2025长寿革命：迎接新现实研究报告 The longevity revolution Preparing for a new reality

October2025

Thelongevityrevolution:

Preparingforanewreality

fidelity

INTERNATIONAL

ThismaterialisforInstitutionalInvestorsandInvestmentProfessionalsonly,andshouldnotbedistributedtothegeneralpublicorberelieduponbyprivateinvestors.

Weknowthatretirement

readinessisaboutmore

thansaving.It’sabout

confidencethatmoney

willlast,thatpeoplecanstayactiveandconnected,andthattheycanlive

withpurpose.

-KeithMetters,

President,

FidelityInternational

Contents

Retirementinthelongevitysociety

5

Aboutourlongevityresearch

6

Section1Longevityreadiness:Mappingournewreality

8

Section2Thefourpillarsoflongevityreadiness

10

Financialstability:Thefoundationthatenableseverythingelse

10

Physicalhealth:Theenablerofindependence

19

Emotionalwellbeing:Theinnerresource

21

Socialconnectivity:Thelongevitymultiplier

22

Section3Seizingthelongevitydividend

26

Thecriticalsuccessfactors

27

3Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Foreword

Longevityisoneofthebestchallengessocietycanhave.Itgivesusmoretimetolearn,toconnect,tocontribute,andtoenjoylife.Butitalsoforcesustorethinkassumptionswe’veheldforgenerations.Thetraditionalmodelofeducation,work,thenretirementnolongerfitstherealityinfrontofus.Retirementisbeingredefinedasastageoflifethatcanstretchacrossthirtyyearsormore.Thatmakesplanning,preparation,andsupportmoreimportantthanever.

AtFidelityInternational,helpingourclientsprepareforthatfuturehasalwaysbeenattheheartofwhatwedo.

Since1969,we’vebeenbuildingbetterfinancialfuturesthroughlong-terminvesting,innovativeretirementsolutions,andtrustedpartnerships.Today,wemanagemorethan£74billioninworkplaceretirementassets,serving1.3

millionmembersacrossnearly1,000plansworldwide.

Weknowthatretirementreadinessisaboutmorethansaving.It’saboutconfidencethatmoneywilllast,thatpeoplecanstayactiveandconnected,andthattheycanlivewithpurpose.Whenfinancesfeelsecure,peoplearebetterequippedtothriveemotionally,socially,andphysically.

Ourresearchshowswhythismatters.Toomanypeopleareunderpreparedforlongerlifespans.Athirdhavedonenoretirementplanning.Fewerthanoneinthreehavethoughtabouthowtopayforcare.Thesegapsriskunderminingnotjustfinancialstability,butwellbeingineverysense.

FidelityInternationalisuniquelyplacedtohelpclosethosegaps.Withdecadesofglobalinvestmentand

retirementexpertise,andacommitmenttoinnovation,weworkwithindividuals,employers,andinstitutionstodeliversolutionsthatarepractical,flexible,andbuiltfora100-yearlife.Ouraimis

simple:togivepeopletheconfidencetomakethemostoftheirtime,howeverlongitmaybe.

Thisreportispartofthatmission.InpartnershipwiththeNationalInnovationCentreforAgeing,weaimtochallengeoldassumptionsandshinealightonwhata

longerlifecanmean.Myhopeisthatitinspirespeopletoplansooner,actwith

confidence,andembracelongevityasoneofsociety’sgreatestopportunities.AndatFidelityInternational,weareproudtohelpmakethatpossible.

KeithMetters

President,FidelityInternational

4Thelongevityrevolution:PreparingforanewrealityFidelityInternational

5Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Retirementinthelongevitysociety

Thereisaquietrevolutionhappening.Itisnotaboutclimatechange,marketcyclesorartificialintelligence.Itisabouttime-morespecifically,howmuchmoreofitwehave,andtheabilitytodowhatwewantwiththatextratime.

Forthefirsttimeinhumanhistory,olderpopulationsaregrowingatafasterpacethantheyoungestcohorts,usheringinanunprecedenteddemographicshiftworldwide.By2050,2.1billionpeople-nearly22%oftheglobalpopulation-willbeover60,including426millionover80.Incontrast,50yearsagojust8.38%ofthetotalpopulationwereover60.1

Tounderstandtheimplicationsofthisshiftsothatwecanbettersupportourclientstomakethemostofthelongevitydividend-theeconomicandsocialvaluecreatedbylonger,healthierlives,FidelityInternationalpartneredwiththeNationalInnovationCentreforAgeing(NICA),integratingaglobalsurveyof11.800individualsaged50andover.

