Key requirements
Depending on withdrawal type, 50% or 100% enters the withholding base. The standard stated rate is 24%; a 15% concession requires cumulative withdrawals no more than S$200,000 in the year and no other income, with the prescribed declaration to the operator. A 5% premature-withdrawal penalty is separate and non-refundable. Singapore citizen withdrawals have no withholding under this guidance, though that is not the same as every withdrawal being exempt from final income tax. Operators transmit the data to IRAS. Foreigners or PRs undergoing tax clearance should provide the endorsed SRS contribution/withdrawal statement.
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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