HKCGI Survey: Retirement Age At 65+ [Yahoo! Finance]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance
Sustainability Governance Issue: Retirement Age & A Managed Process ', drawing insights from approximately 1,300 respondents. The Hong Kong Census and Statistics Department forecasts a significant increase of around 90% in Hong Kong's senior population from 1.45 million to 2.74 million by 2047. The world's population is likewise ageing as people live longer and healthier. Based on respondents' views, the report advocates for 65 and beyond (or 65+) as the preferred retirement age for Hong Kong organisations. That is, organisations could set a retirement age of 65 in line with the civil service and, depending on organisational needs, adopt a managed process for open and transparent discussions around one year before retirement for post-retirement full- or part-time extensions on mutually agreeable terms. Organisations will not take on additional risks as they can replace underperformers. Key Findings and Recommendations Retirement is a Sustainable Governance Issue. Under the Unite
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