The subject of retirement is an increasingly burgeoning issue amongst Singaporeans, given that the city-state has one of the highest life expectancies in the world, where at the age of 65, the Singaporean female is expected to live for another 23 years and a male for another 19.3 years. As such, Singaporeans do see the need to prepare for about two decades of post-retirement living.
According to Etiqa Insurance Singapore Retirement Survey 2022, 48% of Singaporeans are not confident in retiring comfortably.
This is observed in how younger Singaporeans are more worried about retiring comfortably by the age of 65 than their older counterparts. From the survey, one in five Singaporeans have also started retirement planning from the age of 24 or younger.
