The Big Read: The dreaded ‘R’ word — why Singaporeans need to start thinking seriously about retirement
Published last month, the latest Household Expenditure Survey — conducted every five years — found that retiree households living in public flats here receive an average of S$1,522 each month for their retirement needs, with the bulk of it coming from their children or relatives. A poll of 1,000 respondents by market research consultancy Blackbox — which was released in June — found that 62 per cent of Singaporeans feel they are not saving enough for old age. This figure rises to 74 per cent among households earning less than S$2,500 a month. The poll also found that 43 per cent of respondents said they were relying mainly on CPF, while 38 per cent said personal savings and 17 per cent said investments. For more on this story, click here.