Retirement life planning

Start your retirement planning early to secure sufficient financial resources for your ideal retirement life

Plan ahead for your ideal retirement

With longer life expectancy and rising inflation, retirement planning is essential for building a comfortable and secure retirement life. Check out our retirement planning guide and start planning the retirement you want.

Set a clear retirement goal and create your own retirement plan

It is important to plan your future retirement, regardless of how old you are. The earlier you start planning and saving for retirement, the more time you will have to benefit from the power of compounding effect and grow your wealth, which helps ensure sufficient funding and protection to support your retirement life.

  • Set your retirement goal: Retirement lifestyles vary from person to person. Start planning your retirement by figuring out the goals. For example, think about at what age you would like to retire and what your preferred lifestyle is. Then you can work out how much saving you need to achieve it.
  • Calculate retirement savings: Remember to factor in your retirement age, health condition, inflation rate, expected income and expenditure in your retirement years. There is no definitive answer when it comes to retirement saving. Yet, according to a survey on retirement1 (Chinese version only) conducted by Hang Seng Bank in mid-2022, respondents with liquid assets of more than HKD1 million expected they would need to spend HKD276,000 a year after retirement to maintain their current standard of living.

Prepare your financial reserves and secure medical protection

After setting a clear retirement goal, you should work towards it by saving, investing, building protection, and select the appropriate financial products for your retirement needs.

  • Save and invest: The majority of workforce have some sort of retirement protection from different retirement schemes like MPF. However, these schemes may not be able to support your ideal retirement goal with basic protection. To help expand your retirement reserves, you might start by building the habit of saving and investing. Below are some examples on common wealth accumulation products.
    • Endowment plans: An insurance plan with savings element, where the policyholder pays premiums regularly over a period of time and gets a guaranteed cash value upon maturity
    • Monthly Investment Plan for Funds: This regular subscription investment helps you build investment habits where you can invest your contribution consistently to grow your wealth and benefit from "Dollar Cost Averaging" to reduce the overall impact of market volatility
  • Make extra income during retirement: Besides saving for retirement reserves, you may consider to use part of it to invest in products that would help create a stable income stream during your retirement. Deferred annuity is one of the common retirement products that would help generate passive income for retirees. It involves accumulation and annuity period. You pay the premiums for a fixed duration, then the paid-up sum would build up in value during the accumulation period, then you would start receiving regular annuity income at annuity period.
  • Secure health protection: Employees may lose their job-based health coverage upon retirement. Make sure you are well covered with medical insurance during your retirement, or else the heavy medical expenses, whether arising from illness or accidents, would drain your retirement savings and hence disrupt your retirement life.

Enjoy retired life

While enjoying your retirement years, don't forget to properly manage your retirement savings.

  • Withdrawal of MPF: When you retire at the age of 65 or retire early at the age of 60, you can withdraw your MPF accrued benefits in a lump sum or by instalments depending on your personal needs and financial circumstances.
  • Enjoy social welfare: The government offers a variety of social benefits to the elderlies, including non-means-tested Old Age Living Allowance, Health Care Voucher Scheme, Senior Citizen Card Scheme, and transportation allowance, which help retirees reduce daily costs.
  • Manage your retirement savings carefully: It is important to keep a close eye on your income and expenses. You may consider to invest in low-risk products like time deposits to grow your retirement income. Besides, the Hong Kong government has issued the Silver Bond previously, which allows the senior citizens aged 60 or above to earn steady returns. Interest payments are paid every six months and are linked to the average annual inflation rate, subject to a minimum interest rate. These kinds of products might help support your retirement life by increasing savings.

Get your finances sorted and enjoy life after retirement

Explore our products

eIncomePro Deferred Annuity Plan (100% Guaranteed)

  • Enjoy Monthly Guaranteed Annuity Income for 10 years with life protection and free accidental death benefit for short premium payment period of 5 years
  • Certified as Qualifying Deferred Annuity Policy thus relevant premiums are qualified for tax deductions2
  • Easy online application with guaranteed acceptance
Terms and Conditions apply, please note the relevant product risks and credit risks, please read the Product Brochure for details. eIncomePro Deferred Annuity Plan (100% Guaranteed) is underwritten by Hang Seng Insurance Company Limited.

