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Finding Consensus amidst Controversies - HKU stages the Big Debate on Retirement Protection

10 Nov 2014

 

Retirement protection has been a controversial issue for decades in Hong Kong and the prospect of a consensus seems remote. The Faculty of Social Sciences at the University of Hong Kong takes on a public policy analysis framework to pull divergent views together and engage stakeholders in a constructive dialogue to look for common grounds in finding a solution to reduce elderly poverty.

The “Public Policy Forum – Retirement Protection in Hong Kong: Rethinking an Age Old Controversy” held on November 10, 2014 (today) focused on problem definition as an approach to identifying common grounds and thus opportunities for consensus building.  A problem is a formulation of the essence of an undesirable phenomenon that provides an anchor point for possible policy actions.  In rethinking the problem, apart from the heavy weight speakers, included:

·        Professor Nelson W.S. Chow, Department of Social Work and Social Administration, HKU

·        Mr. Chua Hoi Wai, Chief Executive of The Hong Kong Council of Social Service

·        Professor Wong Hung, Department of Social Work, The Chinese University of Hong Kong

·        Professor Richard Y.C. Wong, Chair of Economics, School of Economics and Finance, HKU

·        Dr. David Y.K. Wong, Chairman of Business and Professionals Federation of Hong Kong

·        The Honorable Anna Wu Hung-yuk, Non-official Member of Executive Council and Chairman of Mandatory Provident Fund Schemes Authority

the Faculty also invited the Honourable Lam Woon Kwong, the Honorable Bernard Charnwut Chan, members of the Executive Council; Ms. Chan Yuen Han, Legislative Council member; and representatives of the six retirement protection options studied in the Government commissioned research report, done by Professor Nelson Chow to participate in the Forum.

Across the intellectual spectrum on the issue of retirement protection, the Faculty has identified common grounds in:

·        recognizing the undesirable phenomenon that many people lack adequate stable financial resources at old age; and

·        identifying constraints including ageing society, longevity risks, low trust in government, and that the current state of home ownership and elderly health care is also undesirable; there is an urgency in timing for action. 

There is a unison that the government must act sooner.  The experts shared some common thoughts about the diagnosis, in particular the consensus in the root causes of disparity between the haves and have-nots, social immobility, the undesirable MPF design and inadequate incentives in the policy making and administrative system.  There are, however, differences over relative focus in the diagnosis, and how the problems should be fixed.  The most prominent difference is on whether there should be a pay-as-you-go scheme that gives benefits to everyone.  Nonetheless, the differences may not be as uncompromising as they first appear if the Faculty unbundles the analysis into parameters and policy tools. 

Immediately after the Forum, the Faculty also held a closed door roundtable discussion with participants included legislators and representatives from the six retirement protection options studied in the Government commissioned research report, done by Professor Nelson Chow to further examine the following possible ways to build consensus:

·        to set boundaries of policy parameters (e.g. criteria of coverage, annuity or lump sum, funding options),

·        to explore policy windows, and

·        to obtain public acceptance in the light of varying interests and views of different sectors,

with the ultimate objectives of ameliorating the undesirability of the current state of retirement protection and improving the basic quality of livelihood at old age in Hong Kong.

The Faculty will submit a recommendation to the Commission on Poverty and the Chief Executive on identifying the common grounds and possible ways to build consensus across divergent interests and concerns to improve retirement protection in Hong Kong.

For further information about the conference, please visit: http://www.socsc.hku.hk/pp/retirement-protection-events/

For publications and related materials, please visit: http://www.socsc.hku.hk/pp/publications-and-related-materials/

For media enquiries, please contact:
Miss Vanessa Sit, Faculty of Social Sciences, HKU (Tel: 39171203 / 92678877; Email: vansit@hku.hk)
Ms. Melanie Wan, Communication and Public Affairs Office, HKU (Tel：28592600 Email: melwkwann@hku.hk)