Donald Tsang’s policy-address consultation met with petitions for universal retirement protection

Chief Executive Donald Tsang held district consultation sessions for the upcoming policy address, the first at the Hong Kong Science Museum lecture hall in Tsim Sha Tsui. Tsang said the address would account for promises made since he took office — a report card for the public — and that he would listen on high property prices, inflation, ageing and retirement protection.

What did the petitioners demand?

Before the session, dozens from various groups petitioned outside, demanding more public housing and universal retirement protection. The Alliance for Universal Pensions criticised inadequate government protection: fruit money too low, CSSA eligibility too strict, MPF too risky for its returns — leaving many elderly unprotected — and demanded consultation on universal retirement protection.

Why is retirement protection in the spotlight?

With rapid ageing and MPF running for only a decade, accumulated balances cannot fund retirement, and the protection gap for grassroots elderly is stark. Whether the policy address answers the universal-pension calls is closely watched. Rather than waiting on policy, workers can act now: understand MPF’s role in retirement protection and review their MPF fund positioning.