SRS Portfolio

[lzydata]

Hi,

I used my SRS to purchase SGX shares using vickers.

Any idea when I reached retirement age(62), what do I need to do in order to retain the shares?

TIA

You can apply to your SRS operator to transfer the investments to your CDP account as an alternative to liquidating them. See the FAQ here:

https://www.mof.gov.sg/schemes/individuals/supplementary-retirement-scheme

 

[camholicx]

Just to check, if I put $ into my SRS account now. Am I still eligible for the April income tax rebate?

 

[lzydata]

Just to check, if I put $ into my SRS account now. Am I still eligible for the April income tax rebate?

Nope, to qualify for tax relief in April, you had to make your SRS contribution in the calendar year 2021. But you will qualify for next year's tax assessment.

 

[camholicx]

Thanks. Is there charges for every deposit to SRS account? I intend to deposit 200 monthly.

 

[reddevil0728]

Thanks. Is there charges for every deposit to SRS account? I intend to deposit 200 monthly.

No.

 

[camholicx]

How do I report for Tax relief, everytime when I put $ into SRS account?

 

[BBCWatcher]

Thanks. Is there charges for every deposit to SRS account? I intend to deposit 200 monthly.

The SRS operators don't charge for cash deposits. Charges may apply when you invest the funds.

How do I report for Tax relief, everytime when I put $ into SRS account?

You have nothing to do. Your SRS operator automatically reports your SRS contributions to IRAS. Just check your IRAS Income Tax Notice of Assessment to make sure it includes all your SRS deposits for the prior calendar year.

 

[xorionn]

Btw whats the ideal % mix for 25k SRS for shares, S27, STI ETF, UTs, funds, insurance endowment or robo advisor?

 

[elvintay07]

Btw whats the ideal % mix for 25k SRS for shares, S27, STI ETF, UTs, funds, insurance endowment or robo advisor?

Why need to split like that? If you want robo, just do global portfolio. You got a bit of this and that. For me, I do FSSA dividend advantage and Infinity Lion Global S&P500. Enough already la. The rest all waste time. Invest till age 62

 

[celtosaxon]

Btw whats the ideal % mix for 25k SRS for shares, S27, STI ETF, UTs, funds, insurance endowment or robo advisor?

SRS should be just one part of your investment portfolio. You need to think of it as one cog in your investment wheel and figure out which investments are best suited for the SRS money.

Start with any investments you have that are SGX listed — you will definitely want to use SRS money for those — the fees are the same, SRS or not.

If you currently have any non-SRS money invested in SGX listings, sell those and repurchase them with SRS money. You can then redeploy that cash to invest in things that are off limits to SRS, like VWRA… which is far better than getting ripped off in some UT or Robo.

 

[Kojo0403]

Btw whats the ideal % mix for 25k SRS for shares, S27, STI ETF, UTs, funds, insurance endowment or robo advisor?

i have gone for 30% S27, 30% TID+HST, 20% STI, 15% CLR (S-REIT) and 5% GSD (Gold)

obviously my TID and HST got quite a bit of hit recently. so most of my top up this year will go into allocating then to bring it back to 30% level.

 

[spectrearc]

srs i usually just throw into reit or etf (s&p, dow jones etc)

anyone know if it's possible to invest off the banks that administer srs, the min fee on trading is quite chor

 

[kickass22]

Which brokerage account is best to buy S27? using SRS funds

Appreciate your reply.

I currently have FSM which does not allow SRS for S27

 

[iceblendedchoc]

Which brokerage account is best to buy S27? using SRS funds

Appreciate your reply.

I currently have FSM which does not allow SRS for S27

I use poems

 

[tour_de_forcez]

I use poems

Trying the same, but POEMS UI is quite complex. What do you put as the settlement currency? SGD or USD?

 

[Nofear40]

I read that there is a 30% withholding tax requirement for S27?

 

[reddevil0728]

I read that there is a 30% withholding tax requirement for S27?

Cause it’s a U.S. stock. For dividends specifically.

 

[dgeralds]

Trying the same, but POEMS UI is quite complex. What do you put as the settlement currency? SGD or USD?

SGD

 

[dgeralds]

Which brokerage account is best to buy S27? using SRS funds

Appreciate your reply.

I currently have FSM which does not allow SRS for S27

No minimum commission rates for SGX-listed ETFs are applicable for all POEMS Trading Accounts from 3 Feb 2022 to 30 Jun 2022. For standard rates, please refer to the respective account pricing. This promotion is only applicable for ONLINE trades traded through POEMS suite of platforms available on SGX listed ETFs.

https://www.poems.com.sg/no-minimum-commission-sgx-listed-etfs/

 

[dgeralds]

Hi All

Have a SRS query:

Im 56 this year have about $146K in SRS. I plan to work until 65 years old; and during this period I don't intend to withdraw from SRS as it will not benefit me tax wise. Post 65, I will earn about at least 30K income annually.

Given my scenario, should I continuation to make SRS contribution now?

If I withdraw my entire SRS monies (at one go) at 73 years old, will it be taxed or will t be tax free?

Thank you.