The retirement needs of Hong Kong’s baby boomers consist of three pillars: stable income, access to affordable and quality healthcare, and reasonably priced accommodation, according to the chief executive of BOC Life.
“These aspirations of a generation with significant wealth now entering retirement are easily attainable, as the quality of cross-border healthcare services improves and the acceptance of Hong Kong retirees within China’s healthcare system and accommodation rises,” said Wilson Tang.
A recent survey sponsored by the Golden Age Foundation for BOC Life showed that 24 per cent of respondents were willing to retire outside Hong Kong, up from less than 5 per cent 10 years ago, he added.
The study polled 428 professionals aged 45 or above in sectors such as healthcare, social welfare, construction and business between May 28 and June 3 this year.
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Elderly, alone and barely getting by: the plight of Hong Kong’s most underprivileged seniors
Elderly, alone and barely getting by: the plight of Hong Kong’s most underprivileged seniors
The survey showed that 24 per cent of respondents were seriously considering relocating outside Hong Kong for retirement in the next decade. The Greater Bay Area cities of mainland China were the most popular at 42 per cent, followed by the UK, Canada and Australia at 33 per cent and Southeast Asia at 12 per cent.
