At a Glance
Allocated according to your retirement timeline
Grow your investment at the start and transition towards stability as you age.
Twice the expertise managing your portfolio
Managed for you by DBS in collaboration with J.P. Morgan Asset Management.
Enjoy a digiPortfolio gift with S$68 credit.
Plus, zero fees when you set up a regular savings plan! T&Cs apply.
The Retirement Portfolio is only available on our DBS digibank mobile app.
About Retirement Portfolio
Just as our individual needs change over time, our investment portfolios require adjustments to suit evolving circumstances, responsibilities, and future goals for hard-earned savings.
Not sure how to do that? We've got you covered. Our Retirement Portfolio automatically adjusts the risk for you as you age. Why is that important?
- In earlier stages of your life, the goal is to take advantage of your long-term horizon to grow your retirement funds by participating in equity markets. Although more volatile, over the long-term, it outperforms other asset classes.
- When you approach your desired retirement age, the value of your investments would have grown a lot more. This also means that the potential losses that can happen with any market downturn, is also greater.
The closer you get to your retirement age, the more important it is to focus on stability over growth, and that means having a focus on bonds over equities so that you can conserve your wealth. And we do it all for you.
Start small, grow big. Investing for retirement doesn't need a huge sum. With Retirement Portfolio, you can start from as little as S$100 and keep adding as your budget allows – even S$100 a month makes a difference.
Invest early and watch it grow. The earlier you start, the more your money benefits from compounding. Watch your retirement funds grow steadily over time.
Expert guidance for your future. Managed by DBS in collaboration with J.P. Morgan Asset Management – leaders in retirement planning and experts in both Asian and Global markets.
Simple setup, easy to manage. No need to be an investment pro. Get started with just S$100 and add more whenever it's convenient. We take care of the complexities, so you can enjoy retirement more and worry less.
Features & Benefits
| Minimum amount to start | S$100 |
| What this is | A diversified portfolio of unit trusts where asset allocation is adjusted in an automated manner according to your years to retirement |
| Suitable for | Customers who want to invest to grow your retirement funds |
| Fees | 0.75% p.a. 0.25% p.a. upon retirement |
| More information | Factsheet |
How it works
1. Construction of the portfolio
Retirement Portfolio helps you to invest by first taking into consideration your desired age of retirement.
Based on your intended retirement timeline, a professionally constructed portfolio offering diversified exposure across various asset classes and markets, will be designed for you.
| Asset Class | Exposure |
|---|---|
| Equities | US Europe Japan Asia Ex-Japan |
| Fixed Income | Global Government Bonds Global Corporate Bonds Emerging Markets Debt |
2. Dynamic adjustment of portfolio
The construction of your portfolio is supplemented with an investment strategy known as the glidepath. Here's a video illustration on how the Retirement digiPortfolio brings everything together.
When the investor is further away from the retirement age, the portfolio mix will tilt towards growth with equities.
Moving closer to retirement, the portfolio mix will gradually recalibrate towards the relative stability of fixed income. This is meant to lower the probability of a market event significantly impacting the nest egg that you have steadily built over the years.
It doesn’t stop there. Even in retirement, the investment team continues to look after your investments. This way, you can enjoy retirement more and worry less!
Performance and Insights
| Q1 2025 | 1 Year | Since Inception | |
|---|---|---|---|
| Early Career | 0.3% | 4.9% | 16.2% |
| Mid Life | 0.2% | 4.6% | 15.1% |
| Near Retirement | 0.9% | 3.2% | 9.2% |
Portfolio Inception was 29 Nov 2023
Figures as of 31 March 2025.
The above table is based on the Indicative Model Portfolio returns and is gross of fees. Individual performance may vary.
The first quarter of 2025 proved a volatile period for equity and bond markets. Elevated uncertainty stemming from the unpredictable nature of US trade policy dampened growth expectations in the US, while in Europe, the fiscal response had been much more forceful than many were anticipating.
Developed equity markets struggled over the quarter as tariff-related headlines buffeted US equity markets, with the MSCI World (local currency) index down -2.7%. The US administration announced a raft of new tariffs on steel, aluminium and autos, while shifting expectations around the severity of pending tariff announcements due on 2nd April drove swings in market sentiment.
