A recent survey on Singaporeans worried about not having enough money for retirement (http://sbr.com.sg/hr-education/in-focus/money-no-enough-over-6-out-10-singaporeans-worried-about-uncomfortable-retirem) got me thinking. 'Only 36% of Singaporeans aged 40-60 are confident that their current nest eggs are enough to make retirement comfortable, while 30% expect that they will have to downgrade their current lifestyle and habits when they retire', according to the survey conducted by DBS-Manulife.

No. of Singapore Citizens in different Age Groups Source: National Population  & Talent Division (NPTD)

There is some 1.0473 million Singaporeans in this age range, including my parents. They will be retirees in the future and retirement is what you or me will face as well. Earlier on last year during the National Day Rally, the government announced that the re-employment age will be raised from the current 65 to 67 by 2017. The average life expectancy based on available data in 2014, ......