************************************************************
The monthly rates of Old Age Allowance (OAA) under the Social Security Allowance (SSA) Scheme will be increased to $1,000 as from Thursday (January 1).
The Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, said today (December 29) that the Social Welfare Department would process OAA cases as speedily as practicable and ensure that all the estimated 480,000 eligible senior citizens would receive the increased allowance before the Lunar New Year.
"Following the increase to the monthly payment, the annual recurrent expenditure on OAA will rise by $1.765 billion," Mr Cheung said.
"In line with the established adjustment mechanism for social security schemes, the OAA rate will thereafter be adjusted on an annual basis in accordance with the movement of the Social Security Assistance Index of Prices," he said.
The increase was approved by the Finance Committee of the Legislative Council on December 12, following the announcement by the Chief Executive on October 24 that the monthly rates for Normal Old Age Allowance (NOAA) and Higher Old Age Allowance would be increased from $625 and $705 respectively to $1,000 across-the-board. The current means test criteria for NOAA will be maintained.
OAA recipients who have enquiries are advised to contact their respective social security field units or the Social Welfare Department's hotline at 2343 2255.
Ends/Monday, December 29, 2008
Issued at HKT 17:21
NNNN
