56% of assets will dry up immediately.
According to HSBC's recent study the Future of Retirement: A New Reality, future retirees in Singapore face the grim prospect of their retirement savings running out halfway through their retirement, as they estimate their savings to cover only nine out of the 17 years they expect to live in retirement.
This is also the case in Asia and globally where on overall average, retirement assets dry up just over half-way (56%) through retirement.
During the remaining eight years depleted of retirement savings, they are left to grapple with rising healthcare costs and other burdens associated with old age as they transition from active retirement into the years of frail retirement.
More From Singapore Business Review