Inthisreport,wewillfirstdiscusswhylongevitydemandsreframing.Second,weshareourresearchfindings,

organisedwithinthefourpillarsoflongevitypreparedness-financialstability,physicalhealth,emotionalwellbeing,andsocialconnectivity,focusingonthefinancialpillarduetoitscrucialroleinsupportingtheothers.Wealso

considerwaystoreducelongevityrisk.Third,wesuggesthowcollaborativeadjustmentsbygovernments,society,corporations-includingthefinancialsector-andindividualscanbringaboutatransitionfromanageingsocietytoalongevitysociety.

Ourfindingsshow:

Fourpillarsforalongerlife

Financialstability,physicalhealth,

emotionalwellbeing,andsocial

connectivityareallvitalelementsinlongevityreadiness.Andfinancialstabilityisthebedrockthatsupportstherest.

Thedecumulationchallenge

Theshiftfromthestabilityofregular

wagesinworkingyearstodrawing

downsavingsduringretirementisa

complexconceptforindividuals.About36%ofpre-retireesareunsureiftheirmoneywilllast,andonly23%have

mappedoutincomesources.

Thelongevityliteracygap

Aroundtwoinfivepeopleaged50+areunderpreparingforretirementby10yearsormorewhenmeasured

againsttheaveragelifeexpectancyintheirlocation.Thisshortfallleavesmanyatriskofrunningoutofmoneylaterinlife.

Work

redefined

Thetraditionalthree-stagemodelofeducation-work-retirementisfading.About70%ofpre-retireesaged50+expecttoworklonger,primarilytostaymentallyandphysicallyactive(38%)ratherthanasafinancial

necessity(26%).

Planningandtrustdeficit

Overathirdhavedonenoretirementplanning,andjust15%seekfinancialadvice.Nearlyhalfcitefinancial

worriesastheirtopretirementconcern,yetoptimismgrowsafterretirement

(68%vs56%pre-retirement).

Legacy

revolution

Intergenerationalwealthtransfer

patternsareshiftingaspeoplelive

longer.Abouthalfofthosewhoplan

topassontheirwealthareplanningtodosobeforetheydie,demandingnewapproachestofinancialplanning.

6Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Aboutourlongevityresearch

Opiniumsurveyed11,800individualsaged50+across13locations,including6,500pre-retireesand5,300retirees,onbehalfofFidelityInternationalconductedbetweenbetween11Augustand1September2025.

Age

Gender

46%

54%

MenWomen

2%

18%

43%

37%

50s60s70s80s

Workingstatus

55%

45%

Pre-retireesRetirees

Focusgroupsofbetween10and12retireesandpre-retireeswereconductedfromAugust12,2025toSeptember15,2025bytheNationalInnovationCentreforAgeinginGermany,SingaporeandtheUK.

HongKong

Netherlands

Switzerland

IPortraitofanewrealityIprofileswithinthereportreflectindividualswhoparticipatedinthefocusgroups.Respondents'averageannualincomevs.averageretirementsavings,bymarket

Australia

France

Germany

Japan

Singapore

Taiwan

China

Italy

Spain

UK

A$78.3kRMB390k€35.0k€40.4kHK$858k€32.1k5,050kyen€44.8kSGD$84.1k€31.0kCHF78.4kNT$1,102k£30.2k

€80.1k€68.3k

€76.2k

€64k

€97.7k

£155.3k

48,088kyen

NT$11,354kCHF435.4k

A$542.9k

SGD$491k

RMB4,410k

HK$8,782k

AverageannualincomeAverageretirementsavings

Source:FidelityInternational,NICA,Opinium,October2025.

Note:SizeofcirclesreflectrelativesizeofthelocalcurrencyamountswhenconvertedintoUSdollars.

7Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Imagininganewfuture

Neverhavefivegenerationsfoundthemselvessimultaneouslysittingaroundthesamedinnertable,

noddingalongtothesamesongs(playedbybandsofoctogenarianrockers)orstandinginlineatthe

samesupermarketcheckouts.Itmaynotbethenormjustyet,butwithlongerlives,it’safuturewecanallincreasinglyimagine.

Extendedlifespanisanemergingreality.Theorderlyprogressionfromeducationtocareertoretirement-astructurethatseemedaspermanentasitwasuniversal-ischangingitsshapebeforeoureyes.

