Many Hongkongers must work past retirement age as they face US$300,000 shortfalls in their average pension savings: Schroders survey

The average Hongkonger faces a HK$2.4 million (US$300,000) gap between their expected post-retirement expenses and the money available in their pension funds, according to a survey released on Tuesday.

As a result of the eye-watering shortfall, almost three quarters of people believe they will need to continue to work beyond the expected retirement age, according to the recent survey of 1,000 Mandatory Provident Fund (MPF) members carried out by Schroders.