Longest Retirements Fuel Pressure for Singapore
Almost half a century after independence, Singaporeans now live the most number of years after leaving the workforce, according to the Global Sunset Index of 68 countries compiled by Bloomberg. In the world’s sixth-most expensive city, 41 percent of more than 1,000 residents surveyed by HSBC Holdings Plc (5) said they haven’t saved for retirement, with nearly half of them blaming living costs for hampering efforts.
Singapore’s number of elderly will triple to 900,000 by 2030, according to the National Population and Talent Division. The government says that about half of Singaporeans aged 65 today are expected to live beyond 85, and a third beyond 90.
Read full text: Bloomberg
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