There is a growing trend towards intergenerational wealth transfer, with 77% of Singaporeans prioritising leaving a financial legacy to future generations according to a new report by Etiqa Insurance Singapore.
The new 17-page Wealth Transfers Insights Report 2025 reveals that with two-thirds of Singaporeans having either received, transferred or expect to receive or transfer their wealth, a commitment that is most pronounced among those aged 55 and above (74%) is proactive wealth planning and management. This trend seems to be more crucial than ever for Singaporeans.
The report findings say that 77% of Singaporeans prioritise leaving a financial legacy to future generations and two-thirds of Singaporeans having either received, transferred or expect to receive or transfer their wealth.
Further, 78% of Singaporeans aged 55 years and above prioritise the importance of discussing inheritance matters with their families, signalling a clear cultural shift toward open and proactive legacy planning. This reflects a broader societal shift towards greater transparency and responsibility in legacy planning, as older Singaporeans recognise the importance of wealth transfer conversations before one’s passing.
Over half of Singaporeans surveyed (53%) have either received or expect to receive an inheritance. This expectation is even higher among younger Singaporeans, with 62% under the age of 24 expecting to receive an inheritance. This indicates the need for early financial literacy and planning to ensure wealth is managed effectively.
Among Singaporeans who expect to receive or give an inheritance, one in five anticipate a windfall of $1m or more. With large sums potentially involved, financial education becomes key, and recipients need financial planning and management to manage this wealth.
Among Singaporeans who have received their inheritance, 53% believe the inheritance plays a critical role in their long-term financial stability. In contrast only 35% of Singaporeans who have yet to receive an inheritance see it as critical factor that ensures their long-term financial stability. As the true value of an inheritance often becomes clear only after it is received, proactive financial guidance is essential to help individuals integrate it effectively into their long-term financial goals.
About half of Singaporeans surveyed (49%) actively use insurance as an instrument for wealth transfer, recognising it as an effective method for legacy planning beyond basic protection.
Etiqa Insurance Singapore CEO Raymond Ong said, “Our Wealth Transfer Insights Report findings indicate that wealth transfer is increasingly viewed not just as a financial event, but as a purposeful act of next generation empowerment.
” It is heartening that Singaporeans are having conversations about wealth planning through open family dialogue and meticulous planning, fundamental to ensuring financial well-being of their families.”