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How Hong Kong can make its ageing society an ‘age-friendly society’ that benefits everyone
Paul Yip and Asghar Zaidi say that with Hong Kong’s 65 and older population set to double over the next 25 years, investments in health care, education, job training, fair wages and an efficient retirement system are necessary to care for the elderly while benefiting the young
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An age-friendly society is one where everyone can participate in community activities regardless of how old they are. It is a society that also makes it easier for the elderly to stay engaged. Therefore, Hong Kong should aim to build an age-friendly society that is by default a society for the aged.
Hong Kong has been ageing rapidly, as is the case in many Asian societies. Currently, more than 14 per cent of our population, equivalent to more than 1 million people, are aged 65 or above.
The government has spent considerable resources to cope with existing needs and enhance services for older adults. In fact, billions of dollars have been spent on social security payments, medical services and old-age allowances.
The popular HK$2 public transport subsidy scheme, for example, is estimated to cost the government another HK$1.2 billion this year. Institutional care support for older adults, meanwhile, is insufficient. What is available is mostly expensive.
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