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Transcript of remarks by SLW on retirement protection

     Following is the transcript of remarks by the Secretary for Labour and Welfare, Mr Matthew Cheung Kin-chung, on retirement protection after attending a radio programme today (December 26):

Reporter: (On the $80,000 limit) Can you explain whether it's the Government's proposal or preference?

Secretary for Labour and Welfare: Let me stress once again that the $80,000 asset limit for "Those with Financial Needs" option is purely a notional idea, it's purely a simulated option. It does not represent the Government's proposal at all. It is meant to provide a basis for discussion. So, don't over focus on the $80,000 because if you look at the leaflet on the consultation document, in fact we asked simply the question whether the community wants a formula which is designed really to help the needy, in other words, those with economic needs, a targeted approach, versus one that covers everybody, i.e. everybody will have access to it. So, we are talking about a simulated option. We keep an open mind. At the end of the day, we will leave it to the community to advise the Government, depending on the feedback, on what level, if at all we are going to pursue this option, should be set.

(Please also refer to the Chinese portion of the transcript.)

Ends/Saturday, December 26, 2015
Issued at HKT 13:45


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