Senior allowance limits necessary: CE
October 17, 2012
Chief Executive CY Leung said the Government will not scrap a requirement for income and asset limits for a newly announced old age living allowance.
Speaking to the Legislative Council today, Mr Leung said the $2,200-a-month allowance is not a one-off allowance, but a sustainable poverty alleviation measure for seniors in genuine need.
He noted that some lawmakers opposed the limits requirement, but reiterated that removing limits would be irresponsible and financially unsustainable.
He also stressed the old age living allowance would not be the first step towards universal retirement protection. The community has yet to reach a consensus on whether a universal retirement protection scheme should be implemented, he said.
Mr Leung hopes the council could approve the allowances as soon as possible to benefit needy seniors.
Although Hong Kong is a prosperous city, poverty is still a problem here, he said, adding the government has the responsibility to tackle it.
A poverty line, which is accepted by the community, will be defined to help the administration get a better handle on the situation, and set up effective policies. The implementation of the statutory minimum wage has helped improve the incomes for low-wage earners, he added.
