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SINGAPORE – Singapore emerged the global top scorer in retirement finances this year, although it performed poorly for retirees’ quality of life and material well-being, according to an annual retirement security index released on Friday (Sept 20).
In the overall ranking, the city-state remained at 28th place out of 44 countries surveyed in the latest edition of the Global Retirement Index for 2019 by Natixis Investment Managers.
Retirement finances here refers to the soundness of a country’s financial system, the level of savings and investment, and the preservation of the purchasing power of savings.
Quality of life captures the level of happiness and fulfilment in a society, air quality, water and sanitation, biodiversity and habitat, as well as natural environment factors.
Among Asian countries, Singapore came in third for overall retirement security, behind Japan and South Korea, who took the 23rd and 24th spots respectively in the global ranking.
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