Please click Terms and conditions to read the Terms of Use of this website before proceeding. Please click the "Accept" button below to continue if you have read and agree to abide by the Terms of Use. Otherwise, please click "Decline" to leave the website.
Terms of Use
You must read the following information before proceeding. By accessing this website / application and any pages thereof, you acknowledge that you have read the following information and accept the terms and conditions set out below and agree to be bound by such terms and conditions. If you do not agree to such terms and conditions, please do not access this website / application or any pages thereof.
General
This website / application has been prepared by FIL Investment Management (Hong Kong) Limited and for informational purposes only. FIL Investment Management (Hong Kong) Limited, FIL Limited and its subsidiaries are commonly referred to as Fidelity or Fidelity International ("Fidelity"). The information on this website / application is intended for Hong Kong residents and is for reference only. None of the Fidelity products referred to on this website have been approved for sale or purchase by any authority outside Hong Kong. Persons resident in territories other than Hong Kong should consult their professional advisers as to whether they may subscribe for the products and services described in this website / application or whether they require any governmental or other consents or need to observe any formalities to enable them to do so. Certain Fidelity products sold in Asia may be established in Luxembourg. The information contained in this website / application does not constitute a distribution, an offer to buy or sell any securities or the solicitation of any offer to buy or sell any securities, engage the investment management services of Fidelity in any jurisdiction in which the distribution or offer is not authorized or would be contrary to local laws or regulations. Without limitation, the information in this website / application is not for distribution and does not constitute an offer to buy or sell any securities in the United States of America to or for the benefit of United States persons (being residents or citizens of the United States of America or partnerships or corporations organized under the laws of the United States of America). It is the responsibility of the persons who access this website / application to observe all applicable laws and regulations.
Fidelity reserves the right to grant or revoke the authority to use the Fidelity Internet sites at its absolute discretion. Whilst every reasonable precaution has been taken to ensure the accuracy, completeness, security and confidentiality of information available through the Fidelity Internet sites, Fidelity makes no warranty as to the accuracy, completeness, security and confidentiality of such information. Fidelity, its affiliates, directors, officers or employees accept no liability for any errors or omissions relating to information available through the Fidelity Internet sites. Fidelity cannot be held responsible for any consequence of any action carried out by any user authorised or unauthorised.
These Terms of Use are in addition to any other agreements between you and FIL Investment Management (Hong Kong) Limited, including any customer or account agreements, and any other agreements that govern your use of FIL Investment Management (Hong Kong) Limited’s products, services, content, tools and information available on this website / application.
We reserve the right to change the website / application and the Terms of Use at any time without notice. If you use the website / application after the amended Terms of Use have been published, you will be deemed to have agreed to the Terms of Use, as amended.
Use of website
Unless otherwise specified, information contained in this website / application does not constitute investment advice or recommendations. Users are solely responsible for determining whether any investment, security or strategy, or any other product or service is appropriate or suitable for them based on their investment objectives and personal and financial situation unless otherwise agreed by FIL Investment Management (Hong Kong) Limited. Any person considering an investment should seek independent advice on the suitability or otherwise of the particular investment. While certain tools available on the website / application may provide general investment or financial analyses based upon your personalized input, such results are for your information purposes only and you should refer to the assumptions and limitations relevant to the use of such tools as set out in this website / application. Users should consult their independent professional advisers should they have any questions. The information contained in this website / application is only accurate on the date such information is published on this website / application.
Third Party Content
This website / application includes material from third parties or links to websites maintained by third parties some of which is supplied by companies that are not affiliated with any Fidelity entity ("Third Party Content"). Third Party Content is available through framed areas, through hyperlinks to third party web sites, or is simply published on the site. The Third Party Content is protected by copyright pursuant to Hong Kong laws and international treaties and is owned or licensed by the Third Party Content provider(s) credited.
Fidelity has not been involved in the preparation, adoption or editing of such third party materials and does not explicitly or implicitly endorse or approve such content. Any opinions or recommendations expressed on third party materials are solely those of the independent providers, not of Fidelity.Fidelity is not responsible for any errors or omissions relating to specific information provided by any third party.
While Fidelity makes every attempt to provide accurate and timely information to serve the needs of users, neither Fidelity nor the Third Party Content providers guarantee its accuracy, timeliness, completeness, usefulness or any other aspect of the information and are not responsible or liable for any such content, including any advertising, products, or other materials on or available from third party sites. You will access and use Third Party Content at your own risk. Third Party Content is provided for informational purposes only, and Fidelity and the Third Party Content providers shall not be liable for any loss or damage arising from your reliance upon such information.
Internet Communication
Messages sent over the Internet cannot be guaranteed to be completely secure. Fidelity will not be responsible for any damages incurred by investors as a result of any delay, loss, diversion, alteration or corruption of any message either sent to or received from Fidelity at investors’ request, over the Internet. Fidelity is not responsible in any manner for direct, indirect, special or consequential damages arising out of the use of this website / application.Communication over the Internet may be subject to interruption, transmission blackout, delayed transmission due to Internet traffic or incorrect data transmission due to the public nature of the Internet or otherwise.
Fidelity does not represent or warrant that this website / application will be available and meet investors requirements, that access will not be interrupted, that there will be no delays, failures, errors or omissions or loss of transmitted information, that no viruses or other contaminating or destructive properties will be transmitted or that no damage will occur to investors computer system. Investors have sole responsibility for adequate protection and back up of data and/or equipment and for undertaking reasonable and appropriate precautions to scan for computer viruses or other destructive properties. Fidelity makes no representations or warranties regarding the accuracy, functionality or performance of any third party software or service providers that may be used in connection with the site.
