Saving for retirement in S'pore now takes 9 years more than before

Singapore

IT now takes the average Singaporean nine more years to build up his or her retirement nest egg than it did in the past.

A report by HSBC titled "Future of Retirement: Generations and Journeys" has found that the average Singaporean starts saving for retirement at age 32 and continues for the next 29 years; their predecessors started doing so only at age 39, and saved for an average of 20 years.

The poll, the findings of which were released on Wednesday, had sought the views of more than 18,000 people in 17 countries last September and Oct…