Pension is a payment made to an individual after his retirement.
On this page:
- Government pensions: The full sum of government pensions received in Singapore is exempt from tax if you are a Singapore tax resident.
- Pensions from approved pension schemes: The amount of pension accrued up to 31 Dec 1992 in the approved funds in Singapore is exempt from tax if you retired at the retirement age stated in the pension or provident funds/schemes.
Pensions from approved pension schemes: You will be taxed on that part of the pension paid out of contributions made to the funds after 31 Dec 1992.
Example 1: Taxability of pension fund
You must declare the taxable pensions under 'Employment - Others' in your Income Tax Return.