Intellectual Property Rights
Copyright, trade marks, database rights, patents and all similar rights in this site and the information contained in it are owned by Fidelity, its licensors or relevant third party content providers. Users may use the information on this site and reproduce it in hardcopy for their personal reference only. The information may not otherwise be reproduced, distributed or transmitted to any other person or incorporated in any way in to another database, document or other material. Any copy of materials which a user makes from the site must retain all copyright or other proprietary notices and disclaimers contained therein. Trade names referred to in this site are trade marks owned by or licensed to Fidelity or other content providers. Trade marks owned by Fidelity or providers of content on the site are used to act as an indication of source or origin of associated services. Nothing on this site should be considered as granting any licence or right under any trade mark of Fidelity or any third party, nor should a user attempt to use, copy adapt or attempt to register any similar trade marks to any trade marks or logos appearing on the website / application or in the Information herein.
Fidelity, Fidelity International, the Fidelity International logo and F symbol are trademarks of FIL Limited.
Third party marks appearing in this website / application are the property of their respective owners and used with the permission of such owners, where necessary.
Governing Law
These Terms of Use shall be governed by the laws of Hong Kong Special Administrative Region.
Languages
In case of discrepancies between the English and Chinese language versions of these Terms of Use and content of this website / application, the English version shall prevail.
Start saving for retirement now!
04 Sep 2024
In the Chinese culture, the older generation tends to rely on their children to support them after they retire. However, nowadays Hong Kong people life expectancy has increased to older than 80 years old. You can imagine the challenges your children will bear if you just solely depend on them on economic support.
1. Older workers worry about the insufficient retirement fund
According to the annual Global Sentiment Survey1 conducted by Fidelity International, the latest figures indicate that “Preparations for later life” and “Being financially comfortable in retirement ” are primary financial goals for more than 90% of Hong Kong respondents. However, about a quarter of them expressed that they have no confidence in achieving these goals. Meanwhile, close to 30% of older workers* are anxious about using up their retirement savings too soon and 18% are worried about the inability to generate income after retirement.
The survey also reveals that on average 35% of respondents expecting retirement expenditures to account for 26% to 50% of their pre-retirement income.
As a result, more than 22% of respondents aged 50 and above anticipate deferring their retirement, with 41% of them explaining insufficient retirement savings as the main reason.
To prevent facing a shortage of resources after retirement, workers should commence saving for retirement at the soonest.
2. Saving 20% of income for retirement
Fidelity's Retirement Savings Guidelines2 suggest that Hong Kongers should save 20% of pre-tax pre-retirement income starting from 25 years old. Fidelity estimates that you need to have 12 times pre-retirement income savings by age 65. That 12 times goal may seem ambitious.But you have many years to achieve it. It is recommended to have at least 2 times pre-retirement income by ag 30, 5 times by age 40, 8 times by age 50 and 11 times by age 60.
3. 1% Power of Small Amounts
If you have difficulty saving 20% right now, try to commit to an additional 1% contribution into your workplace pensions scheme. 1% of your income sounds small but the benefits of compounding over 20 or 30 years could may make a significant difference in the size of your pension pot when you retire.
Want to know how much of an impact a 1% increase in savings or workplace pension can make for you? Use our interactive calculator. See how a small change can make a big difference.
Indeed, 1% is just a start. The more you can save, the better. Whether it's 1%, 3% or 5% extra, the additional money saved today could make a big difference when it comes to helping you achieve the retirement you want.
1 The Fidelity Global Sentiment Survey 2023’s data collection, research, and analysis in regard to global employees and was completed in partnership with Opinium, a strategic insight agency. Data collection took place in July 2023. The sample consisted of 26,000 respondents with the following qualifying conditions: aged 20–75; either they or their partner were employed full-time or part-time; not all regions were asked about sexual orientation or gender identities (individuals that did not identify as either as male or female did not represent a statistically significant sample size and are not presented within this piece); a minimum household income of: Australia: AUD $45,000 annually; Brazil: BRL $1,501 monthly; Canada: CAD $30,000 annually; China: CNY ¥5,000 monthly; Denmark: DKK Kr.100,000 annually; France: EUR € 20,000 annually; Germany: EUR € 20,000 annually; Hong Kong: HKD $15,000 monthly: India: INR₹55,001 annually; Republic of Ireland: EUR € 20,000 annually; Italy: EUR €15,000 annually; Japan: JPY ¥1.5m annually; Mexico: MXN $4,500 monthly; Netherlands: EUR € 20,000 annually; Saudi Arabia: SARر.س.س4,000 monthly; Singapore: SGD 2,000 monthly; South Korea: KRW₩1.0m monthly; Spain: EUR kr€15,000 annually; Sweden: SEK kr200,000 annually; Switzerland: CHF CHf20,000 annually; United Kingdom: GBP £10,000 annually; United Arab Emirates: AEDإد.إ5,000 monthly; United States: USD $20,000 annually.
2 Fidelity Retirement Savings Guidelines is based on four key metrics - savings milestones, savings rate, income replacement rate and probable sustainable withdrawal rate. Fidelity Retirement Savings Guidelines suggest that people in Hong Kong should save 12 times their annual income by the age of 65 and save at least 20% of pre-tax income in order to maintain their current lifestyle in retirement. The Fidelity Retirement Savings Guidelines are for reference only and certain assumptions are applied.
* Younger workers, aged 20-38; Middle-aged workers, aged 39-54; Older workers, aged 55≥
Understand Financial Wellness
Understand the definition and importance of being financial well
Determine your Financial Wellness
Assess your personal financial wellness with our easy-to-use tool
