'Compromise Offer' Over Elderly Welfare Plan

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2019-01-17 HKT 22:20

Share this story

facebook

  • Hong Kong's ageing population is posing serious problems for planners and administrators. File photo: RTHK

    Hong Kong's ageing population is posing serious problems for planners and administrators. File photo: RTHK

Sources have told RTHK that the government has floated a compromise proposal amid strong opposition to its plan to raise the minimum age for elderly welfare payments - but critics say it's not what is needed.

The move came later on Thursday, after lawmakers from all sides united in urging the administration to withdraw its plan to raise the age requirement from 60 to 65.

It’s understood officials are now proposing an additional allowance of about $1,000 for 60- to 64-year-olds, if they have proof from social workers that they cannot find work. The sources said the additional allowance could make up for the shortfall in comprehensive social security assistance (CSSA) payments.

The compromise was offered after legislators voted overwhelmingly to pass a non-binding motion to shelve original plan. The motion, moved by social welfare sector legislator Shiu Ka-chun, was passed by 51 votes for, two against and four abstentions. The motion also called for the government to review the entire CSSA scheme.

Lawmakers from the pro-establishment camp are said to have reacted favourably to the government compromise after meeting the Chief Executive, Carrie Lam.

But pan-democrats said it's not a workable or fair solution. They said that creating another means-tested allowance would make the welfare system even more complicated, and failed to deal with the root problem. They were also angered that Lam only invited pro-government legislators to the meeting.

RECENT NEWS

SBI Holdings To Acquire Bitbank In US$289M Crypto Expansion

SBI Holdings has agreed to acquire Japanese crypto exchange Bitbank in a deal valued at approximately US$289 million, w... Read more

4 Ways Hong Kong Banks Fight Financial Crime Using AI, According To HKMA

The Hong Kong Monetary Authority (HKMA) wants banks to use AI in financial crime as a way to counter cyberattacks and s... Read more

Ripple Launches RLUSD Stablecoin In Japan Through SBI Group

Ripple has launched its US dollar-denominated stablecoin, Ripple USD, in the Japanese market. The expansion follows reg... Read more

SBI And Startale Launch Trust Bank-Backed Yen Stablecoin JPYSC In Japan

SBI Group has introduced its trust based stablecoin JPYSC in partnership with Singapore-based fintech company Startale ... Read more

Visa Study: Digital Wallets Lead Greater Bay Area Payment Preferences

Visa has released its latest Consumer Payment Attitudes Study, highlighting how payment seamlessness is linked to a shi... Read more

European And South Korean Banks Form Project Pangea For FX Settlement

Chainlink, South Korean infrastructure provider FairSquareLab, the Unified Korea Alliance (UniKA), and European stablec... Read more