OCBC sees more taking first step in financial planning

Singapore

SINGAPORE might be a well-developed financial centre, but consumers here remain daunted by the effort it seems to take to plan their finances.

This fear of financial planning has an impact on their financial well-being. About 75 per cent of Singaporeans are not on track to their ideal retirement and only 28 per cent save a portion of their salary every month, recent data from OCBC's Financial Wellness Index showed.