Half of Singaporean Gen Zs ( aged 16-28 ) are optimistic they can retire comfortably, but an overwhelming 72% of them have no retirement plan in place, a new survey reveals.

Findings of Prudential Singapore’s SG60 Financial Future Poll show that 51% of Gen Zs believe they will be able to retire comfortably, a figure that surpasses both Millennials ( aged 29-44, 45% ) and Gen Xs ( aged 45-60, 38% ). Yet, the optimism masks a significant gap in planning. As most Gen Zs are students or early in their careers, many are delaying retirement savings, citing a need to first grow their earning power.

The survey, conducted in July 2025 among 1,000 Singapore residents aged 17 to 76, sheds light on the aspirations and vulnerabilities shaping the next generation’s financial future.

Despite their lack of planning, Gen Zs demonstrate a unique set of financial aspirations. About 41% are seeking multiple income streams, 32% aim for remote work to balance travel with career, and 22% envision taking multiple “micro-retirements”. While over half expect to retire by age 60, about 20% aim for 50.

“Gen Zs have grown up in a flourishing Singapore and are understandably optimistic,” says Jeff Ang, chief executive officer of Prudential Financial Advisers Singapore. “But confidence must be paired with action. Starting small, but early, allows the power of compounding to do its work.”

The poll also draws intergenerational insights. A staggering 94% of Baby Boomers said they would have planned differently, with many wishing they started retirement planning 12 years earlier, at age 28 instead of 40. Their top regrets include not building stronger financial habits, delaying investments, and unnecessary spending.

The study highlights the rising cost of living, healthcare expenses, and inadequate income growth as persistent challenges across all age groups. While Central Provident Fund and bank savings remain the most cited retirement funding sources, younger generations are showing greater interest in index funds and ETFs, diverging from older generations’ reliance on insurance products.

Prudential’s findings underscore the need for early financial education and holistic planning. “As Singaporeans plan for longer life spans, the emphasis must be on diversified wealth portfolios that include insurance protection and passive income,” Ang suggests.