Mainland residents ready for retirement
Print Edition
Residents in China’s mainland are more ready for retirement than the average of six Asian markets, DBS Bank and Manulife said in a report yesterday, adding that Indonesia and India scored higher than the mainland.
The Retirement Wellness Index came in at 61 for China’s mainland, above the average of 56 for the six markets covering the mainland, Hong Kong, Indonesia, India, Singapore and Taiwan.
Indonesia at 72 points and India at 69 points scored higher than the mainland.
The index measured respondents’ readiness for retirement in terms of health, wealth and social aspects.
The mainland respondents were the most ready for health at 70 points, and the least prepared for wealth at 55 points, the study showed.
They plan to prepare for retirement at the age of 44 on average, and generally set aside 30 percent of their monthly income for retirement needs.
The Asian study covered 6,000 people aged between 40 and 60, of whom 1,002 were from the mainland.
DBS China and Manulife-Sinochem Life Insurance also said yesterday that they will jointly develop a family protection plan.
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