Lasting Power of Attorney (LPA) to CPF nominees: How common is end-of life planning in Singapore?

In our earlier piece, we explored how aware and comfortable Singaporeans are with the concept of living funerals: the practice of celebrating an individual’s life with loved ones while they are still present.

Living funerals are but just one example of end-of-life arrangements – which commonly include the drafting of wills and designation of beneficiaries, to making a lasting power of attorney (LPA) and taking out insurance / endowment policies with next-of-kin in mind.

But how common is it for Singaporeans to have made such plans?

Lasting Power of Attorney (LPA): Have most Singaporeans heard about it and created one?

Latest YouGov Surveys research has found that more than four-fifths of (84%) Singapore residents have heard of LPAs.

More than half (53%) are fully aware of how the deed empowers trusted persons to make decisions on behalf of the holder should they become incapacitated, while around a third (31%) have a rough idea.

However, about a sixth are completely unaware of the legal instrument (16%).

Nationally, around a fifth (19%) of Singapore residents have made an LPA to date, while more than half (55%) are thinking of putting one in place.

Demographically, it comes as no surprise that older Singaporeans are much more likely to have made an LPA than younger cohorts. While more than a third (35%) of Baby Boomers have an LPA in place, less than a fifth of Gen X (17%) and Millennials (14%) and a tenth of Gen Z (6%) currently have one.

Nonetheless, most Singaporeans across generations do appreciate its value: close to three-fifths of Gen X (17%) and Millennials (14%) plus over half of Gen Z (52%) are thinking of making an LPA.

How many Singaporeans have made arrangements for their passing – or are planning to do so in the near future?

When asked about whether they have made other end-of-life arrangements, most Singaporeans say they have taken out insurance policies that pay out death benefits (52%) and designated who will receive their CPF savings (51%) after they have passed on. This proportion rises to around three in five Singaporeans, after including those who plan to do so in the next 12 months.

Around a quarter have also set up an endowment or savings plans specifically for their next-of-kin (25%); this may potentially increase to around a third (32%) a year from now.

A smaller proportion of Singaporeans, however, have made legally-binding arrangements on how to distribute their assets after their death.

Only around a fifth (22%) of Singaporeans have a legally drafted will outlining how their assets would be distributed – three in five (60%) have no plans to do so in the next 12 months – and just an eighth (12%) have set up trusts to manage and distribute their assets.

Methodology: YouGov Surveys: Serviced provides quick survey results from nationally representative or targeted audiences in multiple markets. This study was conducted online in April 2024, with a national sample of 1,031 Singapore residents, using a questionnaire designed by YouGov. Data figures have been weighted by age, gender, and ethnicity to be representative of all adults in Singapore (18 years or older) and reflect the latest Singapore Department of Statistics (DOS) estimates. Learn more about YouGov Surveys: Serviced.

_{Cover image by Pattanaphong Khuankaew}