Only one-third of Hong Kong citizens see retirement investment as source of income

A survey conducted by Fidelity showed that retirement investment in Hong Kong is yet to catch on as only a third of Hongkongers see it as a source of income. The survey, which involved 1,000 employees aged 20 to 75, asked respondents on their retirement plans in Hong Kong. Among the respondents, only 33 % expressed reliance on retirement investment products while more than 60% said they would live off their personal savings or pension savings. The respondents polled earned more than HKD15,000 every month. Meanwhile, the Mandatory Provident Fund scheme provider has launched the RetireEasy Fund, a product with mixed assets designed for post-retirement, with a fund management fee of 1.2%.