Singapore has the most millionaires per capita in the world, but people who have a hard time retiring not so rich.
The Southeast Asian city-state Singapore the highest percentage of millionaires in the world can boast, but in this wealthy financial retirement is still more difficult for ordinary people.
According to a recent study by HSBC, the citizens of this country, which has one of the highest per capita income in the world, face of the grim prospect of their savings nearly halfway eats by resignation as the high cost of living and rising life expectancy in their nest egg.
Singapore has company ranking the world's most expensive cities gradually HR Mercer global, debuted at number 6 in the year 2012 by eighth-note 2011 and 11th move.
"There is cause for concern by noting that pension runs from people in Singapore, after nine years, that's about the time they occur in frail seniors and a stage of their life, when medical costs and other expenses of care for the elderly will likely rise," Paul Arrowsmith, head of retail banking and wealth management, HSBC Singapore, said a report published this year.
"People are living longer and longer, increased through tougher economic times and expectations with regard to the standard of living in retirement," Arrowsmith added.
More than half of 1,000 Singaporeans who interviewed, said that either she do not sufficiently prepared or were not prepared at all for retirement for the study as they expected continue also over the age of 65, to be able to afford their desired lifestyle.
You need to pay more money for their retirement in Singapore. According to the study, the annual household income is required to complete a "convenient" secluded life in Singapore the third highest among the major economies in Asia, behind Australia and Hong Kong, at $48.773. This number is found for eight years running to 68% higher than in the year 2011, that poll was asked.
Tan has worried about her retirement 58-year-old Singapore Janice the rising cost of living in Singapore.
"I think that cost of living is really much escalated," said Tan CNBC. "During the Chinese new year season, when I went to buy the good stuff, it really shocked me, because the cost will be really fast."
At the time the education of her two children, including a 21-year-old daughter study for Tan and her husband figures in Perth, Australia. During Tan, professional management hopes soon go into retirement, she says that she knows that it could be another 10 years before that happens.
"As human beings want to we more - a more enjoyable life. Thats where coming in, who cares whether you will be able to survive, "Tan said.
According to the study, which does not save for retirement, nearly half said they were held back by the cost of daily living.
High costs have become a major cause of dissatisfaction among the residents of Singapore. This prompted a rare protest in which about 3,000 people took part. They were concerns about swelling costs, driven by an influx of foreigners speak.
Foreigners, who make up nearly 40% of Singapore's 5.3 million people, have to drive responsible have been madereal estate prices and jobs in one of the large business centers in Asia.
The top three fears about retirement were cited by Singaporeans poor health, financial hardship and does not have enough money, to provide good health care according to the study.
Retirement savings that funding could be a great burden to a time when the Singaporeans are particularly vulnerable to health problems, dehydration, medical bills, said HSBC.
Tan behind this feeling to say that her husband had medical bills from a motorcycle accident last year was their public finances.
"As we get older, I realize it to sort [financing of health-care costs] an important thing, is," Tan said. However, the high cost of living in the way. "I can not imagine how much more is expected to increase the cost of living," she added.
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