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Annuity scheme welcomed by public

April 11, 2017

The launch of a life annuity scheme by the Mortgage Corporation has received satisfactory feedback from the community.


Chief Executive CY Leung made the statement to the media before today's Executive Council meeting, saying the Government attaches great importance to elderly well-being.


The corporation yesterday introduced the scheme that will provide participants with lifetime payouts after they pay a lump-sum premium capped at $1 million.


Mr Leung said the Government has conducted an initial public assessment on the plan and has received a satisfactory response.


He said the scheme will be extended if it receives a positive public response after its launch next year.


On rising property prices, he said the Government is monitoring the market, will continue increasing land supply and implementing measures to manage demand.

Elderly Health Care voucher Scheme