Understanding the financial wellness of Singaporeans
Launched in 2019, the OCBC Financial Wellness Index was the first comprehensive study on the financial health of Singaporeans.
The Index provides the bank with deep insights into consumers, which in turn helps us understand where our customers need more help in and develop even better solutions that can meet their needs.
Every year, 2,000 working adults in Singapore aged between 21 and 65 are surveyed online on questions relating to their financial situation.


Designed and formulated by OCBC Bank, the Index is based on the 10 pillars of financial wellness as defined by the bank's wealth management experts.
To assess how each respondent fares against these pillars, 24 indicators – standards and guidelines that are widely-accepted best practices in financial planning – are used to derive an individual score of a maximum of 100.
Based on their overall score, respondents are classified into various stages of financial wellness –
Have not started (0-24): Respondents have hardly taken any action on most indicators;
Intend to start (25-49): Respondents have just started or are intending to start;
Started but behind (50-74): Respondents have started but are behind on most indicators; and
Started and ahead (75-100): Ahead on almost all indicators.
The resulting scores from all 2,000 respondents are then averaged out to derive the Index.
How Singaporeans fared over the years:

Singaporeans who save at least 10% of salary
2021
-1%
2020
+13%
2019

Singaporeans who have saved at least 6 months of their monthly salary as funds to overcome a crisis
2021
+2%
2020
+9%
2019

Singaporeans who are on track with their retirement plans
2021
+8%
2020
+2%
2019

Singaporeans who have investments
2021
+13%
2020
+3%
2019

Singaporeans who do annual regular reviews of their plans
2021
-3%
2020
+2%
2019

Singaporeans who often gamble more than they can afford to lose
2021
-1%
2020
-3%
2019

Investors in Singapore who speculate excessively in investments in the hope of making a quick buck
2021
-7%
2020
+8%
2019

Singaporeans who often borrowed money from their family or friends
2021
-4%
2020
+3%
2019

Singaporeans who spend beyond their means to keep up with their peers
2021
-2%
2020
+1%
2019

Singaporeans with no unsecured debt
2021
+6%
2020
2019
OCBC Financial Wellness Index reports
OCBC Financial Index 2021 Report

Learn more about our key takeaways in 2021
Discover interesting stats and figures and see how you compare to other Singaporeans like you.