Singapore macro-level retirement shortfall model.
Chen, Wilson Ziwen.
Tan, Shu Yuan.
Yee, Edward Yuanlong.
Date of Issue2008
College of Business (Nanyang Business School)
We examine the Retirement Shortfall amount required for the Total Working Population. Our model incorporates the average yearly Household Expenditure, Income, Liability, as well as Mid-Life Household Medical Expenditure. Our model forecasts that the Shortfall amount in Retirement amounts to over a million dollars, which is consistent with other industry findings. Overall, the prediction is on a macro-level basis with the goal of capturing a representative household’s living standard in Singapore and the amount required to maintain their standard of living during retirement. Therefore, the Retirement Shortfall is forecasted using household statistics instead of personal consumption needs. Finally, this report analyses recommendations, reasons and solutions in bridging the Shortfall Amount.
Final Year Project (FYP)
Nanyang Technological University