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Getting Back on Track - SPONSORED - Magazine | Asia Asset Management - Vimarsana News

Getting Back on Track - SPONSORED - Magazine | Asia Asset Management

Sponsored The Covid-19 pandemic has unleashed a global economic crisis that has had a dramatic impact on all aspects of society and life. In Hong Kong, the unemployment rate is at its highest in 16 years and is expected to edge up to near 7% around the Lunar New Year 1. As the economic situation remains uncertain, even those who remain employed have seen their income affected. A recent desired retirement tracker survey reveals that 55% of respondents have had their income affected by the pandemic, and 38% have used their retirement reserves to meet daily expenses. The survey also reveals that...

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Hong KongCauseway BayHong Kong GeneralHong KongersElaine LauOur Hong Kong FoundationProvident FundHong Kong Pension Schemes AssociationLunar NewPension Schemes AssociationTax Deductible Voluntary ContributionsMandatory Provident FundHong Kong FoundationTimes SquareSponsored The Covid 19 Pandemic Has Unleasheda Global Economic Crisis That Hada Dramatic Impact On All Aspects Of Society And Life In Hong KongThe Unemployment Rate Is At Its Highest In 16 Years And Expected To Edge Up Near 7 Around Lunar New Year1 As Economic Situation Remains UncertainEven Those Who Remain Employed Have Seen Their Income Affecteda Recent Desired Retirement Tracker Survey Reveals That 55 Of Respondents Had Affected By The PandemicAnd 38 Have Used Their Retirement Reserves To Meet Daily Expenses The Survey Also Reveals That For Those With InsufficientThe Median Retirement Reserve Shortfall Has Reacheda Record High Hk 2 23 Million Us 287617 Some 61 Of Respondents Say They Will Have To Delay Their Retirement Plans Focus On The Future According Elaine LauChairman Of Hong Kong Amp Rsquos Pension Schemes Association PsaWhile Many Have Seen Their Retirement Plans Derailed By The PandemicIt Is More Important Than Ever To Get Them Back On Track Amp Ldquo Retirement Planning Isa Long Term ChallengeAmp Rdquo She Explains Ldquo While It May Be Necessary To Respond Short Term Events And Make Difficult Decisions About Our Financial PlansWe Must Always Bear In Mind How Tapping Into Our Savings The Short Term Will Affect Long Financial Well Being Amp Rdquo As New Normal Takes Hold Anda Vaccine Rollout Lifts Hopes For An Economic Recovery