Almost half of UAE people are not saving for their pension
43% of surveyed people in the UAE said that they have not started saving for retirement or have stopped/faced difficulties.
The inflation in 2015 in Dubai was 5% (source: euromonitor).
When almost half of the people in a country are not saving for their future or frequent enough and simultaneously inflation rates can reach levels of 5% meaning that the prices will double in approx 14 years with inflation levels of 5%. Priorities need to be set for example a new car or a better future? A new apartment with a better view or a place to stay in the future? Postponing saving for your pension is the worst thing people can do. Prices will continue to go up and the amount put aside for their pension is not growing. Which will increase the gap for their pension.
‘Reproduced with permission from The Future of Retirement Generations and journeys, published in 2016 by HSBC Holdings plc.’
Posted on Sat, June 3, 2017
by Simon Snelder filed under