Published in Hong Kong News on 10.12.2020
In the 1990s, as financial security in old age became an ever-greater problem due to the increasing number of older people, a falling birth rate and the disintegration of extended families into nuclear families, the British government planned a mandatory pension scheme from 1993.
This was finally introduced on December 1, 2000, and since then has been the only compulsory social insurance in Hong Kong.
In mid-2020 a total of HKD 1 trillion (approx. 107 billion euros) in assets was managed for Hong Kong citizens.