Tackling Long-Term Budget Deficits in an Aging Society
Keyword(s):
Old Age
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The aging of Hong Kong’s population is a rapidly approaching, multifaceted challenge that will be around for many decades to come. Unfortunately, the public sees this problem solely as one of poverty and social security. The social welfare lobby has successfully branded aging as a poverty issue that requires welfare support. Politicians and their allied social advocates and lobbyists often use old age poverty as the raison d’être to support the introduction of a universal old age social pension, which confuses aging with poverty.