Prudential: Gen Zs Optimistic About Retirement Without Plan
Generation Z are confident that they can retire well and sometimes early, despite most admitting they have no plan in place, according to a survey by Prudential.
More than half (51 percent) or Generation Z individuals in Singapore aged 16 to 28 are confident they will be able to retire well and pay for their daily necessities, healthcare and other expenses, according to a survey by Prudential. This group is more optimistic compared to Millennials (45 percent) and Gen Xs (38 percent).
54 percent expect to retire by 60 years old while 20 percent aim to do so by 50. 22 percent are also keen on having multiple «micro-retirements».
Saving Later
However, 72 percent of Gen Zs claim that they do not have a retirement plan. The report said many are focused on growing their earning power, as they are mostly students, and prefer to begin saving for retirement later when they have more disposable income.
«Gen Zs are confident about the next 60 years because they have grown up in a nation that has flourished and provided them with the opportunities to thrive. They are go-getters who are willing to work hard while they are young to cultivate multiple income streams, but they want to do so on their own terms, with frequent travel and breaks,» said Jeff Ang, CEO of Prudential Financial Advisers Singapore.
«While it is easy to delay retirement planning when you are focused on earning, it is important to boost your financial power by seeking financial advice early.»
The report entitled SG60 Financial Future Poll is based on a survey commissioned by Prudential of 1,000 Singapore residents aged 17 to 76 in July 2025.
