Longevity is a blessing, but living longer can also mean having to stretch your nest egg further.

This is particularly true in Singapore where life expectancy, at 83.5, is one of the highest globally. At the same time, the city-state’s population is ageing rapidly, meaning there will be fewer young people to support the elderly in the future.

According to the Department of Statistics’ Population Trends 2025 report, the proportion of residents aged 65 years and above rose to 18.8 per cent in 2025 from 11.8 per cent in 2015.

While Singaporeans are generally upbeat about their financial futures, a survey conducted by European asset manager Amundi found that the reality may not reflect their optimism.

Amundi’s “Decoding Digital Investments” survey, conducted in the first half of 2025, covered over 4,000 respondents in Asia, including 475 in Singapore.

The findings point to a striking disconnect between confidence and actual preparedness. Although eight in 10 reported feeling confident about their long-term financial plans, less than a quarter believe they were on track to achieve their required retirement income.

This disconnect was most pronounced among those aged 31 to 40, with just 15 per cent saying they were on track – even though most reported having financial plans in place.

This gap is not due to a lack of confidence. Among Singapore respondents, 79 per cent said they were certain that they had made the right savings and investment decisions. Almost all reported having a long-term financial plan in place: 59 per cent claimed they had a well-developed strategy, while another 39 per cent said they had a loosely developed plan.

It is when investors are forced to calculate the actual costs of retirement, that this optimism is tested, Amundi observed.

Says Mr Dominic Byrne, global head of Retirement Solutions at Amundi: “Confidence alone isn’t preparedness. Our partners help people set and regularly review clear targets so that confidence is converted into a resilient long-term financial plan.

“This work is vital as macroeconomic and demographic headwinds – from rising costs and longer lifespans – intensify the need for retirement readiness.”

Encouragingly, the survey suggests that financial planning is gaining traction among younger Singaporeans.

The report found that younger Singaporeans – Gen Zs and younger millennials in particular – appear to be among the most proactive financial planners. They lead all age groups, with 63 per cent of those aged 21 to 30 saying they already have a well-developed long-term financial plan.

Yet this early start does not mean retiring early.

In fact, young Singaporeans anticipate working longer than their peers elsewhere in Asia. More than half of respondents aged 21 to 30 in Singapore said they expect to retire between the ages of 60 and 69. By contrast, 53 per cent of those in the same age group across the rest of Asia expect to stop full-time work before 60.

Shares Mr Albert Tse, chief executive officer of Amundi South Asia: “Rather than seeing later retirement as a setback, many young Singaporeans now view extended careers as a deliberate and positive choice to stay engaged and purposeful, to continuously upskill in a shifting labour market, and to steadily grow earnings and savings to meet rising living costs and fund a healthier, more active and fulfilling retirement.”

The survey also highlights how investment preferences shift across life stages.

Older respondents in the 51 to 60 age group tend to favour capital-preserving instruments such as savings accounts and certificates of deposit, aligning with their shorter runway to retirement and need for more stable income streams.

Younger adult Singaporeans below the age of 30, in contrast, placed more emphasis on higher-growth assets such as stocks, bonds and mutual funds, reflecting their longer time horizon and greater risk appetite.

Mr Tse adds: “While a longer time horizon allows for compounding growth and recovery after setbacks, it should not be regarded as a substitute for active management. For younger investors, higher‑growth allocations may be appropriate, while adaptable planning enables a gradual shift from accumulation to generating retirement income.”

The contrasting signals in Amundi’s findings – high confidence but low readiness – suggest that Singapore’s next phase of financial planning maturity will hinge on education and execution, not sentiment.

There is a significant role to play for digital and traditional providers. According to Amundi’s research, almost one in five investors in Singapore said they would invest more if they had greater access to education, and investors often cite the risk of losses and complex terminology as barriers to investing. The gap between perceived confidence and actual preparedness for retirement is stark, yet many investors still feel they are doing enough. This suggests a need for the industry to strengthen financial literacy as a way to improve retirement readiness.

Building a robust retirement plan involves creating a roadmap that adapts to changing circumstances such as a jump in salary or a pickup in inflation. Welcoming a child into the world and increasing financial support to elderly parents will also affect a person’s ability to save and invest.

As Amundi’s findings suggest, feeling prepared is not the same as being prepared. Turning longer lifespans into financially secure retirements may require investors to translate broad confidence into clearer, more concrete planning, ensuring their financial roadmaps are as enduring as the lives they are meant to support.

Beyond overall confidence levels, Amundi’s survey also sheds light on how Singaporeans are investing – and who is shaping their decisions. The findings highlight evolving behaviours, from the rise of online influencers to differing preferences between men and women, that are shaping how investors engage with markets.

“Fin-fluencers” play a bigger role in Asia

According to Amundi’s survey, more people in Asia are following online influencers (including those running financial blogs and podcasts) and bypassing traditional financial advisers.

Singaporeans hold less cryptocurrencies than their peers in Asia

Singapore investors are less likely to hold cryptocurrencies in their portfolios than their peers across Asia. Only 11 per cent of respondents in Singapore own cryptocurrency, compared with 17 per cent across the rest of Asia. Among those who do in Singapore, bitcoin and ethereum are the most commonly held digital assets.

Women prefer regular face time with advisers

Singapore women are more likely to have regular meetings with their investment advisers. Men are, however, more likely to use digital channels such as investment platforms and apps.

Women are more socially conscious investors

Singapore women are more concerned about their investments’ impact on the environment and society than men. They also pay more attention to green or sustainability factors when choosing an investment firm.

Learn how you can plan for your retirement with Amundi here.

Disclaimer

This publication is a paid collaboration between SPH Media Limited (Company Registration No. 202120748H) and Amundi Singapore Limited (Company Registration No. 198900774E). Amundi Singapore Limited is licensed and regulated by the Monetary Authority of Singapore.

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