Archive for the ‘HSBC Report’ Category
HSBC Report: “We Are not near Rich Enough for Retirement”
HSBC’s latest pensions report should not be a surprise to the majority of people. To summarise the report is simply to repeat what we are very mindful – the majority of us aren’t rich enough for retirement. The report has been manufactured by HSBC since 2005 – and most 110,000 people surveyed globally since its inception. The problems facing countries all over the world are simple – ageing populations, better life-span and health in retirement combined against a shrinking working age population. The difficulties are particularly marked in america and in European nations. The 2011 report ‘The Power of Planning’ has become made out of surveys conducted world-wide and received greater than 17,000 responses.
Head in the sand?
The main focus on this year’s report is the need and benefits of planning in retirement. Key findings indicate that only 40% of the UK’s households are making any financial plans for his or her future – while 20% do not know have concept of what their supply of retirement income will probably be. The fact planning for retirement needs to be our priority is highlighted within the report’s findings. Factors that have a positive influence on income during retirement are planning and advice. Of those who had plans available along taken slowly move the survey found they were likely to have 249% with the UK average investments and savings on retirement.