22 Sep '14, 10am

Thrift among S'pore's retiree population emerged in data from the latest Household Expenditure Survey

Thrift among S'pore's retiree population emerged in data from the latest Household Expenditure Survey

For the first time, the survey included statistics on retiree households, defined as households comprising only non-working people aged 60 years and over - PHOTO: SPH A SOMEWHAT surprising picture of thrift among Singapore's retiree population emerged in data from the latest Household Expenditure Survey released by the Department of Statistics on Thursday. For the first time, the survey included statistics on retiree households, defined as households comprising only non-working people aged 60 years and over. Retirees' expenses vary a lot but, on the whole, they spend a few thousand dollars at the most each month; more typically, the amount is a moderate S$1,000 . Perhaps needs are simpler when one is older. The statistics debunk a fashionable assertion that "even S$1 million is not enough to retire on" or that you must target to have a retirement income that is 70 per cent...

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