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Mandatory Provident Fund (MPF)
Hong KongPolitics

Critics accuse Hong Kong government of already deciding to opt for a means-tested scheme rather than a full-blown universal pension

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Demonstrators rallied on New Year’s Day to call for the adoption of a universal retirement protection scheme in Hong Kong. Photo: Reuters
Jennifer Ngo

Officials were served heated discussion on a cold day at the first meet-the-public session on retirement protection yesterday.

Boos, protests and insults were flung around the Leighton Community Hall in Happy Valley during Chief Secretary Carrie Lam Cheng Yuet-ngor’s introduction and during the dialogue.

There were also protesters outside in the cold urging the government to consider a universal option, while others with loudspeakers countered it with pro-government chants.

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Launched a month ago, the six-month consultation seems to have widened the rift instead of bringing consensus.

On the table are two options: a truly universal scheme in which every elderly person receives HK$3,000 a month regardless of income or assets and a means-tested scheme where those with assets of less than HK$80,000 would get such a monthly allowance.

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The government’s explicit stand that it preferred the latter and had “reservations about the ‘regardless of rich or poor’ principle” of any universal retirement scheme has irked many.

Lam made her remarks on an RTHK programme examining the retirement protection scheme. Photo: Nora Tam
Lam made her remarks on an RTHK programme examining the retirement protection scheme. Photo: Nora Tam
“I’m so mad. It’s obvious that they won’t set up a universal scheme even if there is overwhelming public support for it,” said a Mr Leung, 52, who walked out yesterday in the middle of Lam’s speech.
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