Preparing for Ageing in the Asia Pacific: Hong Kong as an Example

Abstract

Abstract Many developed and developing countries are now faced with an increasing pressure to meet the challenge of an increasing ageing population. Among the many aspects of the challenge, the provision of financial security in the form of a basic pension or a social security at subsistence, as well as finding adequate caregivers, are of more concern to countries in the Asia Pacific region. Depending on the governance philosophy and economic situations of each country, two streams, namely the social insurance and the multi-pillars models or their hybrids, have been adopted. No matter which pension scheme is adopted, the cost burden on governments to satisfy the demands made for caring the elderly population which is increasing both in number and in frailty, is becoming non-sustainable. One of the alternatives to alleviate the burden is to enhance people's own ability to care for themselves and for their neighbours, at free or low charges. Thus, how to prepare for ageing is a big issue for the governments...