Three thoughts you must have had.
Previously, Singaporeans saved an average of 20 years, starting later at age 39.
These days, the average Singaporean starts saving for retirement at 32 and continues for another 29 years.
Despite the longer and earlier period of saving, 41 percent of current working age Singaporeans wish they had started to save earlier.
More than 38 percent have stopped saving altogether due to various difficulties.
Here are three thoughts Singaporeans have:
|“Nine years longer means Singaporeans can only retire at age 136.”
— Tui Xiu, 44-year-old semi-retired retiree
|“Older Singaporeans have other options besides retiring, namely, dying or passing away.”
— Xi Keow Kiao, 68-year-old undertaker
|“There wouldn’t be this problem at all if Singapore abolishes retirement.”
— Gan Diao Ta, 17-year-old student