The public annuity scheme is a measure aimed at preparing for Hong Kong’s ageing population. Photo: Fung Chang
Hong Kong’s retirement annuity scheme refined after 40 per cent of initial subscriptions failed
- The annuity scheme was announced earlier this year as part of an effort by the government to prepare for an ageing population
- The plan was criticised by many for generating a low return, locking up liquidity and having a cap that limited the monthly income received
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Hong Kong's state-funded pension scheme
The public annuity scheme is a measure aimed at preparing for Hong Kong’s ageing population. Photo: Fung Chang