Why should I top up SRS at the beginning of the year rather than at the end?

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I started topping up my Supplementary retirement Scheme (SRS), account last week. The amounts I added are small but they help me slowly but surely reach the annual contribution limit of $16,300. I have contributed $403.10 to SRS using “free” passive earnings from Savings Bonds and IPPT award money.

 

I will continue to contribute to SRS with my dividends and savings this month and next. By the end of March 2024, I want to reach my contribution cap of $15,300. Why do I contribute so early to the year when it is only February? I will share five reasons. 1. Investment Goals and OpportunitiesIronically, the bank that I chose to invest in for my SRS portfolio is OCBC.




‘ Credit:
Original content by thefinance.sg: “Why do I top up SRS early in the year instead of at the end of the year?

Read the complete article at https://thefinance.sg/2024/02/10/why-i-top-up-srs-early-in-the-year-instead-of-year-end/

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