Gridlock stifles Hong Kong pension reform

Hong Kong needs to take radical action to stave off an alarming ageing problem, but is hobbled by an impotent political structure says HKRSA.

Hong Kong's ineffective government seems unable to deal with the looming financial crisis caused by a rapidly ageing population that was the gloomy message from a recent seminar on retirement protection sponsored by the Hong Kong Retirement Schemes Association HKRSA.

The HKRSA is leading the effort to keep retirement issues on the government's agenda, by educating industry and human resource officials, and bringing them together with government officials.

Its chairman, Stuart Leckie, speaking in a personal capacity, has called for the introduction of an old age pension for all workers. It should be considered a right, he says. He notes that Hong Kong has ignored establishing the World Bank-recommended three...

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