Retirees spend average of MOP10,408 a month, study finds

Retirees in Macau spend an average of MOP10,408 a month, with dining out and takeaway meals representing their largest expense, according to a recent financial planning survey. The survey also found widespread regret over retirement planning among this demographic.

The findings come from the inaugural Macau edition of the Hong Kong-Macau Retirement Expense Index, launched by the Institute of Financial Planners of Hong Kong (IFPHK) in partnership with YF Life Trustees Ltd.

The index has tracked retirees’ living expenses in Hong Kong since 2020, but this year marks the first time the study has expanded to Macau, providing “a broader regional benchmark,” according to IFPHK and YF Life.

The 2026 study revealed that dining out and takeaway meals accounted for an average MOP2,817 a month, or about 27% of Macau retirees’ total spending. The second-largest category was food and nonalcoholic beverages at MOP1,504, followed by housing and fuel at MOP1,085.

“The launch of the Macau study marks an important extension of the Index and provides the city with its first benchmark on actual retirement living costs,” IFPHK CEO Dr. Paris Yeung said.

“The findings show that Macau retirees are managing retirement mainly through personal savings and family support, while also pointing to the importance of broader and more structured retirement income planning,” he remarked.

Savings remains central

Personal assets, principally savings, were the most common source of retirement funding, cited by 90% of respondents. On average, savings financed about 45% of monthly expenditure.

Family support was another significant source of income. Nearly half of respondents, or 49%, received assistance from relatives, which covered an average of 19% of their monthly spending. The study noted that Macau law requires adult children to provide maintenance for parents who do not have sufficient means.

IFPHK noted that awareness of Macau’s Non-Mandatory Central Provident Fund was “broad,” with only 1% of respondents saying they had never heard of the scheme.

About 31% of respondents were using it to meet monthly expenses.

Among retirees who had used the provident fund, 75% said they were satisfied with it overall. However, most had previously joined either the Joint Provident Fund Scheme or the Individual Provident Fund Scheme but were no longer contributing, indicating a gap between awareness and sustained participation.

IFPHK said the findings highlighted a need for more structured retirement-income planning.

The survey also highlighted concern over the timing and quality of retirement preparation.

93% of retired respondents said they had “at least one regret regarding their retirement preparation,” with 52% saying they would have saved or invested earlier if they had the opportunity to prepare again.

The most common regret, cited by 52%, was not starting to save or invest earlier. Another 24% said they wished they had communicated and planned more with a partner or family members.

About 63% of respondents had used advice from a human adviser, either independently or alongside artificial intelligence tools. Only 2% relied exclusively on AI or robo-advisers, while 9% said they did not need financial advice.

Awareness of the Certified Financial Planner designation reached 70%, suggesting that professional advice remains relatively familiar among the surveyed group.

“Looking ahead, we would encourage the Macau government to consider advancing the CPF toward a mandatory system in an orderly manner, calibrated to the pace of actual economic development, evolving public demand and the level of community acceptance,” the IFPHK CEO said.

“Such a transition could help broaden the retirement income base and provide more sustainable financial security for Macau’s ageing population in the years to come.”