Know the Facts

Find out what can affect your ability to afford the retirement lifestyle you want.

Fact #1:

We are living longer.

Average life expectancy

How this affects your retirement plans

Your intended retirement savings amount may not last you through your entire retirement period. To build up more funds, you may have to consider working past your intended retirement age.

Disclaimer: The life expectancy statistic is an average figure. The actual lifespan of an individual may be longer or shorter than average. A prudent retirement plan will need to consider planning beyond the average life expectancy.

Source: Department ofStatistics, Complete Life Tables 2008 - 2013 for Singapore Resident Population

Fact #2:

Cost of living is rising.

Daily necessities will cost more

How this affects your retirement plans

When you have to spend more on daily necessities, you’ll have less to spend on the things you want to pursue

Assumption on inflation rates
Food: 3%
Medical & public transport: 6%

Disclaimer: Excludes major medical conditions, travel, dining in restaurants and other costs.

Fact #3:

Downgrading to fund your retirement is not that simple.

Factors to consider

Fact #4:

The better the retirement lifestyle you want, the higher the income you need.

What many Singaporeans are aspiring towards

Source: 2013/2014 DBS Financial Motivations Survey

How much to retire?
How much to retire?

Use this calculator to work out how much you need to set aside every month for an enjoyable retirement.


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