Singapore’s retirement income system jumped two spots – retaining its top spot in Asia and cementing its position in the top 10 systems globally. Hong Kong SAR and Japan round out the top three in the region.

Hong Kong SAR and Singapore are the world’s two most expensive cities for employees working abroad, according to Mercer’s 2023 Cost of Living survey. Hong Kong SAR retained its top spot from last year, while Singapore jumped six spots to come in second this year.

The 2023 Health on Demand report surveyed over 17,500 employees in 16 markets across the globe, which includes more than 5,200 employees from Asia.