Hong Kong retirees facing income shortfall of US$641 a month on average, survey shows
The post-retirement incomes of Hongkongers, who usually retire at the age of 62, stand at about HK$12,000 per month on average, according to the survey conducted by BOC Group Life Assurance and Golden Age Foundation. This income was derived mainly from investments and was 60 per cent below their average income before retirement of about HK$30,000, the survey found.
The survey, which polled about 1,000 people at the end of last year, showed that retirees needed to spend about HK$17,000 per month, indicating a shortfall of HK$5,000.
The survey will hopefully “inspire concerted social efforts to foster the development of elderly care in Hong Kong and create an age-friendly city for everyone”, said Wilson Tang Chee-ping, BOC Life’s CEO.
The survey comes as Hong Kong moves rapidly towards becoming a “super-ageing society” starting next year, when more than 21 per cent of its population will be above the age of 65, according to an estimate by the Hong Kong Census and Statistics Department.
Read more @scmp
