By MoneyBees
Find the date your SRS withdrawals stop carrying the 5% penalty, counted down from today. Your age is 62, 63 or 64, set by when you first contributed. See the 10 withdrawal years that follow and how much you can take out each year tax-free.
Opening the account alone does not count.
Your 10 years start on this date. It cannot be before your penalty-free date.
Rental, part-time pay, annuities.
Penalty-free from
15 Mar 2038
your 63rd birthday
Time to go
11y 5m 6d
4,175 days from today
Window ends
14 Mar 2048
10 years from your first withdrawal
Your first contribution on 20 Dec 2023 fixed your SRS retirement age at 63. A later change in the retirement age does not move it.
That is 11 years, 5 months and 6 days away. Withdraw before then and the whole amount is taxed, plus a 5% penalty.
From 15 Mar 2038 you have until 14 Mar 2048 to take your money out. Only 50% of each withdrawal is taxed, so up to $40,000 a year adds no tax with your other income. Anything left after that is treated as withdrawn and 50% of it is taxed in one year.
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| Year | From | To |
|---|---|---|
| Year 1 | 15 Mar 2038 | 14 Mar 2039 |
| Year 2 | 15 Mar 2039 | 14 Mar 2040 |
| Year 3 | 15 Mar 2040 | 14 Mar 2041 |
| Year 4 | 15 Mar 2041 | 14 Mar 2042 |
| Year 5 | 15 Mar 2042 | 14 Mar 2043 |
| Year 6 | 15 Mar 2043 | 14 Mar 2044 |
| Year 7 | 15 Mar 2044 | 14 Mar 2045 |
| Year 8 | 15 Mar 2045 | 14 Mar 2046 |
| Year 9 | 15 Mar 2046 | 14 Mar 2047 |
| Year 10 | 15 Mar 2047 | 14 Mar 2048 |
With 50% of each withdrawal taxed and the first S$20,000 of chargeable income taxed at 0%, up to $40,000 a year adds no tax at your other income.
| First contribution | Penalty-free from age |
|---|---|
| Before 1 Jul 2022 | 62 |
| 1 Jul 2022 to 30 Jun 2026 | 63 |
| On or after 1 Jul 2026, or not yet | 64 |
IRAS uses the statutory retirement age in force when you first contribute. The dates follow the retirement age notifications under the Retirement and Re-employment Act.
Born on 15 Mar 1975, you first put money into SRS on 20 Dec 2023. The retirement age then was 63, so you can withdraw without penalty from 15 Mar 2038. From 4 Oct 2026 that is 11 years, 5 months and 11 days away.
If you make your first withdrawal on 15 Mar 2038, your 10 years run to 14 Mar 2048. With no other income, S$40,000 a year comes out tax-free, so a S$400,000 balance can be emptied without tax over the 10 years.
Figures checked 4 Oct 2026.
It is the statutory retirement age in force when you made your first SRS contribution: 62 if that was before 1 Jul 2022, 63 from 1 Jul 2022 to 30 Jun 2026, and 64 from 1 Jul 2026. If you have not contributed yet, your first contribution fixes it at 64.
No. IRAS says that once you have made your first contribution, any later change in the statutory retirement age, for example up to 65, does not affect you.
On or after the day you reach your SRS retirement age, which is that birthday. Withdrawals from then are penalty-free and only 50% of each one is taxed.
Over 10 years from the date of your first penalty-free withdrawal. In IRAS's example, a first withdrawal on 1 Apr 2025 can be spread until 31 Mar 2035.
IRAS's rules set no date by which you must make the first withdrawal. The 10 years start only when you make it.
It is treated as withdrawn right after the 10-year period ends, and 50% of it is taxed that year. You can leave it with the SRS operator, but later returns are taxed like any other investment.
The whole amount is taxed and you pay a 5% penalty. There is no penalty on death, on medical grounds, on bankruptcy, or for a full withdrawal by a foreigner who meets IRAS's 10-year conditions.
With no other income, up to S$40,000 a year: half of it, S$20,000, is taxable and the first S$20,000 of chargeable income is taxed at 0%. Over 10 years that empties S$400,000 tax-free.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).