5-Year eEndowment Life Insurance Plan

  • Providing a Guaranteed Cash Value upon maturity for reaching saving goals
  • Various currency options with a minimum premium of HKD600 per month        
Terms and conditions apply, please note the relevant product risks and credit risks. 5-Year eEndowment Life Insurance Plan is underwritten by Hang Seng Insurance Company Limited.

Bupa Hero VHIS Plan

  • Full cover for cancer treatments
  • Enhanced cover including unknown pre-existing conditions
  • Eligible for tax deduction3
This is a VHIS flexi plan (No. F00040) certified by the Health Bureau of Hong Kong and underwritten by Bupa (Asia) Limited.

Monthly Investment Plan for Funds

  • Start your investment as low as HKD500 per month with free termination at any time
  • Invest with Dollar Cost Averaging through regular contributions to smooth out the effects of short-term market fluctuations
Investment involves risk.

Read on to realise your key life moments

Financial Independence, Retire Early (FIRE)

Understand the financial pyramid to help achieve financial freedom and early retirement

4 Ways to achieve healthy living

Learn how to live healthier by adopting healthy habits and planning your health protection in advance

Comparing investment products

A simple comparison on 3 types of investment products: funds, stocks and ILAS

Tips for vulnerable customers

Understand what vulnerable customers refers to and the additional investment protection measures



The information is provided by Hang Seng Bank Limited or its affiliates ("Hang Seng") for general information and reference only and does not constitute nor is it intended to be construed as any professional advice or recommendation. The information provided is based on sources which Hang Seng believes to be reliable but has not been independently verified. Any information provided herein are subject to changes without notice. No guarantee, representation, warranty or undertaking, express or implied, is made as to the fairness, accuracy, timeliness, completeness or correctness of any general information, projections and/or opinions ("Information") provided on this webpage and the basis upon which any such Information have been made, and no liability or responsibility is accepted by Hang Seng in relation to the use of or reliance on any such Information whatsoever provided on this webpage. Readers must make their own assessment of the relevance, accuracy and adequacy of the information provided on this webpage and make such independent research/investigations as they may consider necessary or appropriate for the purpose of such assessment. Hang Seng does not make any representation or recommendation or assessment as to whether or not any of the information mentioned herein is/are suitable or applicable to any persons and thus shall not be held responsible in this regard.

