Invest your Retirement Funds
Investment Linked Plans (Cash/SRS)
Not sure how SRS funds work? Check out our FAQ below.
Not sure how SRS funds work? Check out our FAQ below.
If you are planning for your retirement, you may want to consider investing in WealthLink, #goElite Secure or #goElite to grow your returns. This flexible plan can even pay out the dividends from the underlying investments so that you can enjoy a steady stream of income throughout the plan. *
WealthLink, #goElite Secure or #goElite give you flexibility are designed specifically to maximise your tax benefits from your SRS account. #goElite Secure even protects your downside risk with a high watermark locked-in value feature for the death benefit in your policy.
After investing a single premium in WealthLink, #goElite Secure or #goElite, you will benefit from investing in the capital markets and can benefit from downside risks (#goElite Secure). Invest by cash if you wish to receive the dividends from the policy, otherwise the dividends will be reinvested in the policy if you invest by SRS.
|Only Single Premium terms are acceptable for SRS Funds (check out Participating SRS retirement plans here)|
High Watermark Locked-in Value
The peak account value at every monthiversary is Locked-in to protect against volatile market trends. The highest monthly watermark recorded throughout the Policy is Locked-in to deliver maximum death benefit.
This feature is further explained below.
Funds for both #goElite and #goElite Secure
Global Equity Fund
Global Bond Fund
Asian Bond Fund
Asian Equity Fund
Asia Managed Fund
Money Market Fund
Asian Income Fund
Global Income Fund
Asia Dynamic Return Fund
Asset Allocation Funds
Global Diverse Series - Managed Fund
Global Diverse Series - Balanced Fund
Global Diverse Series - Adventurous Fund
Allianz Glb Artificial Intelligence Acc SGD-H
Allianz Glb Intelligent Cities Income Dis SGD-H
Allianz Income and Growth Acc USD
Allianz Income and Growth Dis AUD-H, GBP-H , SGD-H
Allianz US Short Dur High Income Bd Dis SGD-H
Baillie Gifford Asia ex Japan Acc USD
Baillie Gifford LT Global Growth Acc USD
Baillie Gifford Positive Change Acc USD
Baillie Gifford US Equity Growth Acc USD
Canaccord Genuity Opportunity Fund Acc AUD-H, GBP-H, SGD-H, USD
Fidelity Asian Special Sit Dis USD
Fidelity Emerging Markets Acc SGD-H, USD
Fidelity European Dynamic Gr Acc SGD-H, USD-H
Fidelity US High Yield Fund Acc USD, AUD-H, GBP, SGD
First Sentier Bridge Fund Dis SGD
Franklin Global Sukuk Fund Dis SGD
Franklin Technology Fund Acc SGD-H
Franklin Technology Fund Acc USD
FSSA Asian Equity Plus Fund Acc USD
FSSA Dividend Advantage Fund Dis SGD
FSSA Greater China Growth Fund Acc USD
FSSA Indian Subcontinent Fund Acc USD
FSSA Regional China Fund Acc SGD
FSSA Regional India Fund Acc SGD
Fundsmith Equity Fund Acc GBP
Invesco Global Consumer Trends Acc USD
Janus Henderson Glb Life Sciences Acc SGD-H, USD
JPM Asia Pacific Income Acc USD
JPM Asia Pacific Income Dis AUD-H, SGD-H
MS Emerging Leaders Equity Fund Acc USD
MS Europe Opportunity Fund Acc EUR
Quilter Inv Compass 3 Port Acc AUD-H, EUR-H, GBP-H, SGD-H, USD
Quilter Inv Compass 4 Port Acc AUD-H, EUR-H, GBP-H, SGD-H, USD
Sands Capital US Select Growth Acc USD
Schroder ISF China Opp Acc SGD-H, USD
Templeton Shariah Global Equity Acc SGD
UBS All China Equity Acc USD
UBS China Allocation Opportunity Acc USD
United Asian High Yield Bond Acc SGD-H
United Asian High Yield Bond Acc USD
Fixed Income USD 2022-10-11
United Gold & General Fund Acc SGDUnited SGD Fund Acc SGD, USD-H
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1. What is an SRS account?
The Supplementary Retirement Scheme ("SRS") is a voluntary scheme that complements the CPF Scheme in Singapore. You contribute any amount to your SRS (subject to a cap which is currently at $15,300 per year). This contribution can be excluded from your taxable income for the year. In addition, when you withdraw the funds on or after your retirement age, you will also be able to avoid paying taxes on this amount. We explain this below in Q3.
Interestingly, your SRS account is managed by the banks, not CPF. So you will need to set up an SRS account with your bank. If you need help setting us your SRS account, please do WhatsApp us at 91515963.
Important things to note about the SRS:
|Bank||How to Transfer||Deadline|
|DBS||Digibank||7pm, on the bank's last working day of December|
|UOB||UOB Personal Internet Banking||8pm, on the bank's last working day of December|
|UOB||Cash or debit from UOB account at a UOB branch||29 Dec 2022, respective branch banking hours apply|
|UOB||Cheque deposit at a UOB branch or Quick Cheque Box||3:30pm, 29 Dec 2022|
Cash at Bank Branches
Cheque deposit at Cheque Box
|SRS contribution requests submitted between 9am and 9pm from Monday to Saturday (excluding public holidays) will be processed immediately. Requests submitted after 9pm or on a non-business day will be processed on the next business day.|
2. When can I start withdrawing from my SRS account without penalty?
You can make withdrawals after the statutory retirement age based on when your first SRS contribution was made. This is currently age 63 and will increase over time. If you wish to lock in an earlier retirement age, do set up your SRS account and put in at least $1.
3. What are the minimum and maximum investment amounts for #goElite Secure and #goElite?
The minimum single premium is S$30,000 and maximum is S$500,000 for cash investments. For SRS policies, the minimum single premium is S$10,000 and maximum is S$500,000.
4. What can I invest in to increase my returns on my SRS account?
As the SRS funds will be in the SRS account for a long time, you can consider taking on assets that give a better return in the long-term. You would want to at least beat inflation! Generally, "guaranteed products" such as fixed deposits will give a very low returns that do not even cover inflation. Consider insurance plans such as Gro Saver Flex Pro, Gro Retire Flex Pro and MyLifeIncome II to get a mix of guaranteed returns and bonuses. These plans may offer capital guarantees as well, so you can be confident that your capital is not eroded over time.
You can also consider risker investments that may give even higher returns like SRS-approved unit trusts. Check out our offering of such unit trusts here.
5. How is WealthLink, #goElite Secure or #goElite different to SRS Participating Insurance Plans?
WealthLink, #goElite Secure and #goElite are investment linked plans which means that the underlying assets are invested in selected investment funds and the value of these funds may increase or decrease depending on the market conditions.
Unless specifically stated otherwise, there is no guarantee on the value of the underlying assets.
#goElite Secure offers a high watermark locked-in value explained above to protect your death benefit against volatile market conditions.
Participating plans tend to have a more stable growth in policy value as the insurer typically seeks to smooth returns to the policyholders over time. There is also an underlying guaranteed surrender value.
InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser. This advertisement has not been reviewed by the Monetary Authority of Singapore.
* Cash plans only. Dividends for plan invested using SRS funds are reinvested in the plan.