Thesefactorssuggestwemustradicallyreviseretirement’smeaningsandimpacts.Theissueofalongevitysocietyisnotonlydemographic-it’saquestionofawareness,culture,preparationandadaptation.

Theorderlyprogressionfromeducationto

careertoretirement-astructurethatseemedas

permanentasitwasuniversal-ischangingits

shapebeforeoureyes.

Asindividuals,wearerethinkingwhatitmeanstoagemeaningfully.Andfororganisations,thispresentsa

pivotalopportunity-andresponsibility-tounderstand,andsupport,adecisiveshift:helpingpeoplebecome‘longevityrelevant’-relevantforthemselves,tothosetheylove,andtothesocietytheyareapartof.Ifwe

startedaskingourselves,“Whoandwhatwillourfutureselfbe?”,wewouldrealisethisismorethanarhetor-icalquestionaskedtoourinnerself;it’scentraltothesustainabilityoffuturepensionsystemstoo.

Theanswermayseemobvious:behealthyandautonomous,surroundedbymeaningfulconnections,andplayanactiveroleinsociety.Whowouldn’twantthisforthemselves?

Fidelity’sresearchhighlightsthefourkeypillarsthatunderpinthoseanswers:emotionalwellbeingand

socialconnectivityenabledthroughourphysicalhealthandsustainedbyfinancialstability.Whenfinances

aresecure,theotherpillarsareeasiertosustain.Whentheyarenot,theentirestructureisweakened.

Buildingthisarchitecture,whichsupportsandnourishesourfutureself,isa

journeyofcontinuousmicroandmacrotransitionsandadaptations.Balancingandunderstandingoureconomic,socialandphysicaldimensionsshouldbeaneverydayexercisethatwemustlearntoinfuseintoourlivesmuchearlier.

Withalongerfutureahead,wealsohavemoreoptions,butonlyifwestart

buildingthemtoday.Longevityrepresentsanunprecedentedopportunitycallingforinnovativedesign.Nowisthetimetodesignthoughtfully,actdeliberately,

andmakethisextratimecount.

NicPalmarini

Director,NationalInnovationCentreforAgeing

8Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Section1Longevityreadiness:Mappingournewreality

Wherepreviousgenerationsfollowedapredictablepathofeducation,work,andretirement,today’sdemographic,medicalandtechnologicalrealitiesdemandanewroadmap,one

thatfocusesnotonageingasaburdenbutonlongerlivesthatopenupnewpossibilitiesformeaningfulwork,socialconnectionsandpersonalprogression.

We’reexperiencingthemostdramatic

transformationindemographicseverrecorded.In

2018,forthefirsttime,thereweremorepeopleover60thanunder5.3Theglobalpopulationisgettingolder(seeChart1),withthemedianagerisingfromabout31yearsoldin2020to36yearsoldin2050.4Livingto100isbecomingmorecommon.

Interestinglybiologicalageisalsodivergingfrom

chronologicalage.Inotherwords,wearestaying

healthierforlongerbothphysicallyandmentally.Ac-cordingtotheInternationalMonetaryFund,a70-year-oldin2022hadthecognitiveabilityofa53-year-oldandthephysicalabilityofa56-year-oldfromtwo

decadesearlier.5

Chart1:Shareofindividualsaged65andabove(%oftotalpopulation)

Source:InternationalMonetaryFund,April2025.DataisbasedonUnitedNationsWorldPopulationProspectsandIMFcalculations.Note:thebarsdenotetheshareoftheolderpopula-tion(ages65andabove)inthetotalpopulationbytheendoftherespectivedecade.DatalabelsinthefigureuseInternationalOrganizationforStandardization(ISO)countrycodes.AEs=advancedeconomies;Adv.AsiaandPacific=advancedAsiaandPacific;EA=emergingAsia;EMMIEs=emergingmarketandmiddle-incomeeconomies;excl.=excluding;LAC=LatinAmericaandtheCaribbean;LIDCs=low-incomeanddevelopingcountries;MENA=MiddleEastandNorthAfrica;SSA=sub-SaharanAfrica.

However,wearenavigatingthisgiftofextratimewithoutacompassordirections.Howdowewanttouseit?Whatsupportdoweneedtogetthere?Whenshouldwebeginpreparing?

