Singaporeans want to Retire Abroad

Nearly two-thirds of Singaporeans polled in a recent survey said they have considered retiring in another country that offers a slower pace of life and lower cost of living.

The survey on ageing polled some 300 people from 21 yr-old to 55 yr-old, with 75% of them were between 21 and 34 yr-old. The survey which was commissioned by non-profit organization, The Tsao Foundation, also found that:


- 58% are prepared for ageing and feel confident.

- 80% say they have started saving for retirement.

- 92% do not expect their children to live with them in their old age.

- 90% want to spend their old age at home, and not in a nursing home.

- 79% feel they will be financially independent and do not see the need to rely on children or
social support.

- 50% feel comfortable with the physical and social support in the country.



Seeing the results that concluded 80% of the subjects have already begun saving for retirement (exclusive EPF) and 75% of the subjects came from group with age 21-34 yr old, it is clear that people in Singapore realized the importance of saving money for retirement. Is this the similar scene in our country, Malaysia?