HSBC Survey: Chinese upbeat about retirement

16:54, May 31, 2011      

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Up to 67 percent of Chinese believe that they will be better off than their parents after retirement, according to a survey by HSBC. This optimistic attitude puts China in second place following India, which recorded 69 percent — far exceeding developed countries.

In a survey of 17,000 working adults in 17 countries and regions, HSBC found that Chinese feel more hopeful and relieved about their post-work lives, which is attributed to the remarkable economic growth over the past years.

Nearly one in five respondents claimed they were well prepared for retirement. Around 40 percent of participants think that the endowment insurance will become the major source of income during retirement. However, the survey states that Chinese worry about the cost of caring for their aging parents most.

According to the survey, most of the participants from developed countries expressed their concerns that their quality of life during retirement life might be lower than that of their parents due to high unemployment and the downturn in the economy. France tops the list of countries holding a pessimistic view, followed by America, England and Poland.

By People's Daily Online
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