Intermsoflongevitypreparedness,ourresearchfindingshighlightatensionbetweenaspiration

andreality.Withpowerfulforcessuchasmedicalandtechnologicaladvancessignificantlyextendinghealthylifespans,peopleareoptimisticaboutthetimetheyhave.ButassystemicshockssuchastheCOVID-19pandemicintroducehigheruncertainty,theyareunclearhowtoplanforalongerlifespan,andimportantly,howtheywillpayforit.

Powerfulforcesdrivingthelongevityrevolution

Medicalandtechnologicaladvancements

Advancesinscience,medicine,andtechnology-increasinglypoweredbyAI-areshiftingthefocusfrommanagingage-relateddeclinetopreventingillnessandextendinghealthyyears,withbroadsocialandeconomicbenefits.

Changesinlifestyle

Asindividualsmakelifestylechangesthatallowthemtostayhealthyforlonger,retirementisnolongerafixedpointintime,butaflexibleandevolvinglifestage.

Systemicshocks

Eventssuchasthepandemicandsubsequentinflationarypressuresandlabourmarketdisruptionshighlighthowexternalfactorscanrapidlyalterretirement

plansandaspirations.

Multiplefinancialdemands

Supportingchildren,grandchildrenandolderrelatives,alongsidecareerbreaksforunpaidcare(especiallyforwomen),isputtingpressuresonfinancialsecurity.

Financialknowledgedivide

Asretirementbecomesmorecomplex,financialliteracywillbeessential.

Technology-includingartificialintelligence-canhelpbridgethatgapwiththerightguardrails,andaccesstotheappropriatedigitaltoolswillbekey.

10Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Section2Thefourpillarsoflongevityreadiness

Despitedramaticshiftsinlifeexpectancy,manypeoplestillapproachretirementwith

outdatedassumptions.Ourresearchrevealsapersistentdisconnectbetweenaspirationsforalongerlifeandpreparednesstosupportit.

Longevityreadinessdependsonfour

interconnectedpillars:financialstability,physicalhealth,emotionalwellbeing,andsocial

connectivity.Eachpillarisessential,andgapscanunderminetheothers.

Amongthemostpressingchallengestosupportthesepillarsarealackoffinancialplanning

andlimitedunderstandingoftheimplicationsoflongevity,leavingmanyfeelinguncertainand

unpreparedfortheirfuture.

Financialstability:Thefoundationthatenableseverythingelse

Financialstabilityisthebedrockoflongevityreadi-

ness.Itnotonlyenablesaccesstocare,greatersocialopportunities,butalsounderpinsemotionalwellbeingandpeaceofmind.

11Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Whenfinancesaresecure,

theotherpillars-health,

emotionalwellbeingand

socialconnectivity-

aremorestable.

Ourresearchshowsadirectlinkbetweenfinancialplanningandoverallpreparednessacrossallpillars(seeCharts2Aand2B).Furthermore,thecorrelationisconsistentwithinthecountriessurveyedaswell

asacrossnations,andwhencomparedtoother

financialmetricssuchastherelativeamountof

retirementsavings.Perhapsunsurprisingly,those

whohavesavedmoregenerallyfeltmorephysically,emotionallyandsociallypreparedforretirement.

Amongallpre-retireessurveyedin13marketswhohaddonesomeretirementplanning:

.83%feltphysicallyandemotionallyprepared

.79%feltsociallyprepared

.78%feltfinanciallyprepared

Forthoserespondentswhohadnotdoneanyplanning,thepreparednessfiguresdroppedsignificantly:

.Only65%feltphysicallyprepared

.68%feltemotionallyprepared

.65%feltsociallyprepared

.Just55%feltfinanciallyprepared

Chart2A:Retirementpreparednessamongpre-retirees,withplanvs.withoutplan

Question:Howwell-preparedforretirementdoyoufeel?

78%

55%

Financial

83%

68%

Emotional

79%

65%

Social

83%

65%

Physical

FeelingpreparedwithaplanFeelingpreparedwithoutaplan

12Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Chart2B:Retirementpreparednessamongretirees,withplanvs.withoutplan

Question:Howwell-preparedwereyouforretirement?

