By South China Morning Post | Created at 2025-03-06 10:01:37 | Updated at 2025-03-06 14:02:20
4 hours ago
For nearly half the working women in Hong Kong, their main concern is insufficient income after retiring, according to one of the largest managers of the Mandatory Provident Fund (MPF), the city’s compulsory retirement scheme.
Women in Hong Kong generally retire earlier than men at 62 and expect to incur an average monthly expense of HK$24,235 (US$3,120) in retirement, according to Fidelity International’s Asia-Pacific Investor Study released on Thursday, ahead of International Women’s Day on Saturday.
The amount accounts for nearly 70 per cent of their current monthly income, the study found.
“The sooner women start their investing journey, the better off they will be in achieving long-term capital accumulation,” said Charlotte Chan, the head of Fidelity’s Hong Kong office. “We see that women have the opportunity to take a more active approach to building a better financial future through investing, in addition to increasing their savings.”
A total of 1,002 respondents in Hong Kong between the ages of 18 to 69 with a minimum monthly income of HK$15,000 took part in the survey, which highlighted the importance of preparing for a post-retirement life amid rising inflation and life expectancy.
Fidelity has a 4.3 per cent market share of Hong Kong’s pension funds in terms of assets under management and offers some two dozen investment choices for investors.
