Greater Asia Retirement Survey - Hong Kong Market

Summary 

Hong Kong residents are more engaged in retirement planning, but important gaps remain. Retirees are better prepared than younger workers, and only 71% of respondents believe their savings will last throughout retirement. Chronic illness, healthcare costs, inflation, and pressure on government support are the leading concerns. Interest in lifetime income, critical illness, and long-term care products is strong, while retirement strategies are shifting toward drawing down principal. The report concludes that earlier planning, stronger workplace guidance, and better health and lifetime-income protection are essential to improving retirement security. 

Key Findings 

1. Retirees are better prepared than younger workers, with 23% of Prime Age Workers reporting no retirement planning.  
2. Confidence is high, but savings adequacy remains a concern, as only 71% believe their savings will last through retirement.  
3. Health and financial risks dominate concerns, especially chronic illness, healthcare costs, inflation, and pressure on government support.  
4. Demand for protection products is strong, particularly for lifetime income, critical illness, and long-term care coverage.  
5. Retirement strategies are shifting toward principal drawdown, while employer and digital information sources are becoming more important.