Perspectives of Workability of and the Adequacy of Financial Protection for Ageing Workers in Hong Kong

Activity: Conference/talk/lecture/symposium/speech/workshop, etcEvent organized by HKBU

Description

Hong Kong has undergone rapid population ageing over the past few decades, and this trend is expected to persist due to low fertility rates and extended life expectancy. This scenario has implications for Hong Kong’s labour markets and workforce. Many older people wished to work in old age to maintain a certain level of quality of life and an economically independent status.

Conducted between October 2019 and September 2021, we conducted individual, in-depth interviews with 77 persons, including employees, employers, union representatives and experts to understand their views on employment/re-employment of older employees, occupational hazards, considerations in staying and leaving the workforce, and the occupational challenges they have encountered.

For older workers, their common reasons for continuing to work were primarily financial needs, staying away from boredom, utilising their abilities and skills, and realising their self‑worth. Older workers generally perceived labour as the primary means to earn a living. A majority of older employees said that they did not want to add to their children’s burden in terms of supporting them financially. The interviewees pointed out that if a comprehensive retirement protection system existed, older workers would have the choice to retire or stay instead of being ‘forced’ to work for basic life expenses in old age. Interviewees also mentioned that a retirement protection benefit could help to better support the living of older adults

It is suggested that without adequate retirement protection for their financial needs, some older people need to bear the physical strain and may even encounter age discrimination when looking for post‑retirement jobs. Reforms should be undertaken for Hong Kong’s retirement protection system to enhance the financial well-being of older adults so that they can choose whether to continue working based on their health condition instead of working for a living in old age.

Number of attendees (for events)

30
Period24 Apr 202525 Apr 2025
Held atFaculty of Arts and Social Sciences
Degree of RecognitionInternational