Family financial obligations and caregiving responsibilities are making it harder for many Singapore adults to prepare for later life, according to the Manulife Asia Care Survey 2026. The survey of 1,074 respondents found that while 92% want to remain self-sufficient as they age, many are delaying financial and health planning because of their family commitments.
About half (46%) of respondents said they have family financial responsibilities, with 62% saying these obligations affect their ability to achieve long-term financial readiness. The pressure is greatest among younger adults, with 81% of those aged 18 to 24 and 75% of those aged 25 to 34 reporting that family commitments have hindered their financial planning. Respondents under 35 also spend an average of 40% of their monthly income supporting family members.
The report found that while Singaporeans are aware of the importance of preparing for longer lifespans, many in the city-state have yet to take action. Although 89% believe earlier and more comprehensive planning is necessary, only half undergo annual health screenings, while fewer than 40% maintain regular exercise routines and a balanced diet. Among respondents aged 18 to 24, 73% said they had delayed seeking medical care because of caregiving responsibilities.
The survey also highlighted persistent concerns over retirement finances. Nearly eight in 10 respondents said they worry about outliving their savings, while 70% are concerned about whether they will be able to afford future care needs. Although personal savings remain the main source of retirement funding for 78% of respondents, more Singaporeans are looking beyond savings by diversifying their investments. Around 43% are investing across different asset classes, while 34% are turning to income-generating investments to help secure a steadier income in retirement.
Manulife Singapore Chief Executive Officer Benoit Meslet said many Singaporeans are balancing the demands of supporting their families while planning for their own future, resulting in difficult trade-offs. He said helping customers take small, consistent steps towards improving their financial and physical wellbeing will be key to enabling greater independence in later life.