> Mr. and Mrs. Chan are both 35 years old now. They want to retire at 60. Current annual income and annual expenses are HK$1,000,000 and HK$800,000 respectively. > Lump-sum pension at retirement is estimated to be HK$1,200,000. Assume their annual expenses (at present value term) after they retired will be 60% of their current level. Current resources available : HK$500,000. Assume the average inflation rate and after-tax investment return will be 3% and 7% per year. Estimated life expectancy:90 years old. How much additional fund, if applicable, they have to invest per year until they retire ? 43