DBS, Singapore's largest consumer bank, is developing sophisticated capabilities to help Singaporeans plan for retirement and manage the risks of outliving resources or savings. With rising inflation as a significant risk, the bank aims to start customers on retirement planning early.
As the average life expectancy of people in Singapore increases, so too does the need for retirement planning . Being Singapore ’s largest consumer bank , DBS is on a mission to help people realise their ideal lifestyles after retirement, by developing sophisticated capabilities that effectively map out personalised and trackable financial plans for each customer.
With one in four Singaporeans slated to turn 65 years old by 2030, the bank believes in starting its customers on retirement planning early, says Mr Nelson Neo, head of the retail consumer segment at DBS. “The longevity (of Singaporeans) creates the need to manage risks of outliving resources or savings for individuals,” he says, highlighting rising inflation as a “significant risk on individual cash flow
DBS Bank Singapore Retirement Planning Financial Plans Life Expectancy Inflation Consumer Bank