A survey by HSBC Holdings PLC shows that 65 percent of Asian retirees still provide regular financial support to their families or friends, higher than the global average of 60 percent.
The survey says that more than 20 percent of Asian retirees offer regular financial support to their children, with 15 percent supporting their grandchildren.
“More polled Asian retirees said they have transferred some of their capital to descendants ahead of their official inheritance,” HSBC said in a report yesterday.
Although this kind of tendency mainly resulted from strong -family-oriented concepts in Asia, it increases pressure on retirees, especially for those in an aging society like Taiwan, the British bank said.
Retirees in Taiwan spend NT$25,000 a month on average, which is lower than in other major global economies, JPMorgan Asset Management Taiwan (摩根資產管理) said.
JPMorgan said most Taiwanese retirees hold a conservative investment attitude, as they generally prefer time deposits as their favorite financial management tool.
Eyeing the rising population of elderly people in Taiwan, -Prudential Life Insurance Co of Taiwan (保德信人壽), the local unit of US-based Prudential Financial Inc, has launched an investment-oriented insurance product for people in their 40s and older, the first time a life insurer has launched this kind of product in Taiwan.
By relying on minimum distribution guarantees at between 3 percent and 5.5 percent annually, Prudential Life said that policyholders can enjoy a promising retirement until the day they die.
The company said that more than 33 percent of Taiwanese, or 7.7 million people, are between 45 and 70 years old.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
MAJOR CONTRIBUTOR: Revenue from AI servers made up more than 50 percent of Wistron’s total server revenue in the second quarter, the company said Wistron Corp (緯創) on Tuesday reported a 135.6 percent year-on-year surge in revenue for last month, driven by strong demand for artificial intelligence (AI) servers, with the momentum expected to extend into the third quarter. Revenue last month reached NT$209.18 billion (US$7.2 billion), a record high for June, bringing second-quarter revenue to NT$551.29 billion, a 129.47 percent annual increase, the company said. Revenue in the first half of the year totaled NT$897.77 billion, up 87.36 percent from a year earlier and also a record high for the period, it said. The company remains cautiously optimistic about AI server shipments in the third quarter,
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
RSS