Two-thirds of Singaporeans thinking of retiring abroad
Nearly two-thirds of Singaporeans are thinking of retiring abroad, attracted by a slower pace of life and lower cost of living, a published survey said on Thursday. The Tsao Foundation, a non-profit group dedicated to helping the elderly, queried 300 people aged 21 to 55. The yearning to retire abroad was highest among those aged 21 to 34. In the 45 to 55 age group, one in two had considered spending their retirement overseas, said the findings in The Straits Times. Australia is a popular destination, and Malaysia is also housing a sizeable number of retirees from the city-state. "What struck me was that so many young people thought of growing old abroad," Mary Ann Tsao , the foundation's president, was quoted as saying. The study also revealed that 92 per cent of respondents do not expect to live with their children in their old age. "This is surprising considering we are an Asian society where children have lived with their old parents for thousands of years," Tsao said. Many seniors said they fear becoming a burden to their offspring and do not expect support from them, the dpa reported.