On June 18, Schroders Global stated in an article that retirement plan members should consider increasing their retirement savings and actively managing their retirement savings accounts. Young people who have just entered the workforce should focus on accumulating wealth and be willing to take on higher risks in the early stages of their careers in order to balance investment risks with returns. Schroders Global pointed out that with advances in healthcare and medical technology, the average life expectancy in Hong Kong is expected to continue rising. By 2023, the average life expectancy for men in Hong Kong is projected to be 82.5 years, and for women, 87.9 years, ranking at the top globally. However, the potential issue is that we need to prepare for retirement expenses for up to 20 years or even longer. Around the world, the risk of outliving savings, known as longevity risk, has become very real. According to the 2024 Retirement Survey in Hong Kong by the organization, it is one of the top five retirement concerns for non-retired Hong Kongers. Those surveyed expect an average of only 15 years in retirement, but in reality, the average retirement age is 22 years, so without proper planning, they are more likely to deplete their retirement assets. Another retirement concern for Hong Kong residents in the post-pandemic era is higher-than-expected medical expenses. Despite healthcare expenditure per capita reaching HK$32,804 in the 2021/22 fiscal year, accounting for 8.5% of Hong Kong's Gross Domestic Product (GDP) and ranking among the highest in Asia, Hong Kongers still have to pay varying fees of HK$135 to over HK$2000 for public or private specialist consultations. The increasing population of elderly in Hong Kong and globally is causing a rise in medical expenses, which is a key factor to consider when planning for retirement. Schroders Global points out that there is an average gap of HK$2.4 million between the retirement funds needed by non-retired individuals and their post-retirement expenses, showing that Hong Kong people who have not yet retired may need to prepare better financially before retirement. Only half (53%) of the non-retired Hong Kongers surveyed expressed confidence in achieving their ideal financial reserves level at their expected retirement age (median age of 62 years). To bridge the gap, retirement plan members should consider increasing their retirement savings and actively managing their retirement savings accounts. Young people just entering the workforce should focus on accumulating wealth and be willing to take on higher risks in the early stages of their careers to balance investment risks and returns. As retirement plan members approach 55 years old (retirement age), they should consider adjusting their investment portfolios to focus more on stable returns and income. On the other hand, retirees should prioritize stable income and some growth returns to consider future living expenses, medical costs, and future inflation factors. A preset investment strategy can help non-retired individuals kickstart their retirement plans. As retirement plan or Hong Kong Trillions of MPF plan members approach retirement age, this investment strategy automatically reduces investment risk. However, retirement plan members should still anticipate their cash flow needs and expenses during retirement, as well as the future value of their assets, to design a customized retirement asset allocation plan and minimize the impact of longevity risk.