Understanding the financial wellness of Singaporeans

Launched in 2019, the OCBC Financial Wellness Index is the most 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.

Download the OCBC Financial Wellness Index 2023 report 

The ideal financial health score target by OCBC financial experts
The ideal financial health score target by OCBC financial experts

Designed and formulated by OCBC, the Index is based on the 10 pillars of financial wellness as defined by the bank's wealth management experts.

Every year, around 2,000 working adults in Singapore aged between 21 and 65 are surveyed online on questions relating to their financial situation.

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.

How Singaporeans fared over the years:

Financial Personas

We developed 6 financial personas, based on a combination of the top 2 dominant financial personality traits. Some personas had better financial wellness index scores on average than others.

Which persona are you?

  • Key takeaways in 2023

    Discover interesting stats and figures.