Supplementary Retirement Scheme

Frequently Asked Questions

What can I expect from a rights issue?

Visit for more details.

How do I contribute to my SRS Account?

You can do so via digibank or at the branch. For contribution via digibank, simply perform a funds transfer to your SRS Account. Please visit this page for more information on contribution channels and deadlines.

You do not need to make a claim in your tax return as it will be allowed automatically based on information provided by us to IRAS.

What is the contribution limit?

The yearly contribution for a Singaporean or Singapore Permanent Resident is capped at S$15,300. If you're a foreigner, you'll be allowed a higher yearly contribution of S$35,700 as you do not enjoy tax relief on your CPF contributions.

For Foreigners, please declare your Foreigner status at the branch to update your SRS contribution cap for the year. (Note: This declaration needs to be done yearly as the SRS contribution limit will reset on 1 January each year)

If you become a Singapore Citizen or Singapore Permanent Resident during the year, please update the SRS operator as your maximum contribution amount will have to be recalculated even if you have already made contributions for that year. The bank will re-compute your SRS contribution cap for the year on a pro-rata basis.

Penalties may be imposed for excess contributions if a wrongful declaration has been made to the SRS operator.

Can I invest with you if my SRS Account is with another bank?

Yes, you can speak to us on how you can maximise your SRS funds.

What happens if I withdraw before the retirement age at first contribution?

You can withdraw from your DBS SRS Account at any time before retirement age at first contribution, subjected to a 5% penalty for early withdrawal. 100% of the amount withdrawn will also be subjected to tax for that year.

Where can I do my SRS withdrawal?
Regardless if you are doing an early or penalty-free withdrawal, please visit any DBS/POSB Branch to process your SRS withdrawal.
How can I check my SRS Account balance?

Login to digibank and easily view the following information on your SRS Account:

  • Maximum contribution amount
  • Total contribution made to date
  • Balance contribution limit
  • Cash balance
Can I have multiple SRS Accounts?

You can only have one SRS account at any point in time. It is an offence to open SRS Accounts with more than one operator and there are penalties for doing so.

Instead, if you have an existing SRS Account with another SRS operator and wish to transfer to DBS, please visit any of our branches to do a SRS Account transfer.

How do I transfer my SRS Account from another bank to DBS?

You can visit any of our branches to complete and sign the following forms:

  • SRS Account Transfer form
  • SRS Account Application form
  • SRS Annual Declaration form (Applicable to foreigners only)

The cut-off date for SRS interbank account transfer request is 10 December 2021. This service will resume on 3 January 2022.

Do I have to ensure sufficient cash balance in my SRS Account before requesting for any securities transaction?

Effective 10 Dec 2018, the settlement cycle for securities is two days (Trade date plus two days) to align with the new SGX securities settlement cycle. Please ensure that you have sufficient cash and securities balance in your SRS account before requesting for any securities transaction with us. Your trade will be accepted up to your available funds or securities upon receipt by the bank.

Where can I find out more information on my shares corporate action event for my SRS Account?

Information on shares corporate action event, can be found in the SGX website. Refer to Company Announcements, under Company Information.

My shares in the SRS Account has a stock split event, when will the shares be credited to my SRS Account?

The "security credit date" information can be found in the SGX website. Refer to Company Announcements, under Company Information.

What are the fees and charges involved?

The bank will charge a transaction fee of $2 for each Singapore Savings Bond application and redemption request. Otherwise, all SRS account transaction charges are waived until further notice.

Note: Third-party related charges such as CDP administrative fees and sales charges when investing using your SRS funds will still apply. Please check with the product provider you are investing with for the relevant fees and charges.