Sun Life aims to expand retirement plans amidst under-preparedness

17% have no retirement plan at all.

Nearly half of Hongkongers only start planning their retirement expenses within five years of retiring, whilst 17% have no retirement plan at all, according to Sun Life’s “Retirement Reimagined: Facing the Future with Confidence” survey.

In response, Sun Life has launched its “360 Worry-free Retirement” initiative to encourage proactive financial planning.  

Christine Yeung, general manager of Life and Health at Sun Life Hong Kong, highlighted the company's efforts to offer diverse retirement solutions. 

These include the Policy Reverse Mortgage Programme and Reverse Mortgage Programme introduced last year, which provide clients with stable income options. 

Sun Life also plans to expand its product offerings this year to meet varying retirement needs.  

To support the growing senior population, Sun Life has established the “360 Retire to Excellence Business Hub”, aimed at enhancing financial advisors' expertise through training, client seminars, and workshops.  

Additionally, Sun Life is launching the “Act Now and Plan for a Confident Retirement Future” promotional campaign from 25 February to 25 March. 

The campaign will distribute 30,000 rewards, including dining, grocery, travel, and entertainment vouchers, to encourage retirement planning.