The Dream of Early Retirement in Singapore: A Practical Guide

Singapore, with its robust economy and high standard of living, is a dream destination for many. But with rising costs, the dream of early retirement here might seem elusive. Let’s explore the practicalities of retiring early in the Lion City.

Understanding the Financials of Retirement in Singapore

Retirement planning in Singapore involves a combination of CPF savings and personal savings. Let’s break down the numbers:

1. CPF Retirement Sums

For Singaporeans turning 55 in 2023, the CPF retirement sums are as follows:

Basic Retirement Sum (BRS): S$99,400. This amount is set for those who own a property and have an adequate housing provision.

Full Retirement Sum (FRS): S$198,800. This is essentially double the BRS and is for those who do not own a property.

Enhanced Retirement Sum (ERS): S$298,200. This is for those who wish to have higher monthly payouts during retirement.

For a more detailed understanding, you can refer to What is the CPF retirement sum?

2. Personal Savings for Retirement

Based on a study from the Lee Kuan Yew School of Public Policy, the minimum amount a senior needs for a basic standard of living in Singapore is about S$1,400 a month. This translates to S$16,800 annually. If we consider a retirement period of 20 years (from age 65 to 85), the estimated savings needed would be S$336,000. This is a baseline figure, and the actual amount might vary based on individual preferences and unforeseen expenses.

3. Total Estimated Amount for Retirement

Combining the CPF retirement sums and personal savings, the total estimated amount for a comfortable retirement in Singapore would range from S$435,400 (BRS + Personal Savings) to S$634,200 (ERS + Personal Savings).

Fast-Tracking Your Retirement Goals

The fastest way to retire early is a combination of aggressive saving, wise investments, and reducing unnecessary expenses. Consider:

  • Maximizing CPF Contributions: Regularly top up your CPF accounts to benefit from the government’s interest rates.
  • Diversifying Investments: Don’t put all your eggs in one basket. Spread your investments across stocks, bonds, and real estate.
  • Living Below Your Means: Adopt a frugal lifestyle, cutting out luxuries and focusing on necessities.

The Singaporean Retirement Landscape

While the official retirement age in Singapore is 62, many Singaporeans continue working beyond this age due to financial needs or personal choice. However, with proper planning and discipline, retiring early is achievable. 

The Feasibility of Retiring at 50

Retiring at 50 in Singapore is ambitious but possible. It requires early financial planning, disciplined saving from a young age, and making informed financial decisions throughout one’s working life. It’s also essential to remain debt-free, especially from high-interest liabilities. If you’re considering financial strategies to achieve this goal, Applying For A Loan might be a viable option.


Early retirement in Singapore is a dream that requires careful planning, discipline, and a clear understanding of the financial landscape. By staying informed, making wise financial choices, and leveraging available resources, you can enjoy your golden years in one of Asia’s most vibrant cities.

Looking for a Reliable Moneylender in Singapore? Turn to ABM Creditz for all your financial solutions. Experience the convenience of fast loans and personalised personal loans tailored to your needs. As a trusted Singapore moneylender, with thousands of positive reviews, we’re committed to helping you manage your finances with ease and transparency. Contact ABM Creditz today and discover the peace of mind that comes with our dependable lending services.

author avatar
Abm Creditz