According to survey findings released by Manulife Asset Management's Aging Asia Research Series, many people in Singapore are underestimating the length of time that they will actually be spending in retirement.
Many Singapore individuals are expecting the retirement period as a married couple to be 19 years when it is actually closer to 24 years. The projected retirement duration was estimated by analysing the mortality rates from Singapore' Department of Statistics.
Elsewhere, other surveys done by other companies have also shown that 4 in 10 Singaporeans want to retire at 55. Four in 10 Singaporeans also have not started saving for retirement. These are all worrying figures. It shows that there is probably a general lack of good retirement planning amongst Singaporeans.
Expected length of Retirement
Retirement and life expectancy is something that is closely linked. Given the longer lifespan of women, women are also likely to outlive their male ......