82%

66%

Financial

85%

74%

Emotional

82%

72%

Social

82%

71%

Physical

FeelingpreparedwithaplanFeelingpreparedwithoutaplan

Source:FidelityInternational,Opinium,October2025.‘Withplan’and‘withoutplan’referstoretirementplanning.Forthesurvey,thefollowingdefinitionsapply-financialstabilityreferstoincomeand

resiliencetomeetneeds(includingemergencycosts),managerisksandpreserveautonomy;physicalhealthpertainstostrength,mobilityandvitalitytoremainindependent;socialconnectivitymaintainsasenseofbelongingandsupportthroughrelationships,communityandothersharedactivities;andemotionalwellbeingsustainspurpose,identity,andpeaceofmind.

Financialplanningisaboutmaximisingtheoptionsavailabletoenableamoreconfident,connected,and

healthylife.Andwhilemostpeopleaged50+saytheyhavedonesomeformofretirementplanning,35%

ofallrespondentshavedonenone.Drillingdownamongpre-retireesandretirees,aquarterorlesshave

preparedabudget,createdaretirementplanoridentifiedpotentialincomestreamsinretirement(seeChart3).Furthermore,nearlyafifthofpre-retireeshaveeitherlosttrack,haveneverreviewedalltheirretirement

assetsorjustdon’tknowwhethertheyevenhaveretirementsavings.

Chart3:Retirementplanningactions,pre-retireesvs.retirees

Question:Whichofthefollowinghaveyoudoneaspartofyourretirementplanning?

Source:FidelityInternational,Opinium,October2025.

13Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Longevityliteracygap

Ourresearchalsoshowsthatmanyover50s

underestimatehowlong,andforwhat,theymay

needsavingsfor.Mostplanforaveragelife

expectancy,withoutunderstandingnuancedlongevityrisk.Retirementsavingsaretypicallyplannedfor

15to20years,whichwouldlastuntil80-85ifthey

retireat65,butmanymayneedanincomeformuchlonger.This’longevityliteracygap’couldleadto

underfundedretirementsandheightenedanxiety.

.Aroundtwoinfivepeopleaged50+are

underpreparingforretirementby10yearsor

morewhenmeasuredagainsttheaveragelifeexpectancyintheirlocation,accordingtonew

analysisfromNICA.Thisshortfallleavesmanyatriskofrunningoutofmoneylaterinlife.

.Formarriedcouples,thechancesthatat

leastonewilllivebeyondtheaveragelife

expectancyareevenhigherduetotheadded

potentialemotional,socialandfinancialsupportthatalsocanmanifestinbetterphysicalhealth.6

.Aslifeexpectancycontinuestorise,withthe

globalaveragelifeexpectancylikelytoincreaseby4.9yearsinmalesand4.2yearsinfemales

between2022and2050,7thegapbetweenretirementplanningandrealityiswidening.

AccordingtoPewResearchCenter,by2050,3.67millionpeoplegloballyareexpectedtoreach

100,aneightfoldincreasefromabout451,000in2015.Manyofuswilllivefarbeyondnationalaverages,makinglonger-termfinancialand

lifestyleplanningessential.

.Whenmeasuredagainstapotential100-

yearlifespan,aboutfourinfiveaged50+areunderpreparedby10yearsormore,NICA

researchshows.

.Conversely,somemayalsobeoverpreparing

financially.AccordingtoNICAanalysis,about4%oftherespondentsaged50+areplanningfor

retirementsbeyonda100-yearlifeby10years

ormore.

Savingsvs.lifespan

Onthesurface,people’sexpectationsfortheir

savingsandlifespanarefairlyaligned:pre-retireesexpecttheirretirementsavingstolastanaverageof19yearsandtoliveabout21yearsafter

retirementonaverage,withretireesreportingslightlyhigherfigures(seeChart4).

Chart4:Averagenumberofyearsexpectedinretirement,pre-retireesvs.retirees

Question:Howlongdoyouthinkyouwillliveforafterretirement?

Source:FidelityInternational,Opinium,October2025.Note:Value=averagenumberofyearsyouthinkyouwillliveforafterretirement

14Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Chart5:Averagenumberofyearssavingsexpectedtolast,pre-retireesvs.retirees

Question:Inretirementplans,howlongdid/doyouexpectyourretirementsavingstolast?

Source:FidelityInternational,Opinium,October2025.Note:Value=averagenumberofyearsretirementsavingsexpectedtolast

InAsia,respondentstendtogiveclearestimatesforbothsavingsandlifeexpectancy.Among

pre-retirees,only9%inSingapore,10%inTaiwan,11%inHongKong,and10%inChinasaidthey

didnotknowhowlongtheirmoneywouldlast.

