So if you are someone who wants more money in your twilight years to complement your CPF monies, watch this retirement video and start calling us to find out more! [From 1 Jan 2016, please leave your CONTACT NUMBER in the "message" box, so we can verify that your interest is real and not for the sake of getting quotations only. (For quotes, you can call the insurers directly). Thanks for your understanding]
Showing posts with label tax planning. Show all posts
Showing posts with label tax planning. Show all posts
Retirement Planning With Cash or SRS
With the aging population in Singapore, the buzz word these days is probably Retirement. Tokio Marine Life Insurance Singapore from the Tokio Marine Group will probably be the one insurance company to help you address this need since they have been aggressively launching and promoting new retirement policies of late and here's the latest video just to help you better understand and plan for your retirement using your SRS or cash using one of their latest launch, TM Retirement (SP)! (For those who want to know what is SRS or how it can help you in your tax planning, visit this page)
So if you are someone who wants more money in your twilight years to complement your CPF monies, watch this retirement video and start calling us to find out more! [From 1 Jan 2016, please leave your CONTACT NUMBER in the "message" box, so we can verify that your interest is real and not for the sake of getting quotations only. (For quotes, you can call the insurers directly). Thanks for your understanding]
So if you are someone who wants more money in your twilight years to complement your CPF monies, watch this retirement video and start calling us to find out more! [From 1 Jan 2016, please leave your CONTACT NUMBER in the "message" box, so we can verify that your interest is real and not for the sake of getting quotations only. (For quotes, you can call the insurers directly). Thanks for your understanding]
Maximising your SRS with an Endowment Plan
SRS (Supplementary Retirement Scheme) was once a household word when it was introduced and somehow now it has lost its pizazz. However, it is still a worthwhile consideration for your retirement and tax planning in Singapore
For people who are beginning to set aside money for their retirement plus tax planning and are not familiar with SRS, here're some examples:
Another Example:
In a nutshell , the things you need to know if you are utilising your money for SRS are:
So that leads us to the reason why this post is written. Tokio Marine has launched a single premium endowment policy called TM Retirement@63 on 8 January 2015. It basically provides 10 annual Cash Benefits starting from policy anniversary at which the assured reaches age 63 on next birthday (which is also the payout date). Once the client receives all 10 annual payouts, the policy then terminates.
The nice thing about the plan is that it is also available in cash mode & is a guaranteed acceptance policy. As with most insurance, there is also some form of death benefit unlike other SRS investments which basically returns you whatever is left in the account at the point of death (which at times can mean a loss in capital).
If you are still wondering which insurance plan is suitable for SRS, then look no further and contact this FPC for more details about TM Retirement@63 !
For people who are beginning to set aside money for their retirement plus tax planning and are not familiar with SRS, here're some examples:
- There will be annual savings in your income tax if you belong to the higher tax bracket.
- Your SRS contribution can be used to buy Insurance policies which appreciates with time & get you more for retirement.
- Upon withdrawal, only 50% is subject to tax & you can expect greater savings should you spread your withdrawals over a 10 years period.
- The interest rate on balances in the Supplementary Retirement Scheme (SRS) Account which are not invested is currently approximately hovering at 0.05% p.a. (POSB 2012)
- Moves you into lower tax bracket
- SRS contributions must be made by 31st December each year
- Singaporeans annual cap-$12,750, Foreigners annual cap-$29,750 (as they do not have CPF)
The nice thing about the plan is that it is also available in cash mode & is a guaranteed acceptance policy. As with most insurance, there is also some form of death benefit unlike other SRS investments which basically returns you whatever is left in the account at the point of death (which at times can mean a loss in capital).
If you are still wondering which insurance plan is suitable for SRS, then look no further and contact this FPC for more details about TM Retirement@63 !
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