Singlife has announced a new partnership with the Singapore Management University (SMU) to collaborate on retirement readiness research and support the development of actuarial science talent in Singapore, as the nation navigates the challenges of a rapidly ageing population.
Under the Memorandum of Understanding signed at the launch of SMU’s Longevity Societies and Economies Institute (LSEI) on 14 April, Singlife and SMU will work together on research focused on retirement adequacy, including the level of savings required amid rising healthcare costs and longer lifespans. The partnership will bring together SMU’s academic perspectives, research frameworks and global best practices and Singlife’s customer insights and industry expertise, with the aim of translating findings into practical, real-world solutions for Singaporeans. Findings from the collaboration will be published in a joint white paper in the second half of 2027.
Beyond research, both organisations will also explore opportunities to nurture the next generation of actuarial science talent through scholarships, internships and training initiatives.
The collaboration comes amid growing retirement challenges in Singapore. The Singlife Financial Freedom Index 2024 found that 71% of respondents do not feel confident they can retire whenever they choose. While four in five aim to retire by age 65, they estimate needing a median of S$2,856 per month for daily expenses in retirement, compared to median monthly savings of S$1,682.
This partnership is part of a broader effort by LSEI to establish strategic partnerships across government, academia, society and the economy to address complex challenges, and Singlife’s participation reflects how a multi-faceted, whole-of-society approach can work to advance solutions in areas such as retirement adequacy, improving health spans, and ageing well and in place.