Planning for retirement is a crucial part of financial planning and one of the many tools designed to help is the Supplementary Retirement Scheme or SRS. And why is it that we tend to talk about the SRS at the end of the year and can it really help power-up our retirement savings?

Howie Lim speaks to Shawn Lee, assistant vice president, financial planning literacy, DBS Bank to find out.

Synopsis: Every Monday, The Business Times breaks down useful financial tips.

Highlights:

01:14 Why year-end is SRS season

03:30 The downside to the SRS

05:57 Do not leave the SRS idle

08:06 Will changes to the CPF Act have an impact?

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Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg.

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Written and hosted by: Howie Lim (howielim@sph.com.sg)

With Shawn Lee, assistant vice president, financial planning literacy, DBS Bank

Edited by: Howie Lim & Claressa Monteiro

Produced by: Howie Lim

Engineered by: Chai Pei Chieh

A podcast by BT Podcasts, The Business Times, SPH Media

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Day 3 at the U.S. Open