While I was doing some Google work on tax relief since we are just 3 months away from end of 2019. I came across this SRS relief calculator from POSB.
So apart from contributing to SRS do note that withdrawal age is at 62 now (it might change in future depending on the year you enrol in the scheme). It works in such that you get tax relief at time of enrolment – and when you start to withdraw at time of eligible age – say 63 to 72. You are still liable for tax except according to the tax rules at that point of time. Hence if we base it on current first $20k as tax relief and the 50% tax offset. You can withdraw $40k with no taxation involved over 10 years. That amounts to $400k in investible returns. Base on that, I did a calculation using the SRS contribution and returns tracker with the returns screenshot below.
It is quite feasible to just contribute between $4k to $8k a year and get a decent high end return of $400k depending on what you choose to invest and risk appetite. Also on the basis that the returns are accumulative and steady over the next few decades. The calculation is based upon current age of 31 to 62. Effectively a tenure of 30 years contribution.