Quality Retirement (II): Insights from the Netherlands and Hong Kong
Hong Kong, like many international cities, faces the challenge of an ageing population. Enabling the elderly to live actively and optimistically and engage more in society has become a pressing concern. This episode features the lives of elderly in Hong Kong and the Netherlands, showcasing the differences and similarities in retirement systems and ageing policies in the two regions, exploring the post-retirement options and what contributes to "quality retirement".
In the Netherlands, when the elderly reach the statutory retirement age, they receive a state pension based on their years of residence and occupational pension accrued during work. Generally, retirees can live their golden years comfortably based on a stable pension system. In Hong Kong, the principle of elderly services is to facilitate “ageing in place as the core, with institutional care as back-up”. In addition to the Mandatory Provident Fund (MPF), Hong Kong offers various elderly welfare policies like the "Retire 3" initiative which includes the Annuity Plan, Reverse Mortgages, and Policy Reverse Mortgage Programme to ensure that the elderly can age gracefully. Mental well-being of the elderly is also a concern in both regions. What are the key factors for the elderly in both places to live a "positive and enjoyable old age"? How can they maintain a high quality retirement life.