Uncertaintyoverlifespanwassimilarlylow.

Bycontrast,inEurope,uncertaintyismuchhigher:amongpre-retirees,28%intheUK,33%inSpain,

48%intheNetherlandsand46%inFrancesaytheydonotknowhowlongtheirsavingswilllastand

aroundathirdofpre-retireesinthesemarketsalsodonotknowtheiraveragelifeexpectancy.Thesedifferencescouldreflecttheirrespectiveretirementsystems,withthoseinAsiamorelikelytoplace

greaterresponsibilitiesonindividualsandfamilies.

Thedecumulationdilemma

Duringtheiradultworkinglives,mostpeoplegrowaccustomedtothecomfortofregularwages.Butastheyapproachretirement,thisbeginstoshift.

Thechallengeisnotsimplyinstoppingworkbuttransitioningfrombuildingsavingstostrategicallydrawingthemdown.

Thisnewrealitymeanspeoplearehavingtomakefinancialdecisionsforaretirementthatcouldlast30+years,balancingtheriskofoutlivingtheir

savingsversustheriskofbeingunnecessarily

frugalandmissingoutonfulfillingtheiraspirationsforretirement.

Furthermore,governmentsandcompaniesare

increasinglyshiftingfinancialrisksrelatedto

retirementsavingstoindividuals.Forbusinesses,theevolutionfromdefinedbenefittodefined

contributionorhybridschemesmeansthat

individualsareshoulderingmoreofthe

responsibilitiestoensuretheyhaveanadequateincomestreamduringretirement.

Onaverage,respondentsexpectedanannualised

investmentreturnof4.9%.Intermsofinvestments,

nearlytwo-thirdsoftherespondentssaytheyare

investedincashorcashequivalents(seeCharts6

and7).Incomparison,athirdareinvestedinequitieswhileafifthhavesomeexposuretobonds.

15Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Chart6:Growthof$1000,byassetclass

Valueof£1,000invested

£6000

£5000

£4000

£3000

£2000

£1000

£0

200020052010201520202025

Yearending

Cash*StocksBonds

Chart7:Investmentexposure,byassetclass

Question:Which,ifany,ofthefollowingsavingsandinvestmentproductsdoyoucurrentlyhave?

Cash

64%

Stocks

33%

Bonds

20%

Pastperformanceisnotareliableindicatoroffuturereturns.

Source:Refinitiv,MSCIWorldIndex,FTSEWorldGovernmentBondIndexandICEBofAUSTreasuryBillIndex(G0BA),totalreturnsfrom31.12.99to31.12.24.*ICEBofAUSTreasuryBillIndex(G0BA)usedasaproxyforcash.

Source:FidelityInternational,Opinium,October2025.

Thesinglemostpowerfuldeterminantofretirementwealthistime-specifically,thetimethatsavingsarelefttocompound.Earlycontributions,evenmodest

ones,createafoundationthatgrowsexponentially,whiledelayedsavingsdemandeverhigherrates

ofreturntomeetaspecificgoal.Sothelonger

someonesavesandthehighertheamounttheysaveregularly-thegreatertheirrangeofoptionsareatretirement.

Thisisespeciallysalientatatimewhenpeopleworrymoreaboutwhethertheywillbeabletorelyonstatesupport.Thestagnationordeclineofpublicpensionbenefitshaveraisedout-of-pocketcostsinretirement,includinghealth-relatedexpenses.Globally,only28%ofpeoplefeelassuredthattheirgovernmentwill

provideadequatelyfortheminlaterlife.IntheUK,60%arenotconfident.InJapan,thefigurerisesto

65%.Chinaistheonlycountrywheredoubtisnotablylower,at11%.

Toreducelongevityrisk,

thereareessentiallyfour

options:spendless;save

more;increaseinvestment

returns;orworklonger.

Purposebeyondapaycheque

Workinglonger-evenpart-time-shortensthe

retirementhorizon,increasessavings,anddelayswithdrawals.Aslifespansstretch,thequestionofworkinglongeranddifferentlybecomesareality.

Peopleareincreasinglymovingbetweeneducation,workandretirementmultipletimesthroughouttheirlives.Formany,workinglongerisnotareluctant

extensionbutanopportunityforcontinuedgrowthandengagement(seeChart8).

16Thelongevityrevolution:PreparingforanewrealityFidelityInternational

Inoursurvey:

51%

70%

89%

exp