When can I make a withdrawal from my SRS account?
Any time. However if you make a withdrawal before the statutory retirement age prevailing at the time of your first contribution, 100% of the sum withdrawn will be subject to tax. A 5% penalty for premature withdrawal will also be imposed.
The penalty applies to all withdrawals except those made under exceptional circumstances:
b. medical grounds;
c. bankruptcy, and;
d. the full withdrawal of the SRS balance by a foreigner provided that the following conditions are met:
i) you are neither a Singapore Citizen nor a SPR on the date of withdrawal and for a continuous period of 10 years preceding the date of withdrawal;
ii) you have maintained your SRS account for a period of not less than 10 years from the date of your first contribution to your SRS account, and;
iii) you make a one-time full withdrawal from your SRS account.
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