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+--- Thread: Those who are above 18 or have kids above 18...you need to open SRS account (/Thread-Those-who-are-above-18-or-have-kids-above-18-you-need-to-open-SRS-account)
Those who are above 18 or have kids above 18...you need to open SRS account - sgbuffett - 10-11-2021
This is to lock in a retirement age of 62 if ever you need to use SRS later on for tax savings purposes. You need to deposit $1 into it.
The youngest age you can start SRS is 18.
If you create SRS after jul next yr...the retirement age applied to the SRS account is 63 but I believe the govt will keep raising retirement age to at least 65 and maybe to 70.
https://blog.seedly.sg/supplementary-retirement-scheme-account-opening?amp=1