EMPLOYEES and employers working for another 20 years can now look forward to a retirement pension with the passage of the Mandatory Provident Fund Bill late last month through the now-dissolved Legislative Council.
Yet the passage of this bill does not mark the end of society's or the Government's responsibility to ensure that the elderly are able to have a worry-free and comfortable retirement.
The passage of the Mandatory Provident Fund does nothing to resolve the financial problems of those who have already retired, or those who will be retiring from work shortly.
The Government still has to propose a solution to assist those elderly in need of financial assistance now. The easiest solution would be to increase Comprehensive Social Security Assistance to a level which would adequately meet the basic living needs of the elderly members of society.
A review is under way and may find its way into the Governor's policy address on October 11 this year.
In addition to providing adequate financial assistance, it is also necessary to ensure that the essential services on which so many of our elderly depend are adequate, particularly as the elderly proportion of our population is growing.
