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Roadmap to women’s financial and retirement journey

The social and economic implications of an ageing population are increasing. Women in Hong Kong are more likely to face challenges in retirement income as life expectancy increases to 88 years.

The Fidelity International Global Women and Money Study conducted in Hong Kong and seven other markets in 2023 found that women’s concern about the cost of living has intensified. Additionally, only 36% of women in Asia Pacific feel confident about their finances.

Women are less confident than men in their overall financial knowledge or ability to make the right decision about investing. The study revealed that women tend to focus on budgeting and saving rather than investing to expand their retirement income pool. Cash savings and term deposits are most popular amongst women to consider investing post retirement. 

Despite the lack of confidence, 60% of women in Hong Kong are interested in managing their finances. They also prioritise education on investing and budgeting.


What women in Hong Kong had to say




Confidence level remains low

Less than half of women in APAC feel confident about their overall financial situation.

Women in Hong Kong are concerned about the cost of living (83%) and reduction of salary income (45%). They also find financial matters confusing (36%), posing an additional barrier to their retirement journey.



Implications of gender pay gap and contrasting investment attitudes 

Women in Hong Kong reported on average holding 19% less in savings and 26% less in investments, when compared to men. This can contribute to longer term retirement income shortfalls.



Lack of confidence in their retirement income

Only 27% of women in Hong Kong believe their retirement fund can last for 20 years or more. In comparison, women in Hong Kong expect 25 years of retirement life.

Women in Hong Kong tend to focus on reducing their expenses, working for longer, and topping up their savings. Comparatively, a significantly higher percentage of men consider investing as an option for increasing their retirement income.



Expectations on risk and return in post-retirement investing 

In Hong Kong, the majority of women expect 5-10% investment return after retirement and will only accept a fluctuation of ±5%.

This expectation can pose a barrier for women achieving their investments goals.


About the Fidelity International Global Women & Money Study 2023

The survey was conducted by YouGov in six markets between 22 December 2022 to 8 January 2023. Respondents are aged between 18 to 69 with 2,086 in Hong Kong, 2,115 in Singapore, 2,104 in Taiwan, 2,086 in Australia, 2,083 in mainland China and 2,101 in Japan. The UK section was conducted by Opinium and the Germany section was conducted by Kanter. The Hong Kong sample size is 1085 women and 1001 men.

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