Healthcare expenses are a concern for the majority of Singapore’s residents, according to the AIA Live Better Study.
The study which surveyed 1,000 Singaporean residents found 50% claimed to be financially stable, with those in their 40s expressing the most negativity towards retirement – 29% had a negative outlook.
Key worries cited included managing cost of living (62%), but also healthcare expenses (54%).
Physical wellness also ranked highly, with 46% citing it as the top factor behind a happy retirement.
However, two in five (40%) foresaw spending time managing healthcare conditions, particularly among young seniors (45%).
The study also revealed a substantial portion of residents remain unprepared across crucial areas, including long-term care – 17% have not considered it – and insurance coverage – 14% have not considered it.
There was also a slight dip in overall holistic wellness – from 61.5% to 60.3% – compared to last year’s survey, highlighting persistent challenges for Singapore residents across mental, social, financial, and physical wellbeing.
Irma Hadikusuma, chief marketing and healthcare officer at AIA Singapore, said: “Singapore residents are increasingly envisioning a purposeful and active post-career life, yet our study reveals many are not adequately preparing for this new reality.
“This highlights critical areas where more support and education are needed – particularly around financial readiness, physical health, and crucially, the often-overlooked power of social connections – all vital pillars for the holistic well-being the government also champions.”