'Govt Should Subsidise Firms Employing Elderly'

The chairman of the Elderly Commission, Dr Lam Ching-choi, said on Tuesday that the government should offer financial incentives or even subsidies for companies who hire the elderly.

Commenting on Chief Secretary Matthew Cheung's latest blog entry that said the government encouraged senior citizens and retirees to re-enter the labour market, Lam said steps should be taken to encourage this.

For example, he said, companies should get rid of unnecessary health checks for elderly staff, and should consider lowering the insurance fee for older workers.

He said that with the increased average life expectancy of people here, and with a more educated elderly population than in the past, it doesn't make sense not to let people aged above 60 continue working.

He stressed that the workforce situation is not at a crisis stage yet. "But if we do not get ourselves well prepared, I think we will face a very severe problem," Lam said. "Both in terms of decrease in productivity in Hong Kong, and also this will hinder the livelihood and well-being of our retirees."