77% of Singaporeans prioritise leaving an inheritance for future generations

A new report by Etiqa Insurance Singapore spotlights growing trends in intergenerational wealth transfer, with 77% of Singaporeans prioritising leaving a financial legacy for future generations. With two-thirds of Singaporeans having either received, transferred, or expecting to receive or transfer their wealth—a commitment most pronounced among those aged 55 and above (74%)—proactive wealth planning and management have become more crucial than ever.

Wealth Transfer Insights Report 2025

Seventy-eight percent of Singaporeans aged 55 and above prioritise the importance of discussing inheritance matters with their families, signalling a cultural shift toward open and proactive legacy planning. This reflects a broader societal move toward greater transparency and responsibility in legacy planning, as older Singaporeans recognise the importance of wealth transfer conversations before one’s passing.

Over half of Singaporeans surveyed (53%) have either received or expect to receive an inheritance. This expectation is even higher among younger Singaporeans, with 62% under the age of 24 expecting to receive an inheritance. This underscores the need for early financial literacy and planning to ensure wealth is managed effectively.

Among Singaporeans who expect to receive or give an inheritance, one in five anticipate a windfall of $1 million or more. With such large sums potentially involved, financial education becomes critical, ensuring recipients have the knowledge to manage and preserve this wealth. Among those who have already received their inheritance, 53% believe it plays a critical role in their long-term financial stability. In contrast, only 35% of Singaporeans who have yet to receive an inheritance consider it a critical factor in ensuring their long-term financial stability. As the true value of an inheritance often becomes clear only after it is received, proactive financial guidance is essential to help individuals integrate it effectively into their long-term financial goals.

Other key findings of the survey include: “Our Wealth Transfer Insights Report findings indicate that wealth transfer is increasingly viewed not just as a financial event, but as a purposeful act of empowering the next generation,” said Raymond Ong, CEO of Etiqa Insurance Singapore. “It is heartening that Singaporeans are having conversations about wealth planning through open family dialogue and meticulous preparation, which are fundamental to ensuring their families’ financial well-being.”

“While Singaporeans demonstrate a strong commitment to securing their families’ financial future through wealth transfer, potential challenges such as wealth mismanagement and preserving this wealth for the next generation must be addressed,” Mr Ong emphasised. “More strategic and informed legacy planning, bridging existing gaps, and fostering continuous open dialogue are essential to ensure that legacies not only endure but truly empower future generations.”

Etiqa Insurance Singapore supports the community through financial literacy workshops and initiatives designed to empower individuals across all age groups. These initiatives, which will be rolled out in phases in the coming years, aim to equip participants with the essential knowledge to protect, grow, and manage their wealth effectively.

The Etiqa Insurance Singapore Wealth Transfer Insights Report was conducted in collaboration with Kantar in June 2025, surveying 1,008 Singapore citizens and permanent residents across four age groups: Gen Z (18 to 28 years old), Millennials (29 to 43 years old), Gen X (44 to 59 years old), and Seniors (60 and above). The study explores attitudes, expectations, and strategies around both receiving and passing wealth to the next generation.