Read? Retiring in Comfort - An SGX and Oliver Wyman paper on retirement savings Singaporeans face a retirement challenge – how to ensure a desirable lifestyle post retirement without overreliance on external sources. Historically, many retired Singaporeans have relied on their children as the main source of financial support. However, shifting demographics due to increases in life expectancy and low birth rates put limitations on the extent to which this model is sustainable. It is therefore paramount that Singaporeans can adequately plan, save and invest for retirement. The CPF plays a central role in addressing this challenge and has established a mandatory retirement saving scheme for Singaporeans, bringing together employers and employees to contribute up to 36% of income into the scheme for retirement, housing and healthcare purposes. According to the analysis used in this paper, the average Singaporean in full time employment today can expect an income replacement ratio (expected post retirement income vs. pre-retirement income) of around 68%...