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Spotlight on options to supplement income in retirement as super-ageing looms in S’pore
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By 2050, 34.2% of the Singapore population will be 65 years old or older, according to the World Social Report 2023 from the United Nations.
ST PHOTO: GIN TAY
SINGAPORE - Working adults will have to look after more than one generation of seniors in the future, a challenge that is becoming a norm as Singaporeans live longer and the population ages at a faster pace.
But in terms of finances, Singapore’s national annuity and medical schemes will provide a base for retirement, while income can be supplemented by private annuity plans and schemes, such as a housing lease buyback programme, say analysts.
