How much is enough to retire in Hong Kong? HK$19,000 a month sounds about right, survey finds
- Hong Kong and Macau workers expect to have 70 per cent of their working income upon retirement, FWD Hong Kong survey finds
- Guangdong workers expect their monthly income to rise in retirement, partly reflecting their greater likelihood to invest in annuity products
How much will you need each month to retire in Hong Kong and elsewhere in the Greater Bay Area?
Hongkongers think HK$19,000 (US$2,420) is about right. That’s roughly double than what workers in Guangdong and Macau think they need, according to a retirement survey by insurer FWD Hong Kong released on Monday.
Workers in the nine municipalities of southern Guangdong province aim to have 8,700 yuan (US$1,285) per month while those in Macau want 11,700 patacas (US$1,450) each month for retirement, according to the FWD survey of 3,119 working people in December.
The differences reflect in part gaps in living standards and income among the cities of the Greater Bay Area. Beijing will soon unveil the blueprint for the Greater Bay Area to turn Hong Kong and 10 neighbouring cities into an economic powerhouse, the South China Morning Post has learned.
Workers in Hong Kong and Macau expect to need about 70 per cent of their current income to retire.