Other life insurance plans such as critical illness, health and long-term care are excluded.Īs SRS funds can only be withdrawn without penalty on or after the statutory retirement age, it makes sense to grow these funds using a medium-term endowment insurance plan. These plans allow you to grow your SRS funds while providing insurance coverage against death and total permanent disability (TPD) during the policy term. Your SRS funds can be used to purchase selected endowment insurance plans. Here are 6 options that will enable you to grow your funds in your SRS Account:

This includes diversifying your portfolio and avoiding unnecessary risks. It is recommended that investors take a long-term approach to their investments, especially as the aim of investing with SRS funds is to plan for a more comfortable retirement. Contributions into your SRS Account may be used to purchase various investment instruments to earn potentially higher returns. The Supplementary Retirement Scheme (SRS) is a government scheme that helps you enjoy tax savings on the funds you contribute while saving up for a comfortable retirement.

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