Retirement withdrawal period
The statutory age became 64 from 1 July 2026, but later age changes do not alter an existing member’s first-contribution reference age. The ten-year period begins with the first penalty-free withdrawal. Remaining funds, excluding life annuities, are deemed withdrawn immediately after that period; 50% is reported for tax. Life annuities have separate continuing payment treatment.
Early and exceptional withdrawals
Ordinary early withdrawals are fully taxable and attract a 5% penalty. Bankruptcy withdrawals are fully taxable without that penalty. Qualifying medical withdrawals generally tax 50%; full terminal-illness withdrawals and death have an exemption calculation up to S$400,000, adjusted for prior withdrawals and remaining years. A foreigner’s one-time full withdrawal qualifies only with the specified ten-year account and non-citizen/non-PR history.
Withholding is a credit, not the final bill
Foreigners and PRs generally have 24% withheld from the taxable portion. A 15% concession requires calendar-year withdrawals no more than S$200,000, no other income in that year and the declaration. Resident final tax uses progressive rates; this SRS page states non-resident final tax is 15% or progressive rates, whichever is higher. File in the following year to determine liability and refund unused credits; an early-withdrawal penalty is separate and non-refundable.
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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