[NEWS RELEASE] Singaporeans Turn Away from Retirement at Statutory Age and Embrace Flexible Retirement Models

Singapore, September 29, 2025 – T. Rowe Price, a global asset management firm and a leader in retirement investment management, announced the key findings of its 2025 Singapore Retirement Survey. The survey found that 70% of respondents prefer to retire based on their own personal plans rather than at a fixed statutory age, underscoring a strong shift toward flexible retirement approaches.

While nearly 60% believe they will need over S$1 million to retire comfortably in Singapore, only 35% say they are prepared to achieve their ideal retirement. This disparity highlights potential knowledge gaps and misaligned investment strategies that may hinder Singaporeans from reaching their retirement goals.

Over Two-thirds of Surveyed Working Singaporeans Prefer Flexible Retirement

T. Rowe Price conducted its first Singapore retirement survey in July 2025, polling 1,000 Singapore residents aged 18 and above. As a global leader in retirement investment management with over US$1.1 trillion in retirement-related assets under management³, the firm sought to understand how Singaporeans are redefining retirement and found that a striking majority (68%) of working Singaporeans prefer a flexible retirement approach. 

• Micro-retirement is gaining traction: Among respondents open to flexible models, 72% favor micro-retirement—taking short, intentional breaks between careers. Top motivations include maintaining work–life balance (65%), relieving work pressure (61%), and pursuing personal interests (53%). Majority of respondents believe micro-retirement is more suited to those above age 50 and should last less than a year. Many also recognize the financial commitment required, with 37% indicating they would want to have more than S$300,000 in assets before pursuing this path.
• Unretirement is also popular: 74% of those who prefer flexible models support unretirement—returning to work after the statutory retirement age. Staying mentally active (72%) ranks higher than maintaining income (62%) and easing financial pressure (48%) as the top motivation. 40% would consider returning to work within six months of retiring to seek part-time jobs in their original industry, and most are comfortable earning less during this period.

The desire for flexible retirement transcends age, gender, and income. Notably, more than half of respondents over 50 years old (52%) and those earning over S$7,000 per month (53%) find these innovative approaches appealing — challenging the perception that only the younger generation seek flexibility in shaping their retirement approaches. 

Singaporeans Lack Sufficient Investment Planning for Flexible Retirement

Despite strong interest in flexible retirement, confidence lags. Two in three respondents (67%) are unfamiliar with retirement products available in the market, highlighting a knowledge gap that could contribute to why 30% of those preferring flexible retirement say they are unprepared to move towards their ideal retirement. 

Additionally, although 66% have a savings goal and 70% say they are comfortable with medium to high investment risk, many still rely primarily on time deposits and bank savings—options that may not support the growth needed for a secure retirement. Furthermore, 73% prefer products that reduce investment risk as retirement approaches. While this is a defining feature of retirement glide paths, 87% are unfamiliar with this investment framework. 

“The disconnect between retirement aspirations and investment planning underscores the importance of financial education in risk management, as well as the need for investment approaches that balance growth and stability throughout different stages of life,” said Thomas Poullaouec, Portfolio Manager and Head of Global Investment Solutions, APAC, at T. Rowe Price. “One proven approach is the retirement glide path, widely used in mature retirement markets such as the U.S. Glide paths dynamically adjust asset allocation between equities and fixed income based on the number of years before and after expected retirement, offering a flexible framework to navigate market uncertainties and seek long-term growth. This structured method could be relevant for Singaporeans exploring flexible retirement paths.”

“Singaporeans are embracing the global shift toward flexible retirement models, yet many remain uncertain about achieving their retirement goals and navigating complex challenges such as longevity risk, inflation, and market volatility,” said Glen Lee, Head of Asia ex Japan Intermediary Distribution and Singapore CEO at T. Rowe Price. “With over 20 years of retirement investment experience, T. Rowe Price is committed to advancing retirement education and bringing our retirement solutions to Singapore, empowering Singaporeans to tailor retirement journeys that reflect their individual aspirations and lifestyles.”