Henry Tang admits Community Care Fund donations fall short of HK$5 billion goal

The Legislative Council’s Finance Committee today vets the application to inject HK$5 billion into the Community Care Fund. Chief Secretary Henry Tang, who chairs the fund’s steering committee, wrote in the press admitting that donations raised are still some way from the HK$5 billion target — but urged lawmakers to vote for the funding.

What is the fund for?

Plugging gaps in the existing safety net and piloting new ideas. Tang said the fund supplements the current social security system with a flexible, pilot role, helping the government fold workable measures into regular programmes. Some planned projects would ease cost pressures on “N-nothing” households, while subsidies for study tours by underprivileged students would help break intergenerational poverty.

To follow the retirement protection debate, visit MPF fund comparison.