What Mr. Da mentioned is something I’ve looked into as well. The latest SRS cap is 35,700 SGD. This money can indeed be invested and used for tax relief, which is especially friendly for high-income earners. But, it’s not without its downsides. First, while you can invest in the S&P 500, you can’t just buy anything. Specifically, you can’t directly purchase individual U.S. stocks or most U.S.-domiciled ETFs. You can only invest in products listed on SGX. Second, the withdrawal restrictions are pretty steep. Once you put money into SRS, the cost of early withdrawal is high. If you withdraw before the normal retirement age (63), the entire amount withdrawn is considered taxable income, and you’ll also face a 5% penalty. Only after reaching the statutory retirement age corresponding to your first SRS contribution can you enjoy the 50% tax concession, and you can spread withdrawals over 10 years to reduce annual tax burdens. Foreigners have a unique advantage, though. After holding an SRS account for 10 years, if they withdraw the full amount in one go and haven’t become a Singapore citizen or PR, they can avoid the 5% penalty, with only 50% of the amount being taxable. So even if you’re a foreigner and don’t plan to apply for PR in Singapore, you’ll still need to keep the funds in for at least ten years.