $515 ($50K - $10K CPF - $1K Earned Income Relief).


if this person contribute $12750 SRS, the tax payable is reduced to $125.

This save you $390 income tax which translate to saving of 3% .


Also, I usually use SRS fund to buy dividend stock that can earn at least 5%.
 

neanea

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You can download tax calculator from IRAS (excel file)

for example, if a person annual income is 50K, the tax payable is $515 ($50K - $10K CPF - $1K Earned Income Relief).


if this person contribute $12750 SRS, the tax payable is reduced to $125.

This save you $390 income tax which translate to saving of 3% .


Also, I usually use SRS fund to buy dividend stock that can earn at least 5%.

Does the bank charge you using srs to buy stocks ?
 

huige

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You can download tax calculator from IRAS (excel file)

for example, if a person annual income is 50K, the tax payable is $515 ($50K - $10K CPF - $1K Earned Income Relief).


if this person contribute $12750 SRS, the tax payable is reduced to $125.

This save you $390 income tax which translate to saving of 3% .


Also, I usually use SRS fund to buy dividend stock that can earn at least 5%.

What are the stock that normally can earn 5% dividends? SingTel?
 

PruCorgi

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Thanks HannEng,

Your answer is exactly what I'm looking for. Precisely because there are so many choices, it helps to get some ideas... a lump sum of $12K+ isn't really that big an amount investment-wise.
 

Vincent_G

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You can download tax calculator from IRAS (excel file)

for example, if a person annual income is 50K, the tax payable is $515 ($50K - $10K CPF - $1K Earned Income Relief).


if this person contribute $12750 SRS, the tax payable is reduced to $125.

This save you $390 income tax which translate to saving of 3% .


Also, I usually use SRS fund to buy dividend stock that can earn at least 5%.
Do you really want to put almost 25% of your income to SRS??
 

singaporesiborwatch

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SRS investements

SRS monies can be invested in a good mutual fund, stocks or endowment insurances like NTUC Growth Plan, which has a minimum guaranteed return of about 1% p.a. (which is about 10-20x higher than SRS or bank interest rates).
 

skymusic72

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I have topped up twice over the past 2 years. Now over 24k in SRS account. Vested account with Sabana industrial reits.
 

limchooc

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I have accumulated $50K in my SRS account, partly due to the refund of Capital Plus that I invested in couple year back. :s22:

Was at POSB to make SRS contribution before end of year 2012. The bank advice me to look into invest in NTUC Income's SAIL plan. This is a single premium plan that will give monthly income after your retirement.

Is this a good product for SRS investment ? :s11:
 

myhyip4me

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I have topped up twice over the past 2 years. Now over 24k in SRS account. Vested account with Sabana industrial reits.

How to buy stock via SRS accout?

Another question, let's say I have 10k in SRS, i used up 3k for investment, so the tax saving is 10k or 7k? :s11:
 
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