Endowus is an investment platform that allows Singaporean investors to access a range of investment options using their Central Provident Fund (CPF) and Supplementary Retirement Scheme (SRS) funds. Here's how you can invest through Endowus using CPF and SRS:
1. **CPF Investment Scheme (CPFIS)**:
- Endowus offers access to the CPF Investment Scheme, which allows CPF members to invest their CPF Ordinary Account (OA) funds in approved investment products, including unit trusts, bonds, and shares.
- You can use your CPF OA funds to invest in Endowus' various investment portfolios, which are typically diversified across different asset classes such as stocks, bonds, and REITs (Real Estate Investment Trusts).
- Endowus provides a streamlined investment experience, allowing CPF members to invest their CPF savings efficiently and in line with their investment goals and risk tolerance.
2. **Supplementary Retirement Scheme (SRS)**:
- Endowus also facilitates investments using funds from the Supplementary Retirement Scheme (SRS), which is a voluntary savings scheme to help Singaporeans save for retirement.
- You can contribute to your SRS account and invest those funds through Endowus' platform. Similar to CPF investments, Endowus offers diversified investment portfolios tailored to your risk profile and retirement objectives.
- Investing through SRS provides tax benefits, as contributions to SRS are tax-deductible, and only 50% of withdrawals from SRS are taxable at retirement, providing potential tax savings.
It's important to note that investing through CPF and SRS involves certain rules and limitations set by the CPF Board and the Inland Revenue Authority of Singapore (IRAS). Before making any investment decisions, it's advisable to understand these rules and seek professional advice if needed to ensure that your investments align with your financial goals and comply with regulatory requirements.
Personally
I have been using my SRS to invest in the S&P 500 whereby i get tax savings. Since my run time will be 17 years + before i start to withdraw my SRS account money. I thought it is great to invest in the S&P 500 using Endowus where i can save tax and also invest my money. Do take note as of today the first $40k that you withdraw from SRS will not be subjected to any tax when you hit the SRS withdrawal age. Do note that if you withdraw the money in SRS before your SRS withdrawal age. 5% of it is subjected to 100% tax. The rest will add on to your annual income tax bracket accordingly.
My referral link is as below. If this article is useful and you are looking at investing through SRS, do refer to my link to sign up so that we can both earn the reward of $20 in Endowus Fee credits.
https://endowus.com/invite?code=WIGOG
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