Many Old Age Subsidy Recipients To Get Payment Boost
"); jQuery("#212 h3").html("
"); });
2021-10-06 HKT 14:45
Share this story
This year's policy address includes a boost for many recipients of the government's Old Age Living Allowance (OALA), with those currently missing out on a higher rate to get an extra HK$1,000 a month from the second half of next year.
Chief Executive Carrie Lam announced that the "normal" and "higher" OALA payments will be combined into one subsidy, with everybody assessed using the more lenient of the two existing sets of eligibility criteria.
The higher rate is currently HK$3,815 per month, with the lower rate at HK$2,845.
Lam first proposed the change to the subsidy at the start of last year, but the government subsequently said the move had to be assessed because of its "major financial implications".
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