Read? Almost half in Singapore expect family to care for them in retirement: survey
A SURVEY of just over 1,000 Singaporeans found that nearly half (46 per cent) expect their family to care for them in retirement.
Nearly half (48 per cent) believe they would not be able to save enough to sustain their lifestyle in retirement. And, over half (57 per cent) say retirement planning is a source of stress.
The survey by St James Place Wealth Management Asia (SJP Asia) highlights the challenges and inadequacy of retirement planning, even among younger people.
The survey interviewed over 2,000 respondents in Singapore and Hong Kong in February and March. Only those between the ages of 25-54, who held personal investments in stocks, property, shares or funds were interviewed.
The respondents had annual income of between S$70,000 and over S$250,000.
More than one in eight (13 per