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Don't over focus on asset limit

December 26, 2015

Secretary for Labour & Welfare Matthew Cheung has urged the public not to over focus on the asset limit outlined in the retirement protection consultation as it is purely a notional idea to serve as a basis for discussion.


Speaking to reporters after appearing on a radio programme today, Mr Cheung said the $80,000 asset limit for the "Those with Financial Needs" option is purely a simulated option and does not represent the Government’s proposal.


He said the consultation document is asking the community whether it should opt for a formula that targets the needy or one that covers everybody, adding the Government will keep an open mind during the consultation.


“At the end of the day, we will leave it to the community to advise the Government,” he said, adding limit level depends on the feedback received, if the option is pursued at all.

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