The Poverty Commission discussed retirement protection policy proposals at its meeting today.
The commission was briefed by Chief Secretary Matthew Cheung on the poverty alleviation and retirement protection initiatives put forward in the 2017 Policy Address, including plans to invite the Community Care Fund to consider launching six new assistance programmes, strengthen support for disadvantaged groups, support ageing in place, inject extra funding into the Community Investment & Inclusion Fund to boost community involvement.
Commission members discussed the policy initiatives and expressed views on the proposal to progressively abolish the Mandatory Provident Fund offsetting mechanism.
Mr Cheung emphasised the retirement protection policy proposals aim to provide comprehensive protection for the elderly, adding the Government will implement the plan to optimise the Old Age Living Allowance scheme as soon as possible after securing Legislative Council’s funding approval.
On the plan to progressively abolish the MPF offsetting arrangement, the Government will listen to the views of the business sector, trade unions and other stakeholders, and aims to submit a final proposal to the Executive Council by the end of June, he added.
