Wealthy focus on pensions for investments - Rupert Hoogewerf

Rupert Hoogewerf

China ages and its wealthy are looking for new ways to invest their money and secure their future, says a new report by Hurun and Taikang Life insurance. "The aging group expects to lead colorful and relaxed lives, and also to travel extensively after retirement," Hurun chair Rupert Hoogewerf said to Global Times.

Global Times:

One of the main reasons behind the potential surge in the pension market is the rise in the number of Chinese HNWIs, or individuals with 10 million yuan of personal wealth or more, experts noted. There were 1.34 million such people of May 2016, up 10.7 percent year-on-year, said the report. 

"For Chinese HNWIs, healthcare has surpassed financial investment and ranks first among the topics of concern in 2016," Rupert Hoogewerf, the chairman of the Hurun Report, said at the press briefing... 

According to the report, the proportion of respondents who choose senior living communities after retirement has grown 13 percentage points from 2015 to 28 percent in 2016, while the group opting for retiring at home has contracted 20 percentage points to 57 percent in the same period. 

"The aging group expects to lead colorful and relaxed lives, and also to travel extensively after retirement," Hoogewerf said. 

Hoogewerf also noted that moving into senior living communities can not only address their needs, but also reduce pressures on their children who already face social burdens due to the one-child policy.

More in Global Times.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´request form.

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Next: luxury retirement homes - Rupert Hoogewerf

Rupert Hoogewerf

With the growth of high net worth individuals (HNWIs) in China, services for them expand. The need for luxury retirement homes is one of them, a survey supported by the Hurun China Rich List is one of them, tells Rupert Hoogewerf, Hurun founder, at the Global Times.

The Global Times:

The report, released jointly by Taikang Life Insurance Co, an insurance firm in China, and the Hurun Report, a business and luxury lifestyle media company, found the majority of HNWIs (individuals worth $1 million or more) are interested in high-end retirement communities with professional healthcare facilities. 

Among 1,119 Chinese HNWIs surveyed, 70 percent said they wanted to know more about high-end retirement communities, and they ranked professional healthcare as the most important feature of such establishments, the report found. 

With an increasing number of wealthy Chinese individuals and a growing concern among them over healthcare and life after retirement, there is a great opportunity for business, said Rupert Hoogewerf, chairman and chief researcher of the Hurun Report. 

According to the report, there were 1.21 million Chinese individuals with personal wealth of 10 million yuan ($1.567 million) or more as of May, which represented a year-on-year increase of 11 percent. 

The total assets of HNWIs in the Chinese mainland reached $9.5 trillion. 

The report said that there is growing concern among Chinese HNWIs over healthcare after retirement, which explains their high enthusiasm toward medium and high-end retirement communities with healthcare facilities, a natural environment and other lavish features.

 More at the Global Times.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers´ request form.

Are you looking for more experts at the China Speakers Bureau on how China´s rich spend their money? Check out this list.  

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