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Following is a question by the Hon James Tien and a written reply by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, in the Legislative Council today (February 11):
Question:
The Chief Executive (CE) has stated in the 2015 Policy Address that the Government agrees that protection for needy citizens after retirement should be improved and he has asked the Financial Secretary to earmark $50 billion for this purpose. In this connection, will the Government inform this Council:
(1) given that retirement protection concerns people from various strata of society, why the authorities have entrusted the Commission on Poverty with the responsibility of devising a framework and setting out the details for a public consultation on retirement protection;
(2) how the Government came to the decision that the fund earmarked for retirement protection be set at a level of $50 billion, and whether it will further shoulder the expenditure to be incurred by any new retirement protection scheme;
(3) whether it has plans to require employers and/or employees to shoulder the expenditure to be incurred by any new retirement protection scheme; if it has such plans, whether it has prudently considered the affordability for small and medium enterprises;
(4) as CE has stated in the Policy Address that in exploring the issue of retirement protection, the Government must fully consider the sustainability, affordability and robustness of various policy options and focus social resources on helping those most in need, whether the authorities have made such a statement on the basis of the assessment outcome that the recommendations set out in the Research Report on Future Development of Retirement Protection in Hong Kong are not feasible; if they have not, of the reasons for that; and
(5) as CE has reportedly indicated that it is his wish that a decision on the issue of retirement protection can be made within the tenure of the current-term government, and given the controversies in society surrounding this issue which have lasted for years, of the measures the authorities have put in place to ensure that the current-term government can make a decision on this issue in the remaining two years or so of its tenure?
Reply :
President,
My consolidated reply to the Hon James Tien's question is set out below.
In 2013, the Commission on Poverty (CoP) commissioned the consultancy team from The University of Hong Kong led by Professor Nelson Chow to conduct a study on the future development of retirement protection in Hong Kong. The relevant report was submitted to the CoP on August 20, 2014 and was released in full on the same day. Since the abovementioned study conducted by the consultancy team led by Professor Nelson Chow was commissioned by the CoP, it is logical for the related issues be followed up by the CoP.
Retirement protection is a very important social issue. There have been divergent views in the community. As stated by the Chief Executive in the 2015 Policy Address published on January 14, in the coming few months, the CoP will devise a framework and set out the details for a public consultation on retirement protection in the latter half of this year. Further, at the CoP meeting held on February 3, members agreed to set up a working group under the CoP to take the preparation work forward. The Government looks forward to rational and pragmatic discussions with a view to arriving at a community consensus.
The Government agrees that protection for needy citizens after retirement should be improved. To demonstrate our determination and commitment, the Government has earmarked $50 billion to provide for future needs.
Ends/Wednesday, February 11, 2015
Issued at HKT 11:31
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