New research reveals that almost two thirds of expats living in the Middle East hope to retire before they reach 60 but far fewer are confident of doing so.
The study by Zurich International Life (ZIL) shows that, despite an average of 60 percent of expats in the Middle East targeting an early retirement age, only 56 percent believe they will be able to achieve it.
Expats in Bahrain are the most optimistic with 71 percent confident of retiring at their target age, followed by Qatar with 49 percent and UAE – the most pessimistic- with 48 percent.
In a bid to redress the discrepancy expats across the region are taking matters in to their own hands with the research showing that an average of 35 percent of respondents have started their own pension plan.
The second phase of the Zurich Wealth Monitor – a study into the future plans of 700 expat professionals living in the UAE, Bahrain and Qatar – also shows that 56 percent of respondents are using their extra income to supplement their retirement fund.
Paul Haran, Zurich’s Middle East regional director saidd:
“Whilst it is not surprising to find a gap between the ideal and the realistic retirement age, it is encouraging to see so many expats taking steps to redress the imbalance.”
Follow us on
