Why SRS accounts are a good way to save

[valuebuddies]

Lately I have just came across with SRS and trying to understand it better in search of alternatives to invest/save for my retirement.

I have learned that the best part about SRS is to reduce one personal tax or to defer the tax payable after 62yo with possible lower tax rate. Having think carefully I find it not really beneficial to my case with the following reasons:

i) my tax bracket is not high, just started touching 11.5%
ii) ideally, I would like to have an investment property to fund my retirement, thus I am expecting to pay taxes even after 62yo, so 50% any withdrawal amount after 62yo might be still subject to tax
iii) I am expecting that 32 years later when I reach 62yo, more than 50% of my SRS fund will be the cumulative investment gains/incomes, and thus even with the 50% exemption on withdrawal sum, I might be still paying taxes on my investment gains/incomes (which is not the case if I invest outside from SRS)
iv) Uncertainty on the changes to personal tax rates 32 years later
v) Long lock-in period reduces flexibility of investing in non-SRS approved investments (eg. investment property etc)

For those who have SRS accounts, please share your thoughts on my findings above. Thanks...