************************************************************
The following is issued on behalf of the Commission on Youth:
The Commission on Youth (CoY) held a Youth Exchange Session at Youth Square today (April 12). Member of the Commission on Poverty (CoP), Dr Law Chi-kwong, and the Secretary of the CoP, Ms Doris Ho, attended the session and exchanged views with young people on the topic of retirement protection.
Dr Law said that the universal pension proposals from stakeholders all propose a uniform level of pension. These proposals would not provide additional assistance to the poor elderly receiving Comprehensive Social Security Assistance. The additional benefits for the elderly receiving Old Age Living Allowance would also be limited. The elderly group which would benefit most, however, would comprise those currently receiving "fruit money" and those not receiving any kinds of social security. He added that while the universal pension proposals emphasised equal treatment, they would not be able to provide sufficient and reasonable income protection for the elderly with financial needs. The question of whether such design is truly equitable is an issue that society has to think over.
Ms Ho said that Hong Kong's retirement protection was composed of multiple pillars. The scope of discussion should thus cover how to improve the functions of different pillars, taking into account in particular the complementary functions among the pillars to provide comprehensive protection for the elderly based on shared responsibility. The two simulated options presented in the consultation document were not concrete policy proposals from the Government. They served as a platform to compare the two principles of "regardless of rich or poor" and "those with financial needs". Additionally, she said that the sustainability of the system would be especially important in face of the rapidly ageing population trend. If considerable public resources are spent on a universal pension scheme, it would undermine the Government's ability in responding to elderly persons' demand for public housing, medical services, residential care homes, and community care services.
In the concluding remarks, the two guest speakers said they were pleased that young people had been pro-active in making known their views. The future development of retirement protection was closely relevant to young people. Their views would be helpful for the Government to formulate appropriate retirement protection policy.
The Chairman of the CoY, Mr Lau Ming-wai, said the CoY will continue to organise exchange sessions to provide young people with opportunities to exchange views with representatives from the Government or advisory bodies or speakers from various sectors of the community on topics of concern.
Ends/Tuesday, April 12, 2016
Issued at HKT 21:15
NNNN
