Country fact sheet

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Hong Kong

  • Basic country data

  • Population over 60 in 2010:
  • 1,297,521 (18%)
  • Projected population over 60 in 2050:
  • 4,585,837 (47%)
  • Income of country:
  • High income: non-OECD
  • Social pension?
  • Yes

  • Scheme information

  • Scheme information: Normal/higher old age allowance
  • Monthly pension benefit:
  • 1090 HK$ (140 US$)
  • 4.66 % of average income
  • 518 % of international poverty line
  • Age of eligiblity:
  • 65 (normal OAA), 70 (Higher OAA)
  • Targeting:
  • Means-tested
  • % of population over 60 covered:
  • 41%

Old Age Living Allowance announced

In early 2013 a Government Press Release announced that the Old Age Living Allowance (OALA) would be implemented from April, replacing the Old Age Allowance (OAA).

With a benefit level of HK$2,200 (US$284) a month the OALA will provide a higher benefit than the OAA, which has been nicknamed 'fruit money' due to its low transfer level.

However, the OALA has faced delays due to the unpopularity of its means-test, which has been criticised for being too stringent. The current OAA uses a means-test those aged 65 to 69 and is universal for those aged 70 and over.

This video, from Hong Kong's Information Services Department, provides more information on the OALA. In particular, it describes the means-test and explains the three phases of implementation. 

Resources on the pension in Hong Kong


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Pension calculator

Calculate the cost of a universal social pension in Hong Kong.

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Notes