Over half of retirees plan finances only a year ahead

60% of respondents prioritise managing daily expenses.

More than half (54%) of Hong Kong’s pre-retirees and retirees have financial plans that do not extend beyond one year, whilst only 9% are planning 10 years or more ahead.

In its survey, Sun Life noted that 60% of respondents prioritise managing daily expenses, while saving for retirement ranks fourth at 32%.

Investment attitudes remain cautious, with 55% identifying as conservative investors. Inflation is a pressing concern, with 91% of respondents feeling its impact and 45% saying it significantly affects their ability to meet monthly expenses.

Citing Hong Kong Census and Statistics Department data, Sun Life noted that life expectancy in 2023 reached 83 years for men and 88 for women.