Rethinking Retirement: How digital technologies and COVID-19 are reshaping the way Singaporeans approach retirement

Executive summary

The COVID-19 pandemic has impacted all aspects of people’s lives, disrupting schedules and changing plans. Like many others around the world, Singaporeans have had to embrace a different normal. This pandemic has also led many to re-evaluate their long-term plans, creating an impetus to think about retirement.

To understand the pulse of the nation, Fullerton Fund Management surveyed Singaporeans to better understand their evolving aspirations, expectations, and priorities when it comes to financial management and retirement planning.

Four key findings stood out when examining Singaporeans’ changing habits, perceptions, and attitudes in a post-pandemic world:

  • Singaporeans are re-defining the whole idea of retirement and how to get there
  • COVID-19 pandemic has triggered Singaporeans to plan for the future
  • Understanding of risk and return is evolving; Singaporeans look to investment to generate retirement income
  • Growing importance of digital tools