Retirement Income Protection in Hong Kong

Abstract

This paper gives background information on work, retirement, and labor force participation in Hong Kong. A brief development of social security is described followed by introducing the current retirement income protection programs in Hong Kong. The paper also discusses the financial disposition of current older adults and the soon-to-be old generation. These discussions raise the potential problems of the retirement income protection schemes. Finally, this paper provides recommendations for improving the existing schemes and proposes a study plan which tries to devise a sustainable financial support system for older adults in Hong Kong.