Key findings from China
- 46% need to support another person financially
- 38% are paying for their life after retirement with savings
- 64% depend on their national pension
- 23% still have other debts to pay off
- 21% regret not starting to saving at an earlier age
- 66% of working people fit in one or more of these categories: not yet started saving for retirement, have stopped doing so, find it difficult to manage their retirement fund
- 18% of people over 60 see themselves living in a retirement home
- 26% have never received any advice on retirement preparation
- 60% of working people have received some advice on retirement, but for 29% of those the advice was only from friends and family
* Source: HSBC Future of Retirement report 2016.
The global bank HSBC has released the 9th edition of its Future of Retirement report. HSBC independently surveyed 18,207 people in 17 countries and regions, including the China, UK, US, Argentina, Australia and Hongkong, to assess retirement trends in the face of an increasingly elderly world population and increasing life expectancy.
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