Saving for retirement trend growing in UAE: Survey
Friday, 08 21 2015, Category: Insurance and Reinsurance, Country: U.A.E
The trend among UAE residents to save for retirement is growing, a survey by National Bonds Corporation shows.
The financial health check survey by the leading Shariah-compliant savings and investments company in the UAE shows that in the second quarter 42 per cent of the respondents saved for retirement, marking a six per cent increase compared to quarter-one results, while 31 per cent save regularly to buy a home, a three per cent increase over previous results.
According to the survey, 14 per cent saved for their children's education, 10 per cent lower than those in first quarter.
The survey also indicates that 13 per cent of the respondents save for basic needs.
Designed by financial advisers at National Bonds, the financial health check was launched in February 2015 to help customers assess their financial status and take corrective action towards achieving a more resilient financial future. To date, the survey has received responses from more than 1,000 customers across cultures and nationalities. The results for the first quarter of this year had revealed positive financial practices for most respondents, especially the youth.
Source: Yahoo News