AIA Retirement Solutions
Singaporeans face an uncertain future by focusing mostly on their children's needs, neglecting their own. Whether you are a parent or not, planning for retirement is a priority for the present. A necessary step towards securing your definition of retirement – and spend your golden years, however you want.
Singaporeans have the world's longest life expectancy at 84.8 years old1. According to studies2 conducted, most Singaporeans plan to retire at the average age of 60, and this means at least 25 years of retirement income is required. Below are some insights on Singaporeans' retirement realities. Please refer to the full infographics here.
60%
face an uncertain future by not prioritising retirement planning
Less than 7%
Parents spend 20% of income on children, but less than 7% on retirement planning
66%
underestimated required retirement income by at least $967/month
Your retirement plan, tailored to your future needs
How much you require will depend on how you envision your retirement to be. With proper planning, retirement can be a thriving phase of life. But where will your retirement funds come from, and what do you need to keep in mind?
A holistic retirement plan considers your well-rounded health and wellbeing so you can enjoy retirement in good shape and avoid dipping into your retirement funds for medical needs if you're not adequately protected. Planning for your retirement doesn't only involve you. Leaving a legacy for your loved ones is also a factor to keep in mind.
All AIA savings and investment plans come with protection coverage. Some also offer additional optional coverage for critical illnesses as well as a waiver of future premiums, should the unforeseen occurs — ensuring plan continuity. Coupled with AIA Vitality, one of the most comprehensive wellness programmes in Singapore, we support you to make the right positive changes to improve your overall wellness through a wide spectrum of tools and benefits that target different aspects of your health.
Here are some plans for your consideration. Get in touch with us to start planning for your future.
Wealth acceleration
Wealth accumulation
Wealth acceleration
If you have the risk appetite for higher potential upside or have been investing in instruments such as stocks/equity, bonds, and property, you may wish to consider AIA investment-linked plans (ILP) — utilising dollar-cost averaging to invest in funds and boost your wealth.
Through selected AIA ILP, you may access exclusive portfolios backed by the expertise of AIA Investments — the investment arm of AIA Group. As one of the largest institutional investors in the region, AIA Investments not only has the experience and knowledge but also the scalability to strategically partner with leading global asset managers to deliver superior long-term sustainable results, giving you the assurance that your long-term financial needs will be met.
Wealth accumulation
Besides cash savings, CPF LIFE payouts, income stream or other liquid assets which provide a secure base of retirement income, you can also consider savings insurance plans that offer a combination of guaranteed returns and potential bonuses.
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Source
1The Straits Times, Jun 20, 2019: Singaporeans have world's longest life expectancy at 84.8 years
2Studies refer to
2Studies refer to
- 2AIA Retirement Quotient (RQ) survey which studied 1,000 members of the general Singapore population mid-March 2020,
- AIA Household Savings Behaviour Study 2021 which surveyed general consumers across eight markets – Hong Kong, China, Thailand, Malaysia, Vietnam, Indonesia, Philippines, and Singapore – in January 2021, and
- AIA360 Retirement Study 2021 which surveyed 331 customers in Singapore in June 2021, representing 1 in 4 Singapore Residents.
Important notes
These insurance plans are underwritten by AIA Singapore Private Limited (Reg. No. 201106386R) ("AIA"). All insurance applications are subject to AIA's underwriting and acceptance. Please seek professional financial advice from your AIA Financial Services Consultant or Insurance Representative before making a purchase.
This policy is protected under the Policy Owners' Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC web-sites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).
This advertisement has not been reviewed by the Monetary Authority of Singapore.
The information is correct as at 07 July 2021.