NOW the financial crisis has passed, people here are most
concerned with putting more cash aside for retirement and
rebuilding their savings, according to a new survey.
About 70 per cent of respondents believed their Central
Provident Fund (CPF) savings will provide only some or a little of
their retirement income.
Of this group, 70 per cent said they already had an alternative
plan to supplement their nest egg, although only 27 per cent of the
total number of respondents had a formal retirement plan.
The survey, commissioned by global financial services company
Citi, found that continuing to work and relying on insurance and
investments were the most popular ways chosen by people to add to
their retirement fund.
About 52 per cent indicated that they would continue to work as
long as possible. The same number also said they would rely on
insurance proceeds, while 51 per cent would turn to investment
products.
About 41 per cent said the total amount of their retirement
savings was still behind where it was two years ago, before the
crisis, while 45 per cent said this amount remained the same as it
was before the crisis.
-- ST
more bullshit propaganda from PAP...............70% of people
think they got enough $ to retire ???
you can even find 30% of people to believe that............
