The index calculates the individual preparedness of 1,000 working adults aged 25 to 60, based on expectations around their retirement lifestyle and needs, current income, accumulated savings, saving rates and investments, as well as other factors such as home ownership.
SINGAPORE (Dec 4): With many Singaporeans juggling a myriad of concerns such as home mortgages, expensive childcare and mounting healthcare costs for aged parents, saving for retirement may seem like a secondary priority.
But alarmingly, some 60% of Singaporeans are not adequately prepared for retirement, according to the Syfe Retirement Readiness Index (SRRI).
