Singaporeans prioritize health and meaning over longer lifespans

Among 1,021 Singaporean respondents surveyed, just 6% said they wished for a longer life.

Singaporeans are redefining what it means to age well, shifting their focus from living longer to living better. According to the newly released Manulife Asia Care Survey 2025, the majority of local consumers place greater value on health, meaning, and financial independence than simply extending their lifespan.

Among 1,021 Singaporean respondents surveyed, just 6% said they wished for a longer life. Instead, 24% cited the ability to stay active and enjoy life as their top aspiration in old age.

Notably, 43% of Singaporeans want to avoid extended periods of chronic illness, a figure well above the regional average of 31%.

Yet the ambition to live well in later years is complicated by financial realities. Despite aspirations for independence, many Singaporeans remain underprepared.

Whilst 21% of respondents aim to be completely self-sufficient in retirement, 35% still rely primarily on cash savings, and only 22% depend on CPF or similar pension schemes. Property investment followed at 19%.

Adding to the pressure, 65% of respondents said they are financially supporting their parents, with more than a third covering over half of their parents' expenses. To cope, 45% said they intend to dip into their own retirement savings, and 44% plan to work as long as they can.

The survey also highlighted a growing awareness of the need for diversification. Among those who feel underprepared, 51% said they need to shift away from holding mainly cash.

A further 58% are more open to investing idle savings in income-generating assets, whilst 49% want pension providers to offer reliable retirement income streams.

Despite recognizing the importance of financial planning, Singaporeans remain underinsured. Whilst 70% agree that insurance provides peace of mind in retirement and 52% believe it benefits physical health, only 35% have critical illness coverage, and 30% say they do not plan to take up any insurance in the next two years.

The outlook on health is also sobering. On average, Singaporeans expect to begin facing serious health issues by age 66.5, but expect to live until 79—suggesting over a decade spent managing illness. Cancer, Alzheimer’s, and stroke were cited as the most feared and least preventable conditions.