Spotlight on options to supplement income in retirement as super-ageing looms in S’pore

Quick Summary:

Private annuity plans and schemes such as a housing lease buyback programme can help supplement income.

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.

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.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Population Annuity Singapore Months First 99/month Unlimited Access Schemes Stories Subscriber-only

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-15 @ 05:01:00 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 197 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 18 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 21256843

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About The Straits Times

Main Topics: EconomyBusiness

Official Website: straitstimes.com

Update Frequency: 5 posts per day

Year Established: 1845

Headquarters: Singapore

News Last Updated: 6 hours ago

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Publisher ID: #25

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