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Should Hong Kong government and the lawmakers establish a pension fund,say 5 thousand dollars for age of 60?
It is pain in the ass for me and my Chinese hudsband and young Ashly to live in a public housing apartment in Hong Kong. Our plan is to retire in Phillipine where the living standard is much lower than Hong Kong. MY hudsband doesn't speak English or Phillipino language. I speak three different languages. My hudsband will probably get a culture shock when we both retire in my native country. THe Hong Kong public sector has squeezed a lot of Hong Kong dollars by land sales, property transactions and rental incomes, income taxes and business taxes, gambling and stamp taxes from the stock markets. All Hong Kong civil servants are overpaid and collect the fat cat pension. THe Hong Kong civil servant pension should have adjusted to have the upper limit. They should provide pension fund for the getting larger senior citizens community. Say, five thousands for those ages reached 60 and have resided Hong Kong for at least ten years. This will certainly become a public demand in Hong Kong now.
Public Comments
- It seems as though you aren't seeking an answer, but I would say that no government should establish any pension plan. People should be free to keep their money rather than hand it over to the government, then invest it as they see fit. After you pay taxes then account for corruption and government waste, the return on investment into a government pension would be horrible.
