New civil servants in Hong Kong to work until 65 under new proposals
Proposal means government employees will be able to work until they are 65, angering current staff who will have to stop when they hit 60
A proposal to extend the retirement age of newly hired civil servants will be submitted to the Executive Council soon so it can be introduced next year, government sources say.
But the plan has drawn criticism from existing civil servants, who want their retirement age extended as well to save more into their pension.
Under the Civil Service Bureau's proposal, new recruits for the civilian grades will have their retirement age extended by five years to 65. The government had not yet decided whether new recruits in the disciplined services should have the age extended from 55 to 57 or 60, a source said.
The proposal was drawn up to tackle an ageing population and shrinking workforce.
The government is Hong Kong's biggest employer, with more than 160,000 on its payroll.
About 4,200 civil servants have retired each year over the past five years. The bureau has forecast this will rise to 6,000 a year until 2018, then hit 7,000 a year until 2023. It will then slow to 5,400 a year up to 2028.