The Gen XY Lifestyle
Retiring with Dignity: Singapore Consumers Shift Focus to Quality of Life Over Longevity
According to Manulife’s latest survey, Singaporeans want more than just long lives — they want lives with health, purpose and financial independence.
What does living well into your later years really mean? For many Singapore consumers, it’s not just about reaching an older age — it’s about enjoying life meaningfully along the way.
According to the Manulife Asia Care Survey 2025, a major shift in mindset is underway. In place of chasing longevity, more people are prioritising quality of life, with a strong desire to stay active, feel secure, and retire with dignity.
A Refined View of Longevity
Traditionally, longevity has been seen as the number of years lived. But for today’s Singapore consumers, it’s defined by good health, personal meaning, and financial freedom. When asked about their top wish in older age, only six percent hoped for a longer lifespan. Instead, twenty-four percent prioritised staying active and enjoying life.
The desire to live with dignity is particularly strong in Singapore. 43 percent of respondents want to avoid prolonged periods of chronic illness, compared to just 31 percent regionally. It’s clear: ageing well now means ageing with intention.
What Does Retirement with Dignity Really Mean?
Retiring with dignity is the ability to step away from work without sacrificing quality of life. It combines:
- Financial independence — so you’re not reliant on others for support
- Physical and mental wellbeing — to stay active and engaged
- Peace of mind — through insurance or support systems that reduce stress about health or emergencies
- Meaningful living — whether that’s leisure, purpose-driven routines, or spending time with loved ones
This vision of retirement is less about comfort alone, and more about personal empowerment.
A Financial Reality Check
While the desire for a dignified retirement is strong, the financial reality shows gaps. Many Singapore consumers still lean heavily on cash savings, with 35 percent citing it as their main retirement resource. The Central Provident Fund is next at 22 percent, followed by property investment at 19 percent.
But as inflation rises and life expectancy extends, cash may not stretch far enough. 45 percent plan to use their own retirement savings to support ageing parents, and 44 percent say they’ll continue working for as long as they’re able.
The shift is happening, though:
- 51 percent acknowledge the need to diversify investments for higher potential returns
- 58 percent are more open to investing idle cash for sustainable income
- 49 percent want steady income streams from their pension providers
Koh Hui-Jian, Chief Executive Officer of Manulife Investments Singapore, explains: “The key is to start early and stay invested, even into retirement years. Returns generated can be reinvested to fuel the recurring income needed for true financial freedom.”
Insurance Gaps and the Cost of Delay
Financial wellbeing and physical health are tightly connected — seventy-two percent of respondents said one affects the other. Yet insurance uptake remains low:
- Only 35 percent have critical illness cover
- 41 percent have life protection
- Just 15 percent hold disability insurance
Worryingly, 30 percent say they do not plan to take up any insurance in the next two years.
Mark Czajkowski, Chief Marketing Officer of Manulife Singapore, highlights, “We want to help people live better lives — not just longer ones. As we age, conversations about coverage, wellbeing and longevity become more urgent. Insurance is not just a financial tool. It’s peace of mind.”
A Future Built on Holistic Wellbeing
Singapore consumers increasingly recognise that preparing for later life isn’t just about saving money — it’s about shaping a lifestyle. With greater awareness around wellness, investment diversification and insurance protection, a better future is possible — not just in years lived, but in how those years are experienced.
For more insights from the survey and tools to take charge of your own retirement journey, visit the website at – https://www.manulife.com.sg/en/campaign/asia-care-survey-2025.
Photos by Harli Marten and by Towfiqu barbhuiya on Unsplash
