Wednesday, 1 June 2011

Does the idea of planning for retirement vary across the globe?

Well, according to a new survey by HSBC, it does and the differences between East and West are more than apparent.

In their latest report, entitled The Future of Retirement: The Power of Planning, HSBC surveyed more than 17,000 people in 17 countries around the world looking at issues around retirement savings, increased life expectancy and population increase.

Emerging from the findings was the idea that Britons, despite being fully aware of the need to save, are burying their heads in sand and failing to address the issue of saving for their future, earning themselves the name the ‘ostrich generation’.



What was also clear from the report is that Britons worry most that they will be worse off in retirement than their parents. This attitude did was not apparent across the globe with Indian, Chinese and Malaysian respondents being the most optimistic that they would have a more comfortable retirement than mum and dad.

Have you got a pension that you contribute to or are you worried about saving for the future? As an expat, have you found saving through a pension much more difficult?

Let us know your thoughts and why not also take part in the 2011 Expat Explorer survey, the world’s largest study of expats.

1 comment:

  1. Huge numbers of people in the in the USA and I believe in England too, have done a horrible job of saving for retirement. Many in China save over 20% of their income. Why shouldn't they be confident. Also comparing to your parents in China is a pretty easy comparison to beat. I am still learning about Malaysia (I would imagine they save well - but it is possible they are just optimistic :-)

    Saving for retirement everywhere is pretty basic. You have to save 8-12% of your income to have a decent shot at a good retirement. And in exceptional circumstances you need something different. I write about investing and retirement on one of my blogs http://investing.curiouscatblog.net/category/investing/retirement/

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