Other point(s) to note

  1. To borrow or not to borrow? Borrow only if you can repay!
  2. Investment involves risks.
  3. Terms and Conditions apply.
  4. Hang Seng Insurance Company Limited is authorized and regulated by the Insurance Authority of the HKSAR. The above Life Insurance Plans are underwritten by Hang Seng Insurance Company Limited, which is authorised and regulated by the Insurance Authority of the HKSAR. Hang Seng Bank is an insurance agent authorised by Hang Seng Insurance Company Limited and the insurance products are products of Hang Seng Insurance Company Limited but not Hang Seng Bank. You have to pay premium to Hang Seng Insurance Company Limited for your application for the Plan. The premium includes various fees and charges such as insurance cost (e.g. cost of death benefit determined formulated according to the mortality rate that is affected by sex and age of the insured person) and policy administration charges, etc. You also understand that Hang Seng Insurance Company Limited will pay commissions and sales incentives to Hang Seng Bank for marketing the Plan. The current remuneration system that Hang Seng Bank adopts is a measurement of the staff’s overall performance instead of focusing on sales production only. In respect of an eligible dispute (as defined in the Terms of Reference for the Financial Dispute Resolution Centre in relation to the Financial Dispute Resolution Scheme) arising between Hang Seng Bank and you out of the selling process or processing of the related insurance product transaction, Hang Seng Bank will enter into a Financial Dispute Resolution Scheme process with you; however any dispute over the contractual terms of the insurance products should be resolved between Hang Seng Insurance Company Limited and you directly.
  5. This Bupa Hero VHIS Plan plan is certified by the Food and Health Bureau of Hong Kong and is underwritten by Bupa (Asia) Limited ("Bupa") which is authorised and regulated by the Insurance Authority in Hong Kong. Hang Seng Bank Limited (“Hang Seng Bank”) is an insurance agent authorised by Bupa for distribution of this plan. Premium will be payable to Bupa upon enrolment in this plan. Bupa will provide Hang Seng Bank with the relevant commission and performance bonus in accordance with the selling of this plan. The existing sales staff remuneration policy offered by Hang Seng Bank will take into account various aspects of staff performance but not solely the sales amount. Health Coaching Services is provided by Bupa. In respect of an eligible dispute arising between Hang Seng Bank and the customer out of the selling process or processing of the related transaction, Hang Seng Bank is required to enter into a Financial Dispute Resolution Scheme process with the customer; however, any dispute over the policy terms or performance (claims and service) of the product should be resolved directly between Bupa and the customer.
  6. All investments involve risks (including the possibility of loss of the capital invested). Prices of securities and investment products may go up as well as down and may even become valueless. Past performance information presented is not indicative of future performance. The risk disclosure statements and the offering documents of the relevant securities and investment products should be read in detail before making any investment decision.
  7. Investors should note that all investments involve risks (including the possibility of loss of the capital invested), prices or value of investment fund units may go up as well as down and past performance information presented is not indicative of future performance. Investors should read carefully and understand the relevant offering documents of the investment funds (including the fund details and full text of the risk factors stated therein) and the Notice to Customers for Fund Investing before making any investment decision. Investment funds are investment products and some may involve derivatives. Investors should carefully consider their own circumstances whether an investment is suitable for them in view of their own investment objectives, investment experience, preferred investment tenor, financial situation, risk tolerance abilities, tax implications and other needs, etc., and should understand the nature, terms and risks of the investment products. Investors should obtain independent professional advice if they have concerns about their investment.


  1. Survey results are for reference only.
  2. eIncomePro is certified by the Insurance Authority ("IA") as a Qualifying Deferred Annuity Policy ("QDAP"). However, the IA certification is not a recommendation or endorsement of the policy nor does it guarantee the commercial merits of the policy or its performance. It does not mean the policy is suitable for all policyholders nor is it an endorsement of its suitability for any particular policyholder or class of policyholders. The policy has been certified by the IA but such certification does not imply official recommendation. The IA does not take any responsibility for the contents of the product brochure of the policy, makes no representation as to its accuracy or completeness, expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of the product brochure of the policy. The QDAP status of this product does not necessarily mean you are eligible for tax deduction available for QDAP premiums paid. This product’s QDAP status is based on the features of the product as well as certification by the IA and not the facts of your own situation. You must also meet all the eligibility requirements set out under the Inland Revenue Ordinance and any guidance issued by the Inland Revenue Department of the HKSAR before you can claim these tax deductions. Any general tax information provided is for your reference only, and you should not make any tax-related decisions based on such information alone. Please note that only the premium paid net of any marketing offers (e.g. discount, premium waiver, etc.) might be eligible for tax concession and the actual tax benefits of this Policy depend on your personal tax position (e.g. salaries income and assessable profits) and you should always consult a professional tax advisor if you have any doubts. Please note that the tax law, regulations or interpretations are subject to change and may affect related tax benefits including the eligibility criteria for tax deduction. We have no responsibility to inform you about any changes in the laws and regulations or interpretations, and how they may affect you. Further information on tax concessions applicable to QDAPs may be found at Insurance Authority website .
  3. Any Hong Kong taxpayer who has purchased an eligible health insurance plan (certified by the Food and Health Bureau as VHIS) can claim a tax deduction on qualifying premiums up to HKD8,000 per insured person each year. The relationship between the taxpayer and the insured person must be included in the definition of “specified relative” as set out in the Inland Revenue Ordinance (Cap. 112 of the Laws of Hong Kong SAR). You can claim the deduction in the same tax year when the premium was paid. The deduction is available for certified plans, but not any other optional benefits, with policy effective date of 1 April 2019 or later. There is no limit on the number of insured persons and/or policies claimed by each taxpayer. Policies purchased for a domestic partner, grandchild(ren) or domestic partner’s parents/children are not eligible for tax deduction. For details about tax deduction, please visit