8 shocking revelations about retirement planning of Singaporean mums
Two in five expect their children to care for them when they retire.
While mums make monthly provisions in their budgets for expenses such as dining out, family vacations and enrichment classes for their kids, they are not setting aside funds for their own retirement. 75% of mums have not yet started planning for it; 44% plan to rely on their children post retirement.
The Singaporean Mums Retirement Aspirations Survey 2015 conducted by theAsianparent.com’s Insights team in collaboration with AIA, Singapore, found that despite having a lifespan of almost 20 years post retirement, the average Singaporean mother fails to plan for it. The survey conducted last month, targeted a group of over 600 mums in their 30s, including both stay-at-home as well as full-time working mums.