Retirement protection highly controversial and complex issue

I refer to articles in the on the subject of a universal pension and would like to put into proper perspective the background and scope of the study on the "Future Development of Retirement Protection in Hong Kong" completed by Professor Nelson Chow Wing-sun and his consultancy team.

The study was initiated by the Commission on Poverty in March last year to follow up on the chief executive's pledge in his 2013 policy address to study measures to solve the problem of old-age poverty and improve the present social security and retirement protection system.

It is important to note that the remit of the consultancy team was to examine options of retirement protection that could address the needs of Hong Kong, not only universal retirement protection.

Indeed, different retirement protection options, including both non-means-tested universal proposals and means-tested models built on the existing social security system and targeting the needy, are covered in the 700-page report, which could provide a solid basis for informed public discussion on this important subject.

The study was conducted by Professor Chow and his consultancy team independently without any direction or influence from the government or commission.

It follows that the findings and recommendations in the study report do not represent the views of the government or the commission.