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S’poreans react to having to save 9 years longer for retirement than previous generations

Posted on 14 July 2016

Three thoughts you must have had.

singaporeans-retirement

According to a new report, workers in Singapore have to save for retirement nine years longer compared to previous generations.

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:

 

sian-half-auntie “Nine years longer means Singaporeans can only retire at age 136.”
Tui Xiu, 44-year-old semi-retired retiree

 

sian-half-uncle “Older Singaporeans have other options besides retiring, namely, dying or passing away.”
Xi Keow Kiao, 68-year-old undertaker

 

happy-bird-girl “There wouldn’t be this problem at all if Singapore abolishes retirement.”
Gan Diao Ta, 17-year-old student

 

 

 

 

 

 





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- who has written 2364 posts on New Nation.

Wang Pei can be considered a new citizen of Singapore. She has been here all her life, just that her environment's changed beyond recognition.

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