The number of people aged 60 years
and over is increasing. ;According to the UN, by ;2050 it is projected
to reach almost two billion, or 22% of the world’s population. Increasing
longevity is changing the way we live and work. HSBC is dedicated to advancing
the global debate on maturing populations and our changing approach to ageing
and retirement. By building a vast resource of knowledge to engage and inform
a range of people worldwide, we aim to help governments, individuals and businesses
better understand the significant changes they are going to experience.
The Future of Retirement: What the
world wants study is the world’s largest
survey on attitudes to ageing, longevity and retirement conducted amongst
21,329 individuals and 6,018 private sector employers in 20 countries and
territories across five continents. The results compare the attitudes of employers
and consumers regarding ageing and retirement.
The French view their later years as a whole new chapter of life where
they can fulfill their dreams and aspirations, as well as a time of worry
and concern. Friends and family, health, and staying young at heart are very
important to achieving a happy old age in France. The majority of French people
support enforced additional private savings as the best approach to avoid
a retirement funding shortfall.
- Though
they think satisfying work can contribute to happiness in later life, they
would prefer to have a balance between periods of work and leisure. - Many French
feel that the government will fall short in providing retirement benefits,
so they are taking responsibility for their own retirement planning. - In France,
most people expect to turn to their children for care and support in their
old age. - The French
have serious concerns for their later years regarding their health, being
a burden to their families, having too little money, and outliving their
friends and loved ones.
- Most respect
their elders and think they’re interesting to be around.
French employers are among the least active at recruiting employees over
the age of fifty – a very high proportion say they don’t do more as they don’t
need to. They also do the least to retain older workers with valuable skills
and the worst for encouraging older employees to continue working. While they
do see older workers as more loyal, they also view them as more expensive
than their younger counterparts. However, recognising that the departure of
older workers means the loss of valuable skills and knowledge, many French
companies offer some flexible working benefits for older workers and the majority
of French companies do not have a mandatory retirement age.
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