Women in Hong Kong face huge retirement income shortfall, Fidelity study shows
A Fidelity International study reveals that nearly half of Hong Kong's working women are concerned about insufficient retirement income. The study, released ahead of International Women’s Day, highlights that women in Hong Kong typically retire earlier than men, at age 62, and anticipate needing an average of HK$24,235 (US$3,120) per month during retirement. This figure represents almost 70% of their current monthly income, underscoring the potential financial strain in their post-work years.
The study, which surveyed over 1,000 Hong Kong residents, emphasizes the importance of early investment and proactive financial planning for women. Charlotte Chan, head of Fidelity's Hong Kong office, encourages women to take a more active role in building their financial future through investing and increasing savings. With rising inflation and increasing life expectancy, adequate retirement preparation is crucial. Fidelity International, a significant player in Hong Kong's pension fund market, manages 4.3% of pension fund assets and provides various investment options.
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A Fidelity International study reveals that nearly half of Hong Kong's working women are concerned about insufficient retirement income. The study, released ahead of International Women’s Day, highlights that women in Hong Kong typically retire earlier than men, at age 62, and anticipate needing an average of HK$24,235 (US$3,120) per month during retirement. This figure represents almost 70% of their current monthly income, underscoring the potential financial strain in their post-work years.
The study, which surveyed over 1,000 Hong Kong residents, emphasizes the importance of early investment and proactive financial planning for women. Charlotte Chan, head of Fidelity's Hong Kong office, encourages women to take a more active role in building their financial future through investing and increasing savings. With rising inflation and increasing life expectancy, adequate retirement preparation is crucial. Fidelity International, a significant player in Hong Kong's pension fund market, manages 4.3% of pension fund assets and provides various investment options.
via SCMP Full Text Feed
