Inequality, inflation and even your dinner delivery app—it’s been that kind of week.
Fresh data shows how wealth is really distributed in Singapore, alongside a new survey that suggests even high-income earners aren’t feeling entirely ready for retirement. In corporate news, a major food delivery player is bowing out, a local bank is navigating softer profits, and a fintech platform is fixing an unexpected hiccup. Add cooling price pressures, new UK travel rules, and a stock market reacting to global shifts, and you’ve got 8 updates worth catching up on.
TLDR;
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Special reports
Top 5% of households hold one-third of Singapore’s wealth: MOF paper
Singapore’s top 5% of households hold about 33% of total household wealth, while the top 1% hold around 14%, Acting Transport Minister Jeffrey Siow said in Parliament on 25 Feb 2026 .
The figures come from a Finance Ministry occasional paper released ahead of Budget 2026.
Wealth vs income inequality
- Wealth Gini coefficient: 0.55
- Income Gini (after taxes and transfers): 0.38
- Key point: Wealth inequality is higher than income inequality
The Gini coefficient ranges from 0 to 1, with higher numbers indicating greater inequality.
Mr Siow cautioned that wealth data can be tricky to measure, especially with overseas assets and potential under-reporting . Still, the Government plans to track the wealth Gini over time and refine its data methods.
On taxes, the Government remains open to shifting more of the burden towards wealth in future — but with safeguards, such as tax deferrals for asset-rich, income-poor seniors.
In short: policymakers are watching the trend, not just the headline number.
Sun Life study: 80% of high-income Singaporeans expect to work beyond retirement age
Retirement may not mean stopping work—even for the well-off. A new Sun Life survey found that 80% of high-income respondents in Singapore expect to continue working beyond retirement age .
The study, Retirement Reimagined: Asia’s Retirement Divide, highlights a growing split between those who work by choice and those who work out of necessity .
Why are they staying in work?
Among high-income respondents:
- 48% cite income needs for daily living and long-term security
- 62% want mental stimulation
- 52% value social connections
- 52% seek purpose and fulfilment
- Only 39% feel very confident about their retirement plans
Cost pressures remain a concern:
- 49% worry about future expenses
- 42% are concerned about inflation and economic uncertainty
The survey also found that 45% have postponed retirement due to “sandwich generation” pressures, while 97% believe retirement should be a personal choice .
Bottom line: even higher earners aren’t immune to retirement anxiety—and many are rethinking what their later years will look like.
Deliveroo to exit Singapore market on 4 March
Food delivery platform Deliveroo will wind down its Singapore operations, with its final day of service set for 4 Mar 2026, according to an announcement on 25 Feb 2026 .
The company said the move follows a review of country-specific conditions and a decision to focus on markets where it sees stronger long-term growth. The platform will remain live until 4 March, and customers have been encouraged to use any remaining credits or gift cards by 3pm that day.
Here’s what we know so far:
- Last day of service: 4 Mar 2026
- Credits deadline: Use by 3 pm on 4 Mar
- Reason given: Strategic review and focus on sustainable scale
- Support promised: Transition support for customers, partners, and riders
Deliveroo has operated in Singapore for 11 years. Its exit comes amid intense competition in the food delivery space, with rivals like Grab and foodpanda still in the market.
For customers, it means one fewer app to compare prices on. For riders and merchants, the weeks ahead could bring some uncertainty as they look at alternative platforms.
ALSO READ: Credit Cards for Use For Dining Out in Singapore 2026
Singapore’s core inflation eases to 1% in January
Singapore’s core inflation slowed to 1.0% year on year in January, down from 1.2% in December, according to data released on 23 Feb 2026.
The figure was lower than economists’ median forecast of 1.5%. Core inflation strips out accommodation and private transport costs, giving a clearer picture of everyday price pressures.
At the same time, overall inflation edged up to 1.4%, mainly due to higher accommodation costs .
What changed in January?
- Services inflation: 1.5% (down from 1.9%)
- Food inflation: 1.2% (unchanged)
- Private transport: 2.7% (down from 3.7%)
- Accommodation: 1.9% (up from 0.3%)
- Month-on-month core prices: –0.3%
Looking ahead, MAS and MTI expect both core and overall inflation to average 1.0%–2.0% in 2026 .
In short: price pressures remain contained for now, but policymakers are watching wage growth, global oil prices and potential supply shocks closely.
ALSO READ: Should You Take A Personal Loan To Help With The Rising Costs Of Living?
