By South China Morning Post | Created at 2024-10-04 00:48:34 | Updated at 2024-10-04 03:22:14
2 hours ago
Hong Kong needs more incentives to keep older residents in the workforce to tackle growing poverty among the elderly, experts have said, pointing to the experiences of Singapore and Japan where grants and laws are in place to encourage employers to keep seniors working beyond retirement age.
They said policies to incentivise businesses to employ elderly staff and encourage older residents to continue working were crucial for an ageing society such as Hong Kong.
The calls were made after a report released by the local branch of an international charity on Wednesday put the spotlight on the city’s widening wealth inequality with a highlight on impoverished elderly.
“Hong Kong is facing worsening population ageing with a labour shortage and a low labour force participation rate,” labour sector lawmaker Chau Siu-chung said.
“We urge the government to step up support and encourage employment among the elderly to tackle the greying population and help lift older residents out of poverty.”
Oxfam Hong Kong revealed that more than 1.39 million people were living in poverty in the first quarter of this year, a rate of 20.2 per cent, up from 19.5 per cent last year and 18.3 per cent in 2019.
