Yes, Singapore's retirement system is consistently rated among the world's best, ranking 4th or 5th globally and 1st in Asia in the 2025 Mercer CFA Institute Global Pension Index. It is the only Asian system to earn a prestigious 'A' grade for its strong, sustainable Central Provident Fund (CPF).
The Mercer CFA Institute Global Pension Index again found the Netherlands to have the best retirement system. The retirement systems of the Netherlands, Iceland and Denmark once again are the top three systems worldwide, according to the 2025 Mercer CFA Institute Global Pension Index.
Singapore (Ranked 17th) :: Legatum Prosperity Index 2023.
Despite its high cost of living, Singapore's high quality of life and low crime rate make it a desirable destination for U.S. retirees. Singapore has one of the best health care systems in the world, with universal health coverage and advanced technology in its hospitals and clinics.
The Netherlands retained the pole position with a score of 84.8, followed by Iceland (83.4), Denmark (81.6), and Israel (80.2), all of which received A grades. The rest of the top 10 comprised Finland, Norway, Chile, and Sweden.
Only a small fraction of Americans, around 3% to 4.7%, actually retire with $1 million or more in retirement accounts, according to Federal Reserve data, despite many feeling they need that much for comfort. The median savings for those approaching retirement (ages 65-74) is much lower, around $200,000-$609,000, making the million-dollar milestone rare, though "401(k) millionaires" are growing in number.
Costly rent prices
As well as rent, the cost of living in Singapore is very high. Recent data from 2024 ranks the city-state as the second most expensive place to live in the world. ⁶ Owning a car in the city is extremely costly, with most expats taking advantage of the efficient public transport system to get around.
General Benchmarks. One survey estimated that ~S$1 million in savings is needed to retire “comfortably” in Singapore. In terms of monthly spending, retirees today spend anywhere from S$1,200 (basic) to S$3,500 (comfortable) per month. As of 2023, an average retiree spends approximately S$2,000 per month.
Singapore's "60/90 day rule" primarily targets Malaysian visitors and means you can stay up to 60 days in Singapore within a 90-day period, preventing frequent short visits from becoming de facto long-term residency or unauthorized work, with longer stays requiring extensions or proper work passes, and overstaying leading to penalties like fines or bans. For other nationalities, the standard visa-free stay is often 30 or 90 days, but frequent entries can still trigger scrutiny, so checking your specific nationality's policy and applying for extensions via ICA is key for longer visits.
International rankings of Singapore
The Richest Countries in the World in 2026, GDP per Capita
The US has held its ground in the 2025 Mercer CFA Institute Global Pension Index, posting a modest gain in overall performance while remaining outside the top tier of global retirement systems. This year's Index assigned the US an overall C+ grade with a score of 61.1, up slightly from 60.4 in 2024.
It consists of spending your money on: 50% needs. 30% wants. 20% savings/investments.
Yes, retiring comfortably with $500,000 is achievable. This amount can support an annual withdrawal of up to $34,000, covering a 25-year period from age 60 to 85. If your lifestyle can be maintained at $30,000 per year or about $2,500 per month, then $500,000 should be sufficient for a secure retirement.
The top ten financial mistakes most people make after retirement are:
Some expats are considering leaving Singapore because the cost of living has gone up, making it harder to save money. Also, making deep friendships can be tough because many expats move around a lot. Sometimes, career chances might be better elsewhere, or people miss certain things from home.
Singapore attire is pretty specific because you want to be cool and comfortable outside while understanding that being indoors can be very different. It's not a place where people wear skimpy outfits, instead they tend to wear shorts or skirts and a t-shirt or a dress.
Weaknesses. Limited natural resources including land, water and energy resources making it highly dependent on imports for essential commodities. Relies significantly on foreign labour, particularly in construction, services and manufacturing. Cost of living is among the highest in the world.