Gig workers may enjoy enviable perks but tend to save less: Manulife

SINGAPORE (Oct 4): Joining Singapore’s rising gig economy certainly comes with benefits, such as flexibility and job satisfaction, that a regular nine-to-five desk job may not offer. Those who opt to do so are however finding it harder to save compared to full-time employees, finds a new study by Manulife.

According to the Manulife Investor Sentiment Index (MISI), Singaporeans are expecting to need an average of $1 million in savings to retire – with close to 40% of the 500 respondents, comprising both gig workers and regular employees, indicating a savings gap of over $0.5 million.

In particular, gig workers surveyed have a much wider average savings gap of $893,000 compared to regular jobbers ($576,000).

---

Related Stories

• Local coconut supplier elevates fleet efficiency with Zebra Technologies
• Achieving Singapore's Smart Nation ambition through AI and automation
• Even with a brief life expectancy dip, 16% of the global population will be 65+ by 2050

---