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Singaporeans want to semi-retire at 57: Poll

Many are keen to work part-time to stay active, others need the income

Published on Sep 20, 2013 7:56 AM
In the HSBC survey of 1,000 people, retirees said the best financial advice they have ever had is to start saving at an early age. This was followed by saving a small amount regularly and developing a financial plan. -- ST FILE PHOTO: CAROLINE CHIA

Most people in Singapore dream of semi-retirement, according to a survey by HSBC.

But some semi-retirees have to keep working part-time for financial reasons, it found.

The bank's study on retirement, Life After Work?, found that 61 per cent of respondents working in Singapore plan on semi-retirement - if they have not already achieved this.

The study defines a semi-retired person as someone who works fewer hours but keeps up some paid work as retirement age approaches. Those who plan to semi-retire expect to do so at the age of 57, before retiring from all paid employment at 60.

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