Holistic policies Wong Kwok, a lawmaker representing the city's largest labor union, the Hong Kong Federation of Trade Unions, says that the lack of proactive policies aimed at encouraging the elderly to work beyond the age of 65, and the shortfall in MPF retirement packages, discourage elderly participation in the workforce. Wong urges the government to take a proactive approach …
Elderly-work incentives From Q3 of this year, the city will introduce a three-year program offering HK$10,000 to those aged 40-plus who have been unemployed for over three months if they are able to find work for six months. Earnings under this pilot program will not be factored into the means test for the monthly subsidy of HK$4,195 under the Old …
Experts forecast that 30 percent of Hong Kong’s population will be retirees of 65 years and older by 2036. Given today’s high life expectancy, many of them will live into their 80s, and may face two decades or more of financial hardship. Government expenditure on elderly welfare subsidies tripled from HK$18.3 billion in 2012-13 to HK$51.2 billion in the 2022-23 …
