Contribution to Supplementary Retirement Scheme (SRS) Account
For customers to be eligible for tax relief in Year of Assessment 2021, contributions must be made before 7pm via digibank on 31st December 2020.
Part of: Guides > Your Guide to digibank Online
Important information
- Please ensure that your SRS contribution does not exceed your balance contribution limit available. Do note that in the case of the contribution amount exceeding the balance contribution limit available, the entire amount will be refunded to your funding account.
- 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 Jan 2021.)Maximum Annual Contribution Limit Singapore Citizens / PRs S$15,300 Foreigners S$35,700
Your contribution options
Contribution via digibank Online
Important: For customers to be eligible for tax relief in YA 2021, contributions must be before 7pm on 31st December 2020 via digibank Online.
- Log in to digibank Online with your User ID and PIN.
- Select Transfer and click To My Account.
- Authenthicate your log in with your Digital Token.
- Select your Account you wish to contribute from.
- Ensure SGD - Singapore Dollar is selected as the Currency. We only accept SGD for SRS contributions.
- Select your SRS Account you wish to make your contribution to.
- Indicate the Amount you wish to contribute and click Next
- Verify the details and click Submit to complete the contribution.
Apply for digibank Online
Contribution via digibank Mobile
Important: For customers to be eligible for tax relief in YA 2021, contributions must be made before 7pm on 31st December 2020 via digibank Mobile.
- Log in to digibank Mobile with your Touch / Face ID or digibank User ID & PIN.
- Tap Pay & Transfer and select All.
- Under Your DBS/POSB Accounts, select your SRS Account you wish to make your contribution to.
- Ensure SGD - Singapore Dollar is selected as the Currency. We only accept SGD for SRS contributions.
- Select your Fund Source you wish to contribute from.
- Enter the Amount you wish to contribute and tap Next.
- Verify the details of the contribution and tap Confirm to complete the contribution.
Don't have digibank Mobile?
Contribution via Branch
Important: For customers to be eligible for tax relief in YA 2021, contributions must be made before 3.30pm on 31st December 2020 via any POSB/DBS Branches.
- Visit any POSB/DBS Branches with your NRIC/Passport.
- Foreigners must declare their foreigner status at the branch to qualify for the foreigner annual contribution limit for SRS.
Contribution via Cheque
Important: For customers to be eligible for tax relief in YA 2021, contributions must be deposited before 11.30am on 31st December 2020 via cheque. For foreigners, please declare your foreigner status at the branch if you have not done so for year 2020 before depositing the cheque.
- Issue a POSB/DBS Cheque in your name.
- Write your SRS Account no. at the back of the cheque.
- Deposit your cheque at any POSB/DBS Branches or Cheque Deposit Machines located islandwide.
Terms and Conditions Governing SRS
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Related articles
Was this article helpful?
We welcome your feedback
Thanks for your feedback!
We’ll continue to work towards serving you better.
Need more help?
Contact support and we'll try to resolve your issue quickly.
Contact Customer Support