SRS Investments

[royalmix]

Almost 1/3 of SRS money is idle fund

why, people dont know what to do with it?

 

[Xasteria]

depends on your broker. For OCBC Securities I called their customer service hotline to do it but they mentioned email is acceptable too.

I emailed my iOCBC broker to link for me recently.

 

[henrylbh]

why, people dont know what to do with it?

Can say one third joined just get a one time tax benefit and then let money rot and earning next to nothing. That's a sin in the long run. But may be without joining SRS, , they would also probably leave money idle. The banks benefit most with funds that are stuck with them for a very long time - much much better than any long term FDS offered to the market.

 

[linusz]

Srs can only go thru regular online brokerage right. And not scb. Can confirm?

Sent from Samsung SM-N9005 using GAGT

 

[jingle_babble]

is there any SRS eligible FD like 5yr tenure out there? its a joke when my company totally ban stock trading for employee

 

[koreanlover]

Almost 1/3 of SRS money is idle fund

Wah quite a lot idle.

 

[badsector]

is there any SRS eligible FD like 5yr tenure out there? its a joke when my company totally ban stock trading for employee

DBS allows FD using SRS fund.
UOB and OCBC should have too

 

[dkgamer]

is there any SRS eligible FD like 5yr tenure out there? its a joke when my company totally ban stock trading for employee

so extreme? thats crazy.

 

[dkgamer]

Can say one third joined just get a one time tax benefit and then let money rot and earning next to nothing. That's a sin in the long run. But may be without joining SRS, , they would also probably leave money idle. The banks benefit most with funds that are stuck with them for a very long time - much much better than any long term FDS offered to the market.

Top tier tax save 22% of tax when they put in SRS. that is deferred till they withdraw at retirement. a very good deal if you ask me. if put funds in bonds or FD, thats an incentive.

They can withdraw up to 48k per year after retirement and the funds will not get taxed.

 

[neanea]

Where did it say 48k per year no tax?

Top tier tax save 22% of tax when they put in SRS. that is deferred till they withdraw at retirement. a very good deal if you ask me. if put funds in bonds or FD, thats an incentive.

They can withdraw up to 48k per year after retirement and the funds will not get taxed.

 

[badsector]

Where did it say 48k per year no tax?

should be a typo.

it's withdraw 40k per yr tax-free

 

[dkgamer]

Where did it say 48k per year no tax?

Ps should be 40k.
Only 50% ofwithdrawals are taxed. First 20k income is not taxable.

 

[xiao.xin]

is there any SRS eligible FD like 5yr tenure out there? its a joke when my company totally ban stock trading for employee

Great Eastern do have 5 year savings program for 5 years tenure at 2.3% irr

 

[neanea]

Great Eastern do have 5 year savings program for 5 years tenure at 2.3% irr

Ge plans are lousy

 

[Zopizz]

DBS allows FD using SRS fund.
UOB and OCBC should have too

Which FD is Dbs offering?

 

[limpoop]

Great Eastern do have 5 year savings program for 5 years tenure at 2.3% irr

you got link?

 

[what88]

is there any SRS eligible FD like 5yr tenure out there? its a joke when my company totally ban stock trading for employee

Most of the companies will do that as they want their employees concentrate on the work.

We even cannot access web base mail..

 

[henrylbh]

Top tier tax save 22% of tax when they put in SRS. that is deferred till they withdraw at retirement. a very good deal if you ask me. if put funds in bonds or FD, thats an incentive.

They can withdraw up to 48k per year after retirement and the funds will not get taxed.

You think those at 22% tax rate will retire at 62 or 65? You think they have no other taxable passive income after 62 or 65? You think they are accustomed to spending 48k a year when they are already paying about 45k tax at 22%?

 

[xiao.xin]

Ge plans are lousy

The plans are only lousy if is not something that youre looking for. A course in the university is only lousy when you've no interest in the subject.

you got link?

I couldnt find the product link online, but is just a simple 5 year capital guaranteed savings plan for limited time.

 

[BBCWatcher]

is there any SRS eligible FD like 5yr tenure out there?

The 5 year bond (N517100F) will go on sale in March, 2017. There's a 10 year bond (NZ07100S) available for sale next month (February, 2017).

You're much better off with a 5 or 10 year bond instead of a 60 month or 120 month Fixed Deposit. Yes, every SRS custodian allows buying original issue SGSs (what I'm recommending instead of Fixed Deposits), and most if not all allow buying/selling SGSs on the secondary market (not what I recommend, but probably still better than FDs).

Singapore Government Securities are backed by the full faith and credit of the AAA-rated Singapore government, no matter how much of them you hold. (There is no $50K SDIC limit.) It's the safest possible asset you can hold in a SRS, and it happens to offer better yields than a bank FD.