Singaporeans "positive" about retirement - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Investments and Net Worth

Investments and Net Worth Talk all about money making exploits, shares, property and building net worth




Singaporeans "positive" about retirement

Reply
 
Thread Tools
  #1 (permalink)  
Old 15-05-2007, 08:43 PM
Salary.sg
Guest
 
Posts: n/a
Default Singaporeans "positive" about retirement

It seems that Business Times is trying to reverse the negativity of its report on retirement funds gap yesterday.

Today, it reported on the findings of yet another retirement-related survey, this time by AXA Group. The AXA Retirement Scope 2007 survey found that Signaporeans are 2nd in terms of monthly savings for retirement ($824), among 16 countries surveyed.

A simple calculation shows that the $824 figure is derived possibly by taking $2,497 as the average gross monthly income. That is, the survey respondents from Singapore earns a gross salary of $2,497 per month and 33% of this is $824 (employer CPF contribution is 13% while employee's is 20%).

With this seemingly high retirement savings, it's little wonder that Singapore is ranked 4th in the same survey in terms of disposable income ($2,122). "But this finding could be skewed by the survey's high 'no answer' rate," added BT.

If it's really $2,122 in today's dollars, then I think many people will be quite ok.

After looking at the survey report, I also found that:

- Singapore also ranks well in terms of the percentage of respondents describing themselves as healthy.
- 4 in 10 retirees hold a paying job. (My gosh... we like to work!)
- Close to 80% of retirees claim their quality of life has improved. (It's probably because of this point that BT concluded that Singaporeans are "positive".)
- But 48% say their reitrement income is not sufficient. (I'm not sure if BT had looked at this. Do you consider this "positive"?)


http://www.salary.sg/2007/singaporea...ut-retirement/

Reply With Quote
  #2 (permalink)  
Old 07-09-2009, 05:28 PM
Verified Member
 
Join Date: Sep 2009
Posts: 24
glenndanker is on a distinguished road
Default

It should be unless some uncles spent their money at Batam or splurged at Geylang. If they have some money sense I would think that they should have pretty good retirement.



Primary School English Grammar and Vocabulary Drills
Primary School English Grammar and Vocabulary Drills


SG Bus Timing App
SG Bus Timing App - the best bus app - available on iOS and Android


Bursa Stocks Android App - check share prices
Bursa Stocks [Android] App - check latest share prices on the go


SGX Stocks Android App - check share prices
SGX Stocks [Android] App - check latest share prices on the go


SGX Stocks for iPad - check latest Singapore share prices
SGX Stocks [iPad] app
| SGX Stocks [iPhone] app
Reply With Quote
  #3 (permalink)  
Old 08-09-2009, 08:00 PM
Junior Member
 
Join Date: Jun 2009
Posts: 2
dhrye89 is on a distinguished road
Default

Probably not so good after the recent crisis.

Reply With Quote
  #4 (permalink)  
Old 08-09-2009, 09:28 PM
Unregistered
Guest
 
Posts: n/a
Default

You mean after spending their life savings on overpriced heartland condos?

Actually this crisis is nothing like a crisis. Or maybe the worst is yet to come. Imagine the 2 IRs opening to much fanfare but poor business... with only our uncles and aunties patronising, along with maybe a few backpacking low spending ang mohs... Btw, my ang moh colleague from Germany flew here in an almost empy SQ flight!
Reply With Quote
  #5 (permalink)  
Old 08-09-2009, 09:37 PM
Junior Member
 
Join Date: Jun 2009
Posts: 2
dhrye89 is on a distinguished road
Default

Nope. probably, it wiped out their savings when they purchased those junk bonds.
CPF alone is not enough for retirement. I am not so sure if the article is accurate.
Reply With Quote
Reply

Bookmarks

« Previous Thread | Next Thread »
Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Engineering and Technology Careers are Not Valued - Singapore is "High Cost Low Tech" Salary.sg Education and Personal Growth 204 25-05-2015 07:16 PM
Beware of People who claim to have "Doctorates" Salary.sg Education and Personal Growth 23 11-07-2012 12:43 PM
Beware of Singtel's unfair offer "forced" upon you via SMS Salary.sg Investments and Net Worth 18 23-06-2009 11:32 AM
Salary hikes "sustainable" Salary.sg Income and Jobs 0 17-07-2007 01:50 PM
Property now "underweight" Salary.sg Investments and Net Worth 0 12-07-2007 01:47 PM

» 30 Recent Threads
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
15,305 Replies, 4,982,652 Views
Career as Teacher ( 1 2 3... Last Page)
10,827 Replies, 6,664,761 Views
LTA (Land Transport Authority) ( 1 2 3... Last Page)
679 Replies, 388,168 Views
GovTech ( 1 2 3... Last Page)
5,160 Replies, 2,163,155 Views
Visa Graduate Development Program ( 1 2 3... Last Page)
207 Replies, 134,528 Views
SIM-UOL fresh grad starting pay ( 1 2 3... Last Page)
6,922 Replies, 2,902,493 Views
UOB Management Associate Program ( 1 2 3... Last Page)
1,455 Replies, 784,297 Views
MAS for Mid Career Professionals ( 1 2 3... Last Page)
1,799 Replies, 1,043,685 Views
Nparks ( 1 2 3... Last Page)
39 Replies, 34,353 Views
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
5,828 Replies, 4,656,563 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
309 Replies, 368,912 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
5,338 Replies, 4,769,435 Views
Compare civil service salary ( 1 2 3... Last Page)
16,342 Replies, 12,454,198 Views
Civil Service Current Estimated... ( 1 2 3... Last Page)
169 Replies, 309,037 Views
Constituency Manager (People... ( 1 2 3... Last Page)
989 Replies, 813,848 Views
Julius Baer Graduate Program 2023 ( 1 2 3)
21 Replies, 14,784 Views
Roles in accenture singapore ( 1 2 3... Last Page)
7,385 Replies, 2,323,756 Views
Lawyer Salary ( 1 2 3... Last Page)
21,013 Replies, 10,328,502 Views
HTX (Home Team Science and... ( 1 2 3... Last Page)
752 Replies, 358,242 Views
Shopee fresh grad pay ( 1 2 3... Last Page)
1,049 Replies, 440,468 Views
DSTA (under Mindef) ( 1 2 3... Last Page)
1,464 Replies, 1,375,056 Views
ST Electronics ( 1 2 3... Last Page)
3,767 Replies, 1,544,381 Views
IMDA (under MCI) ( 1 2 3... Last Page)
1,260 Replies, 613,473 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
6,123 Replies, 3,738,337 Views
MX12 reappointed at MX11
8 Replies, 794 Views
Hospital (Private or Public)... ( 1 2 3... Last Page)
749 Replies, 405,447 Views
NCS (SingTel subsidiary) ( 1 2 3... Last Page)
1,329 Replies, 1,142,002 Views
MFA- Foreign Service... ( 1 2 3... Last Page)
54 Replies, 84,947 Views
Cybersecurity/Info security career ( 1 2 3... Last Page)
511 Replies, 268,531 Views
Singapore Airlines ( 1 2 3)
22 Replies, 11,272 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 12:08 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2