Retirement income protection in Hong Kong

Research output: Chapter in Book/Report/Conference proceedingChapter

4 Citations (Scopus)

Abstract

Introduction In the coming three decades, the demographic profile of the Hong Kong population will undergo a dramatic change. Due to the successful family planning programs, the total fertility rates were as high as 3.5 in the early 1970s, but fell substantially to below replacement level in the late 1970s, and have continued to decrease to about 1.0 in 2006 (Census and Statistics Department, 2007a). Past falls in fertility rates and increasing life expectancy will significantly raise the proportion of older people aged 60 and above from 1.1 million in 2006 (16.0 per cent of total population) to 2.7 million by 2036 (33.4 per cent of the total population; Census and Statistics Department, 2007b). This rapid increase in the number of older adults presents a serious challenge to policy-makers, especially with regard to financial security in old age. In this chapter, we shall examine the concept of the “three pillars of retirement protection” proposed by the World Bank for Hong Kong, how it would serve its purposes, and what can be done to sustain retirement protection in the coming three decades. Copyright © 2009 Tsung-his Fu and Rhidian Hughes for selection and editorial matter; individual contributors hsi their contribution.
Original languageEnglish
Title of host publicationAgeing in East Asia: Challenges and policies for the twenty-first century
EditorsTsung-hsi FU, Rhidian HUGHES
Place of PublicationNew York
PublisherRoutledge
Pages105-122
ISBN (Electronic)9781134051281, 9780203881828, 0203881826
ISBN (Print)9780415454650, 0415454654
DOIs
Publication statusPublished - 2009

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retirement
Hong Kong
fertility rate
income
census
statistics
life expectancy
old age
World Bank
family planning

Citation

Chou, K.-L. (2009). Retirement income protection in Hong Kong. In T.-H. Fu & R. Hughes (Eds.), Ageing in East Asia: Challenges and policies for the twenty-first century (pp. 105-122). New York: Routledge. Retrieved from https://www.taylorfrancis.com/books/e/9781134051281