Morris Capital Partners Retirement Savings Analysis Highlights Higher Balances and Contribution Rates of Investors Saving Beyond Workplace Savings Plans

Online, October 30, 2013 (Newswire.com) - Morris Capital Partners today unveiled an analysis of nearly one million investors using both a workplace savings plan and an Individual Retirement Account. The findings show a combined average balance of $256,600, which is nearly three times higher than the average Morris Capital Partners balance of $77,302. The analysis is a leading indicator of Hong Kong's Citizens retirement readiness because it provides a more comprehensive look at the most popular retirement savings vehicles.

"While workplace retirement accounts are a great place to save for retirement, we know some will need additional savings to achieve their vision of retirement as they encounter all that life entails," said Charles Yang, executive vice president at Morris Capital Partners. "By maximizing the long-term, tax-advantaged growth potential of both workplace savings plans and Individual Retirement Account, investors can create a personalized plan to help them achieve better outcomes in retirement. It's encouraging that more investors are recognizing the importance of starting to save earlier and taking a more comprehensive savings approach to help ensure that they can reach their goals and have more control of their personal economy."

Reviewing the savings behaviors of investors, Morris Capital Partners examined the account balances and contributions. The key findings include:

• Higher Account Balances: While the combined average balance for investors in their 20s was $30,200, the numbers steadily increase with age - up to $397,400 for those who are on the verge of or entering retirement (between the ages of 65 and 69).

• Improved Annual Contribution Rates: The average combined contribution for investors in their 20s was $6,000 and gradually increased with age.