Value stocks outperformed their growth counterparts, while smaller companies lagged as rising trade uncertainty drove concerns around both weaker growth and stronger inflation. Emerging market equities outperformed developed markets, posting a 2.7% return (MSCI Emerging Markets, local currency) as Chinese and Korean equities both performed strongly. Asian equity markets saw high levels of dispersion. Chinese stocks outperformed thanks to a combination of US tariffs so far proving less punitive than feared, improving sentiment towards Chinese technology stocks following DeepSeek’s AI breakthrough, and hints of a more supportive policy stance from Beijing. In contrast, Indian stocks struggled while a stronger yen driven by narrowing interest rate differential created headwinds for Japanese equities.
Fixed income markets outperformed developed equities with rising recession risks leading to a return of 1.1% (JPM GBI, USD Hedged). US Treasuries were notable outperformers over the quarter, returning 2.9%. Conversely in Europe, expectations of much larger issuance to finance new government spending programmes weighed on sovereign bond returns and saw 10-year German Bund yields rise by more than 30bps (basis points) on the day after the €500bn infrastructure spending plan was announced. Japanese government bonds were the notable underperformer as recent data emphasises building inflationary pressures. Given elevated uncertainty, the Federal Reserve (Fed) decided to take no action on interest rates over the quarter but Fed Chair Powell did leave the door open to future rate cuts at the March meeting, suggesting the Fed was more concerned about the downside risks to growth than the upside risks to inflation. The European Central Bank (ECB) was more positive about the prospect of further fiscal stimulus ahead, with ECB President Lagarde explicitly praising the change in approach at the March meeting. The ECB cut interest rates twice during the quarter, with a further 60bps of cuts priced by markets by the end of 2025.
JPMorgan Asset Management believes that the outlook for U.S. tariff policy remains highly uncertain. We will continue to monitor any potential retaliations from trading partners, the outcomes of individual country negotiations, and potential concessions/exemptions, as well as the impact these tariffs may have on U.S. growth and inflation.
JPMorgan Asset Management continues to reduce equity risk as tariff news develops, maintaining a neutral to modest overweight stance across portfolios. We seek to diversify our investments by expanding our exposure to regions and sectors outside of the U.S., particularly in Europe and Japan.
JPMorgan Asset Management also sees opportunities in credit as all-in yields remain attractive, though the magnitude of the positiveness has moderated.
What does this mean for you?
Planning for retirement is crucial, and Retirement Portfolio can play a part in your years ahead.
- Start small - Even regular contributions can grow significantly over time.
- Finding the right mix – Simplify how you invest with a diversified portfolio which automatically adjusts its risk as you move towards retirement.
Take the first step and invest now to enjoy retirement more and worry less!
Practise good money habits – Retire
Building good money habits goes a long way to helping us secure the retirement lifestyle we desire. Retirement planning is all about having passive income flows to fund your basic and lifestyle needs. Fund basic needs with stable income flows from safer products while lifestyle needs can be funded by more variable income flows from higher risk products. You should aim to meet the CPF Full Retirement Sum and have more than 1 passive income stream.
Eligibility requirements
| Who is eligible? | |
|---|---|
| Age | Must be 18 or older |
| Account needed | You will require one of these DBS/POSB Savings or Current Accounts to invest in the Retirement Portfolio.
|
Invest now
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Frequently Asked Questions
Read the full list of FAQs on Retirement Portfolio here.
The Retirement Portfolio is a ready-made portfolio that helps you invest for your retirement, starting from S$100 without any lock-in. It offers the perfect match of human expertise and robo-technology, providing an instant, cost-effective way to grow and glide into retirement with ease.
The Retirement Portfolio is a single investment solution which employs a ‘glidepath’ strategy.
The investment team considers current market conditions in managing the portfolio. Additionally for the Retirement Portfolio, your portfolio allocation will shift based on your own timeline to retirement.
When you are further out from retirement, the portfolio allocation is geared towards higher risk assets such as equities to help you accumulate and grow your wealth over years to retirement. The longer time horizon to retirement would also allow for your portfolio to ride out ups and downs of markets.
Over the years and as you move closer to retirement, risk is gradually dialled back by reducing allocation in higher risk assets and increasing allocation to fixed income funds, building a more conservative and stable portfolio to ease into your retirement years.
You can consider the Retirement Portfolio if:
- You want to invest to build your wealth for retirement
- You don't have time to actively monitor markets
- You want experts to nurture your investments
- You want to supplement other insurance / investments to reach your retirement goals
