Hong Kong government likely to opt for means-tested pension scheme
Sources say administration likely to add further tier to existing schemes; various groups are expected to be angry about the move
Another means-tested scheme to hand out cash to eligible elderly residents would be the likely outcome of a six-month public consultation exercise on retirement protection, instead of a comprehensive universal plan backed by various groups, sources close to the government revealed.
The Post has learned that the government is considering adding another “tier” to current schemes as the answer to calls for better retirement protection for elderly Hongkongers.
Sources said the government would possibly set an individual asset limit of between HK$80,000 and HK$140,000 for the new scheme, which will give eligible elderly people HK$3,230 a month.
The administration’s preference for a non-inclusive, means-tested proposal will come as a disappointment, especially for many of the city’s one million elderly people.
“I don’t quite understand why for a few hundred dollars, the government makes us [old people] jump through hoops,” said Wong Siu-ying, 87, who spoke to the Post during her 17-hour shift as a cleaner.