China:65% do not expect to retire

19 Jun 2018

About 75% of Chinese adults expect to live past 80 years old. While only 43% are confident they have saved or invested enough to provide income for retirement, 70% expect to maintain their quality of life after retiring.

These are some of the findings of Mercer’s “Healthy, Wealthy and Work-Wise: The New Imperatives for Financial Security” study.

The Chinese are also more likely to see themselves living past 100 years old compared to other nations. Many expect to spend 20-25 years in retirement — above the global average of 15-20 years. This will require flexibility in benefits and savings and will affect decisions to continue working or adjust lifestyles.

65% do not ever expect to retire or expect to keep working in some capacity after retirement. In addition, 18% specifically cite they plan to work in some capacity as a source of their retirement income.

The study also suggests that the Chinese place a heavy reliance on external sources — such as government, pension funds, employers, family, life insurance and financial advisors — to provide for them in retirement and a trust of all as potential sources of financial advice.


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More than any other segment in the survey, 72% of millennials in China expect to keep working in later life. It is evident they need assistance in calculating the income needed for retirement: only 9% of Millennials have made the calculations themselves, while 77% have done so with help.

As digital natives, not surprisingly, they are the most interested in online tools and mobile apps. In fact, nearly all, 99%, of 18- to 34-year-olds say online financial tools are of interest and 94% are willing to allow online apps to hold personal information — among the highest levels in the global survey.

See also: Are you an eagle or a chicken?

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