UOB to give junior staff one-off payout despite lower profits
UOB will reward junior employees with a one-off payout, even as the bank reported a fall in fourth-quarter and full-year 2025 net profit, The Straits Times reported.
The move signals support for rank-and-file staff despite a tougher earnings environment for banks.
By the numbers
- Q4 net profit: Lower year on year
- FY2025 net profit: Also declined
- Who benefits: Junior and lower-wage employees
- Type of reward: One-off special payout
While profits dipped, the bank’s decision suggests it wants to share gains more broadly and cushion staff against rising living costs.
Banks have seen earnings normalise as interest rate momentum eases, after several strong years driven by higher rates. That has put pressure on margins and loan growth across the sector.
For employees, the payout offers a welcome boost. For investors, it’s a reminder that even in a softer profit year, capital management and staff retention remain key priorities for Singapore’s lenders.
YouTrip reversing charges after declined card transactions
Several YouTrip users were charged for transactions that had been declined a day earlier, after card payment issues on 24 Feb 2026 .
The multi-currency e-wallet said on 25 Feb 2026 that it is working to reverse the affected transactions and credit users’ wallets as soon as possible .
What happened
- Some card transactions were declined on 24 Feb 2026
- Affected users later saw the amounts charged or pending
- Payment functions were restored around 9 pm on 24 Feb 2026
- YouTrip said it is contacting impacted users directly
The company did not state how many customers were affected .
One user told CNA he was charged multiple times for a failed overseas purchase, with the total amounting to about $1,600 .
YouTrip said all funds remain safe and that its customer service team will provide updates once reversals are completed.
ALSO READ: Comparing Digital Multi-Currency Accounts: Wise, YouTrip, Revolut, and More
UK to require £16 travel permit for Singapore visitors from 25 Feb 2026
Heading to London soon? From 25 Feb 2026, Singapore passport holders (and visitors from 84 other countries) must apply for the UK’s Electronic Travel Authorisation (ETA) before flying .
Airlines will deny boarding if you don’t have a valid ETA, eVisa or other required documents.
What you need to know
- Who it applies to: Visitors from 85 countries, including Singapore
- Cost: £16 per person (apply online)
- When it’s mandatory: From 25 Feb 2026
- Exemptions: British and Irish citizens, and those with the right to live in the UK
The scheme was introduced in 2023 and expanded in April 2025, but enforcement only kicks in now . UK authorities say it strengthens border security, similar to the EU’s post-Brexit Entry/Exit System rolled out in October 2025 .
Bottom line: If you’re planning a UK trip, factor in the £16 fee and apply early. No ETA, no boarding—even if you previously travelled visa-free.
ALSO READ: United Kingdom Visa Requirements Guide (2026)
Singapore market overview: Banks drag STI lower as global tariff reset reshapes outlook
Singapore’s main stock market index—the Straits Times Index (STI), which tracks 30 of the largest listed companies here—edged lower this week, hovering around the 5,000 level.
The pullback was mainly driven by weakness in bank stocks and Genting Singapore.
What moved the market
- UOB shares fell after reporting a 7% drop in quarterly profit
- DBS and OCBC also slipped, pulling the broader index down
- Genting Singapore dropped sharply after posting weaker earnings
- Trading activity remained steady, with over $2 billion in shares changing hands on some days
Banks matter because they make up a large portion of Singapore’s stock market. So when investors turn cautious on bank earnings, the overall index tends to feel it.
In simple terms: investors are becoming a bit more careful about profit growth this year.
A reminder: weekly market swings are normal. They don’t necessarily reflect how the economy—or your long-term investments—are performing.
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Global & ASEAN market impact
Markets weren’t just reacting to local earnings.
Earlier this week, US President Donald Trump reset US tariff policy, introducing a 15% blanket tariff globally. While that sounds worrying, analysts noted that Singapore’s effective tariff rate remains one of the lowest in ASEAN, largely because key exports like semiconductors are still exempt.
Investment banks such as Macquarie now rank Singapore as their second-preferred ASEAN market, behind Malaysia.
Across the region:
- Japan and South Korea rose on optimism around artificial intelligence investments
- Hong Kong was mixed
- Malaysia dipped slightly
The broader takeaway? ASEAN economies are still seen as relatively resilient, even with changing global trade rules.
That’s it for this week! Stay tuned for next week’s What’s Happening This Week to keep up with the latest in finance, business, and beyond.
This article was first drafted with the help of AI and later reviewed and refined by the author.
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