Nearly 21% people haven't started saving for retirement yet: HSBC survey

Nearly 21% people haven't started saving, while 41% of those who are saving feel they should have started earlier, reveals the HSBC Future of Retirement survey.

Pre-retirees expect to save for 6 years longer than current retirees did:

28% of retirees have credit card repayments as an expense. Only 18% pre-retirees expect to do so when they retire.

44% of pre-retirees who started saving for retirement have either stopped and/or faced difficulties while saving.

14% of pre-retirees believe income from downsizing or selling a property is likely to help them fund retirement.
















SOURCE: HSBC Future of Retirement - Generations and Journeys. The report covers 18,207 people in 17 countries and territories. India report covers 1,011 people. All references to retirees refer to people who are semi or fully retired, and references to pre-retirees refer to working age people who are yet to fully or semi-retire. All responses may not add up to 100% due to multiple choices.