Young people in Singapore are starting to plan for retirement, NTUC Income survey shows

Office workers at Raffles Place on Feb 18, 2015.
Office workers at Raffles Place on Feb 18, 2015. PHOTO: ST FILE

SINGAPORE - Young people in Singapore are starting to plan for their retirement, a new survey has found.

The survey by Nielsen, which was commissioned by insurer NTUC Income, interviewed residents between 25 and 70 years old, to get perspectives across different age groups.

It found that 55 per cent of those between 25 and 35 have started saving and active planning for their future.

86 per cent of the same group are also willing to save $300 a month to get $1 million by 65 years old.

The survey also found that 66 per cent of retirees aged between 60 and 70 wished they had started planning for retirement earlier.

NTUC Income also addressed Mediacorp actress Rebecca Lim's post on her "retirement", saying it was not their intention to upset anyone and the aim was to educate.

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