New Financial and Retirement Planning Campaign Launches in Singapore

Singapore has recently launched the 2024 campaign, aimed at empowering individuals to take charge of their financial futures. The initiative offers accessible and actionable tips on saving, budgeting, healthcare costs, and retirement planning to Singaporeans.

On October 1, 2024, Singapore’s Central Provident Fund (CPF) Board and MoneySense launched the 2024 joint retirement planning campaign, a campaign designed to empower and educate individuals in the importance of personal financial and retirement planning.

The joint retirement campaign will run until 31 December 2024 and aims to allow Singaporeans access to easy-to-understand and actionable tips to help them in the first steps to taking control over their financial and retirement planning.

Under the thematic tagline of ‘Make every day matter. Find your financial calm.’, the campaign seeks to inspire Singaporeans to proactively manage their financial well-being by initiating small but impactful steps today.

Based on the MoneySense National Financial Capability Survey 2023, 51% of Singapore residents have developed a plan for retirement savings in 2023. While this number has grown compared to the 46% in 2021, it still reflects room for improvement.

In regards to the data in the 2023 survey, Jeremy Huang, Director, Financial Planning Programme Department, Ministry of Manpower, commented:

“They point to a growing awareness and action on financial and retirement planning. We look forward to continuing to work with the CPF Board in helping Singaporeans make well-informed financial decisions, and prepare and plan their finances and retirement well.”

Peh er Yan, Group Director, Communications & Engagement Group at CPF Board, also commented:

“Our goal is to empower Singaporeans to optimize their financial health and actively plan for their retirement by fostering continued conversations on financial mindfulness and encouraging small actions today that can have a significant cumulative impact in the future.”

Singapore has been voted the third-best place to grow generational wealth in the world. As the country propels its citizens towards financial resilience and retirement security, this campaign stands as a beacon of financial empowerment, urging individuals to seize control of their financial destinies today for a more secure tomorrow.

There are many ways you can cut costs to contribute to your personal financial planning. One way is to secure comprehensive health insurance to protect yourself from unforeseen medical fees. If you are looking for a health insurance plan that suits you, Pacific Prime CXA can help you.

With over 20 years of experience in the insurance industry, our professional team of advisors is happy to help you find the right plan so you can get the coverage you need while staying within your budget.

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Vista is a content creator at Pacific Prime. With over 8 years of writing experience for online platforms on various topics such as luxury lifestyle and digital entertainment. He enjoys diving into complex and otherwise confusing topics, and creating easy-to-understand content for the readers to help them navigate through the topic – something that’s perfectly aligned with Pacific Prime’s motto of ‘simplifying insurance’.

Born and raised in the cultural melting pot that is Hong Kong, and having studied at an international school, Vista has developed a multicultural perspective that he uses in his writing and strives to connect to people of different backgrounds.

In his free time, Vista enjoys immersing himself in different worlds, from video games to light novels and movies. His hobbies help him expand his writing style by putting himself in the point-of-view of different people and characters.