• 39% of Singaporeans are worried about retirement inadequacy, with women being at higher risk of retirement inadequacy than men
• 72% of Singaporeans desire higher returns for their investments, but despite that, only 25% are currently investing their CPF
• 31% of Singaporeans have indicated that they would like assistance in the form of tools to help them understand the impact of financial decisions around CPF
  SINGAPORE, Aug. 4, 2021 /PRNewswire/ — The Endowus Singapore Retirement Report reveals that retirement inadequacy remains a concern for over a third of all Singaporeans, with a significant number having yet to start financial planning aimed at retirement.

According to the survey, while 1 in 2 Singaporeans are planning to utilise their Central Provident Fund (CPF) monies to fund their retirement, even fewer (25%) have considered supplementing their retirement funds through investing, consistent with CPF Board’s statistics on CPF investment take up rate1. In that, a majority of respondents have indicated the need for additional tools to help them start planning to chart their path to retirement adequacy.

The Endowus Singapore Retirement Report was commissioned by Endowus — one of Singapore’s leading MAS-licensed investment platforms and the first and only digital advisor for CPF investing — with the objective of better understanding Singaporean attitudes towards the generational challenge of retirement and the role that CPF monies play in building a retirement lifestyle that is closer to individual goals.

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