Retirement planning takes a backseat amongst Singaporeans: OCBC

Only 2 in 10 Singaporeans are on track with their retirement plans.

Fewer Singaporeans can contribute to their retirement funds, OCBC’s Financial Wellness Index revealed.

Based on the survey, only 21% of Singaporeans are on track with their retirement plans in 2023, 8 percentage points lower than in 2022.

Looking at age groups, those aged 60-65 are the most on track (56%) with their retirement plans, followed by 50s (50%) and 40s (37%).

Singaporeans in their 30s (27%) and 20s (16%) are the least on track with their retirement plans.

The study also found that fewer Singaporeans (60%, -8 percentage points) are working on retirement plans.

Amongst age groups, seniors (60-65) are the most active in working on retirement plans, whilst the younger population (20s) were the least active.

Follow the link for more news on

OCBC Bank

Chart of the Day

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia