7 in 10 prefer personal retirement plans over fixed age: survey

However, only 35% say they are prepared to achieve their ideal retirement.

Seven in 10 Singaporeans prefer to retire based on their own personal plans rather than at a fixed statutory age, according to T. Rowe Price’s 2025 Singapore Retirement Survey.

Whilst nearly 60% believe they would need over $1m to retire comfortably, only 35% say they are prepared to achieve their ideal retirement.

The survey also found that the majority (68%) of working Singaporeans prefer a flexible retirement approach.

Amongst those open to such models, 72% favour micro-retirement or taking short breaks between careers.

The main reasons cited were work–life balance (65%), reducing work pressure (61%), and pursuing personal interests (53%).

Most see micro-retirement as something for people over 50, lasting less than a year.

Many also recognise the financial commitment required, with 37% indicating they would want to have more than $300,000 in assets before pursuing this path.

Another popular option is unretirement, with 74% open to returning to work after retirement age.

Keeping mentally active (72%) was a stronger motivator than maintaining income (62%) or reducing financial pressure (48%).

Four in ten said they would consider part-time work within six months of retiring, often in their previous field, and most would accept lower pay.

Despite a strong interest in flexible retirement, confidence lags. Two in three respondents (67%) are unfamiliar with retirement products available in the market.

Additionally, although 66% have a savings goal and 70% say they are comfortable with medium-to-high investment risk, many still rely primarily on time deposits and bank savings.

Furthermore, 73% prefer products that reduce investment risk as retirement approaches. Whilst this is a defining feature of retirement glide paths, 87% are unfamiliar with this investment framework.