Half of Hong Kong women face retirement income challenges
Only one in three women say they are confident in their ability to make their pension contributions, whereas 40% of men say the same, according to the Fidelity’s Global Women & Money Study 2022.
Due to the lack of confidence in financial planning, 46% of the surveyed Hong Kong women are worried they are unprepared financially for retirement, while 43% of men felt the same.
“With the survey findings suggesting that a sizeable proportion of women believe that they do not have sufficient income to fund 21 years in retirement, it is even more critical they plan early and set realistic, achievable goals,” said Charlotte Chan, head of distribution, Hong Kong workplace and personal investing at Fidelity International.
“Maintaining good savings and spending habits, as well as seeking appropriate financial advice, can help maximise the value of their hard-earned income and stay on track to achieving a comfortable retirement.”
Women in Hong Kong expect to retire at 63 and then to rely on HK$22,000 per month on average for 21 years.
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