Check the fund and payment timing
IRAS lists statutory Singapore government pension schemes and CPF or designated funds as non-taxable. Benefits from approved pension and provident funds received before retirement are taxable in full. On retirement at the statutory retirement age, only funds accrued from 1 January 1993 to retirement are taxable, assessed when received. These distinctions concern the specified fund categories rather than a general exemption for every retirement payment.
Report taxable retirement benefits
Where the employer is outside AIS, declare taxable benefits under “Employment – Others” in the income tax return. Where the employer participates in AIS, it submits the information electronically and the employee need not duplicate the report. Use the fund and employer records to identify the taxable amount rather than reporting the entire payment without checking exemptions.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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