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Singapore kicked out of top countries for retirees
It ranked fourth to the last for income equality.
When it comes to retiring, Singapore may not be the best place to put your feet up after years of hard work. It fell two spots in Natixis Global Asset Management’s Global Retirement Index when it placed 27th this year.
Whilst the country has the highest scores for employment and income per capita, it is fourth to the last for income equality.
The Index used 18 measures in four sub-indexes, Health, Finances in Retirement, Quality of Life, and Material Well Being, that measure the life of retirees in 43 countries.
The ranking drop was offset by mixed results for Singapore in the other sub-indexes.
Amongst Asia Pacific countries, Singapore retirees enjoy the best financial support, giving the country one of the highest scores for Finances in Retirement sub-index.
Whilst Singapore is fifth in life expectancy rankings, it places second to last in the insured health expenditure indicator, which is covered by insurance.
Natixis researchers said the strong financial support for retirees in Singapore and the Asia Pacific can be attributed to stable government financing.
Madeline Ho, executive managing director, head of wholesale fund distribution, Asia Pacific for Natixis Global Asset Management, said, “It’s important for investors to take on a more active role in planning their retirement to ensure that they will be able to meet and maintain their desired quality of life when they retire.”
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