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

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

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