Developed Asia is ageing rapidly. In the case of Singapore, the number of senior citizens aged above 65 is projected to nearly double to 900,000 in 2030, from 500,000 now, according to government statistics.
As these individuals pass their prime working years, many are likely to work fewer hours and draw substantially lower total pay. This generation will increasingly need to rely on their accrued investments to generate a stable, recurring income stream to supplement basic public and private pension benefits, maintain a comfortable standard of living and cover unexpected expenses such as healthcare.
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