Research on Successful Ageing said only 27% have a “robust retirement plan.”According to ROSA’s study, 27.83% of young seniors do not have a retirement plan, with the remaining 50% having a retirement plan.
However, one in four said they slightly disagree or disagree that their retirement savings are on track and over 36% of participants felt that they slightly disagree or disagree that they have enough endowment plans needed for retirement. “The Majulah Package is designed to assist low and middle-income individuals through means-tested criteria based on income, residence value, and savings,” read the report.The study suggests that policymakers and researchers need to consider the changing meaning of work and retirement and consider broader psycho-social implications.