The survey shows that for a variety of reasons, the age of retirement in the Asian city-state – which is due to rise this year – does not mean the end of a working life, as far as many Singapore residents are concerned.

A clear (73 per cent) majority of Singapore residents expect to keep working beyond retirement age and that balance is even higher (80 per cent) for those at the wealthier end of the spectrum, a survey from Sun Life finds.

Sun Life sampled a total of 3,006 people in Hong Kong, Indonesia, Malaysia, Singapore, the Philippines and Vietnam in November last year. 

Across Asia, 69 per cent expect to work after reaching retirement age, often by choice: many want to stay in work due to a desire for purpose and fulfilment (49 per cent), maintaining social connections (47 per cent), and mental stimulation (41 per cent). A majority (81 per cent) believe that retirement should be a personal choice rather than a mandatory age. 

The survey is titled Retirement Reimagined: Asia’s Retirement Divide.

In the Singaporean segment of those interviewed, a desire to work beyond retirement age can highlight attitudes towards flexibility and wellbeing, as high-income respondents cite mental stimulation (62 per cent), maintaining social connections (52 per cent), and purpose and fulfilment (52 per cent) as reasons to stay in work. For others, it reflects a financial strain as nearly half of high-income respondents (48 per cent) say they need more income to support their daily living and long-term financial security. 

As of 2026, Singapore's minimum retirement age is 63, with a re-employment age of 68. These will increase to 64 and 69, respectively, starting 1 July 2026.

β€œFor those who are prepared, working longer can be a choice that offers flexibility and freedom. For others, it reflects financial pressure. Planning early, and planning holistically, is what determines which path people are on,” Christopher Albrecht, CEO, Sun Life Singapore, said. 

Having financial security is at the heart of optimism about retirement. Among high-income non-retirees who say they are looking forward to their golden years, 50 per cent cite financial security as a reason, followed by freedom and flexibility (33 per cent) and stability (26 per cent).  

However, rising cost pressures continue to bite and cause retirement stress. Nearly half of high-income respondents (49 per cent) cite uncertainty about future expenses as a barrier when it comes to retirement planning, followed by 42 per cent with concerns about inflation or economy uncertainty.