Chinese 'more confident about retirement than Europeans'
A survey finds middle-aged people in China face getting old with confidence, in sharp contrast to counterparts in Japan and Europe
A "squeezed generation" of middle-aged Europeans are convinced they are going to be poorer in retirement than their parents, according to a global survey that found the Chinese the most confident about their future and the French, Germans and Spanish the most pessimistic.
Americans are the most sure they will enjoy their retirement, the British are among the most likely to worry about being lonely, while individuals in eastern European countries are uniformly morose about their future.
In the first major survey of its kind to include China, pension provider Aegon interviewed 12,000 employees in 12 countries on a wide range of financial planning issues.
It found increasing levels of gloom among workers in the developed world who have lost secure pensions and feel ill-prepared for retirement. Most expect to be worse off in retirement than the current generation of pensioners, while having to support adult children who have not been able to find jobs.
In China, Aegon found a very different picture. A total of 66 per cent of Chinese are optimistic about their retirement, compared with just 38 per cent of British people.
The Chinese are also the most confident that they will be able to retire early, at age 55, compared to other nations. They were also the most likely to believe they will maintain good health in retirement.