85% of Singaporeans don't have enough money for retirement

They said they're suffering from the current economic environment.

In a recent survey by health insurance survey company Cigna, it was found out that Singapore's financial score is one of the lowest, with 85% of respondents reported that they have insufficient money for retirement. 54% of Singaporeans said they are suffering from the current economic environment.

The 2017 360^o Wellness Survey also found out that family welfare also declined across Asia, with Singapore ranking second lowest at 61.2% after South Korea (56.6%). 70% think they have not spent enough time with their families and only 23% can take care of their parent’s health and well-being.

About 22% of Singapore respondents did not have a health check in the last 12 months. 41% of those surveyed in Singapore seeks professional help when ill, with most relying on self-administered remedies. While 97% of Singapore respondents are covered by some form of insurance, nearly 60% of them are still paying for their own medical expenses.

The study showed that workplace wellness programs were not yet a strong reason to select an employer, but were frequently cited as a reason to stay with an employer.

Even without pay, people want to stay involved beyond retirement age; this mindset increases with age and involvement often includes volunteerism, with 31% of over 50s in Singapore saying they plan to volunteer

Globally, the 2017 360^o Wellness Survey found that the overall well-being of individuals has fallen in the last few years. Nearly 80% of people believe they cannot take care of their children’s and parents healthcare needs. Over 80% do not think they have enough money for retirement or if they lose their jobs.

66% feel their work health coverage is important, highlighting workplace wellness programs as a valued retention tool. Digital health is on the rise - 59% of people are currently/planning to use health apps in the coming year