44 % of rsidents have not started saving for their retirement. Many residents said they intend to start saving at a later stage in their lives.
Event Location
Dubai, Dubai
Start Time
14 April 2022, 12:00 AM
End Time
30 April 2022, 12:00 AM
Almost half of UAE residents intend to retire at the age of 55 but 45 per cent have not even started saving for their retirement yet, says a new survey released on Wednesday.
Surprisingly, many residents said they intend to start saving at a later stage in their lives.
Survey conducted by Friends Provident International (FPI) revealed that nearly two-thirds – 63 per cent – of UAE residents plan to retire before they reach the age of 60.
Of those UAE residents who said they do have some savings, over half – 53 per cent – of them said they’re in the form of general bank deposits.
The FPI survey found that some residents believe that they don’t need to plan very far ahead of their retirement.
Around 40 per cent said they will start saving for their retirement either 10 years or less before they retire.
“There appears to be a strong disconnect between the aspirations of many individuals in this survey in the UAE to retire early and the reality of how much they will need to save for retirement,” said Stuart Shilcock, head of sales for the Middle East at FPI.
UAE retirement savings survey
