SRS Portfolio

[Nofear40]

Anyone use SRS to buy SSB? Not sure if to br safe or aggressive (I.e to put into stocks)?

 

[adven7]

Anyone use SRS to buy SSB? Not sure if to br safe or aggressive (I.e to put into stocks)?

Just did my first SRS into SSB this month, quite seamless thru local bank internet. SSB is guaranteed by gov and interest rate is reasonable (safe) compare to stock high risk with high return/loss

 

[demoforce1]

I have opened SRS account with OCBC
If I transfer from my OCBC saving to OCBC SRS, how long it will reach, so can use it by stock, my understanding is that it is not immediately, correct?

 

[georgie]

I have opened SRS account with OCBC
If I transfer from my OCBC saving to OCBC SRS, how long it will reach, so can use it by stock, my understanding is that it is not immediately, correct?

i transfer from my dbs ssavings to my dbs srs instant one leh, just like any bank account

 

[duhduhduh]

I have opened SRS account with OCBC
If I transfer from my OCBC saving to OCBC SRS, how long it will reach, so can use it by stock, my understanding is that it is not immediately, correct?

The SRS amount will show upp the next day.

on the transfer screen they will say take 2 days.

e.g i transfer on 14, value on 15;
but on 16 then it came out

 

[demoforce1]

The SRS amount will show upp the next day.

on the transfer screen they will say take 2 days.

e.g i transfer on 14, value on 15;
but on 16 then it came out

with ocbc?

 

[mikeeeey]

Hi guys,

sorry for the noob question.


Planning to do my first SRS contribution soon. #1 reason is for tax relief.
If I put in $15,300 to SRS, the idea is to have a tax relief of this amount.

BUT

IF I put in this amount already and then INVEST it in bonds, is it considered as "Withdrawal" which void the tax relief?

 

[reddevil0728]

Hi guys,

sorry for the noob question.


Planning to do my first SRS contribution soon. #1 reason is for tax relief.
If I put in $15,300 to SRS, the idea is to have a tax relief of this amount.

BUT

IF I put in this amount already and then INVEST it in bonds, is it considered as "Withdrawal" which void the tax relief?

If you invest it through SRS why is it a withdrawal?

 

[epigram]

IF I put in this amount already and then INVEST it in bonds, is it considered as "Withdrawal" which void the tax relief?

It is not considered a withdrawal.

 

[mikeeeey]

If you invest it through SRS why is it a withdrawal?

Thanks for the reply. Well I thought it may be considered as "leaving the SRS account" and hence be considered as withdrawal? But am glad its not considered as such.

It is not considered a withdrawal.

Thank you. Glad to hear.

 

[reddevil0728]

Thanks for the reply. Well I thought it may be considered as "leaving the SRS account" and hence be considered as withdrawal? But am glad its not considered as such.

if that's the case then technically you can't do anything with SRS other than leaving it inside for 0.05% interest rate, which doesn't make sense already

 

[mikeeeey]

if that's the case then technically you can't do anything with SRS other than leaving it inside for 0.05% interest rate, which doesn't make sense already

oh ya ah!!! hahahahaaa ok now i sound stupid.. lol!

 

[maleman]

I have invested part of my SRS in STI ETF. My SRS cutoff age is at 62years.
Does that mean I must sell my SRS STI ETF at age 62, or can I sell it near age 72, since I have 10 years from age 62 to withdraw all my SRS?

I'm asking cos I can't find any info regarding when I should sell all my SRS investments.

 

[lzydata]

I have invested part of my SRS in STI ETF. My SRS cutoff age is at 62years.
Does that mean I must sell my SRS STI ETF at age 62, or can I sell it near age 72, since I have 10 years from age 62 to withdraw all my SRS?

I'm asking cos I can't find any info regarding when I should sell all my SRS investments.

Actually, you can withdraw your investments such as STI ETF by transferring it out of SRS into your CDP, without having to sell it.

Secondly, it is not a hard limit at age 72, but 10 years after your first withdrawal. Hence if you start withdrawals at age 63, the withdrawal period ends at age 73.

See Q25 to 49 for more:
https://www.mof.gov.sg/docs/default...dab847f78b5cfb6919b476b2.pdf?sfvrsn=1eb3f7c_2

 

[maleman]

Actually, you can withdraw your investments such as STI ETF by transferring it out of SRS into your CDP, without having to sell it.

Secondly, it is not a hard limit at age 72, but 10 years after your first withdrawal. Hence if you start withdrawals at age 63, the withdrawal period ends at age 73.

See Q25 to 49 for more:
https://www.mof.gov.sg/docs/default...dab847f78b5cfb6919b476b2.pdf?sfvrsn=1eb3f7c_2

Thanks very much for pointing me in the right direction and clarifying the 10years period.
Still learning the very many rules.

 

[Lucky_Farmer]

Hi guys, i am looking to open my first SRS account.
Which custodians (Endowus, OCBC, UOB and DBS) are you guys keeping your SRS account?
What do you do with the cash in such account in the current environment? All in STI ETF? I am in my mid 30s and still have quite a long way to go before retirement.

 

[bearkia]

Hi guys, i am looking to open my first SRS account.
Which custodians (Endowus, OCBC, UOB and DBS) are you guys keeping your SRS account?
What do you do with the cash in such account in the current environment? All in STI ETF? I am in my mid 30s and still have quite a long way to go before retirement.

You can choose between the three (OCBC, UOB and DBS). Some of them have opening promotion, you can check them out at another thread ([SIC] SRS Top-up 2022). Endowus is not a SRS account provider bank.

 

[Bam25th]

Hi guys, i am looking to open my first SRS account.
Which custodians (Endowus, OCBC, UOB and DBS) are you guys keeping your SRS account?
What do you do with the cash in such account in the current environment? All in STI ETF? I am in my mid 30s and still have quite a long way to go before retirement.

Any of the banks will do. You can compare the fees, and which bank u have an existing account with, so it will be more convenient to do the transfers.

I park all my SRS money with SSB since it’s currently high. Will revisit again 10 years later when the SSB expires….

 

[imjayson]

i placed a SRS oder on POEMS cash plus. any one knows how long does it take for SRS to be "settled" and the cash to be returned?

 

[bearkia]

i placed a SRS oder on POEMS cash plus. any one knows how long does it take for SRS to be "settled" and the cash to be returned?

For usual unit trust, sell order would take T+5 business days to get back to SRS. But I hv no experience with cash plus directly.