Commentary: How super-aged Singapore should think about financial security
CNA · Daniel Mahadzir ·
With much of their wealth tied up in housing and CPF savings, ageing households need to consider whether they have sufficient financial buffers to weather unexpected shocks, say Duke-NUS’ Daniel Mahadzir and NUS’ Stanley Sia.
With much of their wealth tied up in housing and CPF savings, ageing households need to consider whether they have sufficient financial buffers to weather unexpected shocks, say Duke-NUS’ Daniel Mahadzir and NUS’ Stanley Sia.
SINGAPORE: Earlier this year, Singapore released data on household wealth for the first time, providing a more complete picture than household income data alone.
Though real incomes have grown in the last decade, a significant portion of household wealth is held in housing and Central Provident Fund (CPF) savings, especially among lower- and middle-income households. Those two relatively constrained asset pools account for about 90 per cent of total wealth in lower-wealth households, and around 80 per cent to 85 per cent even for a middle household.