According to forecast data from Tellusant, **** percent of the Singaporean population in 2024 would earn at least the equivalent of the top 40 percent of global earners in 2022 constant purchasing power parity. Out of those **** percent, **** percent would earn the equivalent of the top 10 percent of global earners in 2022 constant purchasing power parity.

In 2024, 100 percent of Brunei's population were middle class or above. Singapore followed, with around **** percent of its population being considered middle class or above. In contrast, **** percent of Myanmar's population earned the equivalent of the top 40 percent of global earners that year.

In 2023, the median monthly income in Singapore amounted to ***** Singapore dollars. In that year, full-time employees had a median monthly income of ***** Singapore dollars, while part-time employees had a median monthly income of ***** Singapore dollars.

In 2020, ***** percent of resident employed households had a monthly income of 20 thousand Singapore dollars and over. In comparison, only **** percent of households had a monthly income of less than one thousand Singapore dollars.

In 2020, the estimated size of the middle class population in the six selected Southeast Asian countries Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam amounted to around *** million. That year, approximately ** million people of Indonesia's total population were part of the middle class.

Within the ASEAN region, Singapore's disposable income per capita was projected to amount approximately **** thousand U.S. dollars. Despite, Vietnam was predicted to have the highest CAGR in terms of middle income population with **** percent from 2016 to 2021.

The Singapore life annuity insurance market, valued at $3,315.57 million in 2025, is projected to experience steady growth, driven by an aging population and increasing awareness of the need for retirement income security. A Compound Annual Growth Rate (CAGR) of 3.4% is anticipated from 2025 to 2033, indicating a consistent expansion of the market. Key growth drivers include government initiatives promoting retirement planning, rising disposable incomes among the middle class, and a growing preference for guaranteed income streams over market-dependent investments. The market is segmented by product type (life risk premium, life coinsurance, accident and health, disability income, and others) and distribution channel (offline and online). The online segment is expected to witness faster growth fueled by technological advancements and increasing digital adoption among the target demographic. Competition is intense, with established players like Allianz SE, Assicurazioni Generali S.p.A., and AXA Group vying for market share alongside local and regional insurers. These companies employ diverse competitive strategies, including product innovation, strategic partnerships, and robust digital platforms, to attract and retain customers. Regulatory changes and evolving consumer preferences pose potential challenges, demanding insurers adapt their offerings and strategies to remain competitive. The increasing popularity of hybrid products combining annuity features with other insurance benefits is also shaping the market landscape. The market's growth is largely influenced by several factors. The increasing life expectancy in Singapore necessitates longer-term financial planning, thus boosting demand for annuity products. Furthermore, the rising prevalence of chronic diseases and the need for long-term care support further fuel the demand for annuity plans that offer comprehensive coverage. Insurers are responding by developing innovative products tailored to the evolving needs of consumers, including customized annuity solutions with flexible payout options and riders for enhanced benefits. However, low interest rates present a challenge for insurers, impacting profitability and potentially influencing product pricing. Strict regulatory oversight and compliance requirements also represent a significant factor shaping market dynamics. Therefore, successful players will be those that effectively manage risk, innovate strategically, and adapt to the ever-changing regulatory environment.