Falco Academy Pte Ltd
DEMYSTIFYING SRS

Courses

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DEMYSTIFYING SRS

  • 21 March, 2022 - 21 March, 2022
  • 9:30am - 5:30pm
  • S $89.90 S$242.73 (after 80% Subsidy, includes GST) or S$152.83 (after 90% Subsidy, includes GST)
  • Virtual Class

The Supplementary Retirement Scheme (aka SRS) is part of the Singapore government’s multi-pronged strategy to address the financial needs of a greying population by helping Singaporeans to save more for their old age. It began in 2001 and is operated by 3 major banks. They are DBS, OCBC & UOB. The SRS complements the Central Provident Fund (CPF). CPF savings are meant to provide for housing and medical needs and for basic living needs after retirement.

Unlike the CPF scheme, participation in SRS is voluntary. SRS members can contribute a varying amount to SRS (subject to a cap) at their own discretion. The contributions may be used to purchase various investment instruments. And one good reason for contributing to the scheme gets to enjoy tax-relief and hence lead to tax savings. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.

Demystifying SRS aims to provide participants with the know-hows and skills to demystify the rules and adopt the COST framework to build their clients supplementary retirement funds.

To be future-ready, Demystifying SRS is incorporated with web-based application to help practitioners to acquire knowledge & gain skills in order to internalise these values to build their unique financial advisory process.

Completion of Demystifying SRS will strengthen your identity as a financial advisory practitioner who is capable to impart your practical knowledge and henceforth impacting your client’s financial in a positive way.

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Description

Learning Outcome
Learners get to :

  • Understand & able to apply the COST framework in SRS advisory practice
  • Explain the importance of tax application through SRS.
  • Simplify the complexity of SRS.
  • Explain & Apply the HEARD Financial Planning Process
  • Demonstrate the engagement process for fact-finding interview
  • Describe the timeline pertaining to client’s life stage.
  • Demonstrate and explore opportunities for meaningful interview
  • Identify the concerns in retirement planning
  • Learn to search and to interpret the information from data on retirement.
  • Formulate the retirement income solution using SRS.
  • Recognise the importance of early planning to prevent disappointment
  • Apply KASH to create advisory opportunities.
  • Understand how to utilise the financial planning software
  • Independent study method via applying / leveraging on web-based technology for financial planning
  • Organise your financial advisory practice
  • Organise personal value system to formulate advisory practice
  • Internalise value system to build your advisory practice
  • Demonstrate understanding and application through case studies
  • Demonstrate and explore opportunities for meaningful client engagement interviews through online & offline communication.
  • Learn to build a rainbow retirement chart to explain the retirement advisory via a software application.
  • Appreciate the importance of leveraging technology to create scenarios planning.
  • Redefine the way your client experiences retirement planning through the interactive chart.
  • Differentiation in creating value through applying time value of money for fee advisory opportunity.