Civil Service Retirement Changes Likely This Year
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "http://newsstatic.rthk.hk/audios/mfile_1382614_1_20180226181522.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'http://news.rthk.hk/rthk/en/component/k2/1382614-20180226.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','http://news.rthk.hk/rthk/en/component/k2/1382614-20180226.htm', 'DCS.dcsqry', '' ); } } }); }); });
2018-02-26 HKT 13:50
The Secretary for Civil Service Joshua Law said on Monday that unions have welcomed a plan to allow more than 50,000 government workers to put off their retirement for five years, and said the rule changes could come into force by the end of 2018.
Staff are currently being consulted on the proposal, which affects those who joined the Civil Service between June 2000 and the end of May 2015.
Workers on civilian grades could choose to stay on until they are 65, while the limit would be 60 for those in the disciplined services. Staff who have joined government departments since June 2015 are already expected to work until they reach these ages.
Law told legislators on Legco's Panel on Public Service that he doesn't think the proposed changes would affect the promotion prospects of other staff.
"We expect these civil servants to retire in 15 to 20 years' time, so there will be a relative long time for bureaus and departments to plan, in a systematic manner, matters such as promotion and succession," Law said.
The Civil Service secretary said government staff who choose to work longer will be entitled to the same benefits they currently enjoy. But they would switch to a less attractive provident fund scheme – the one that applies to those recruited since June 2015.
Staff will be given a year to decide whether they would like to extend their retirement and once the decision is made, it cannot be changed.
Democratic Party lawmaker Lam Cheuk-ting welcomed the plan, saying it could help tackle an ageing workforce. He pointed out that many people are physically fit to work beyond 60.
The government is collecting views from civil servants on the suggested changes until April 13.
AI, Fintech, And Sustainability Take Center Stage At Asian Financial Forum 2025
Hong Kong is set to host the 18th Asian Financial Forum (AFF) on 13 and 14 January 2025, marking the region’s first m... Read more
Metal Cards: Transforming Asia Pacifics Payments Landscape, And Redefining Customer Acquisition And Retention
While European, American and Chinese markets have largely found their digital banking champions in Revolut, Chime, and ... Read more
HKEX Launches Fund Repository To Enhance Transparency
Hong Kong Exchanges and Clearing Limited (HKEX) announced on 13 December 2024 the launch of a Fund Repository on its In... Read more
WeLab Bank Disburses HK$61 Million In Subsidies For Hong Kong Students
WeLab Bank has facilitated the disbursement of HK$61.56 million in subsidies through the H.S. Chau Foundation’s “De... Read more
Hong Kong Unveils Roadmap For ESG Reporting And Green Finance Leadership
The Hong Kong government launched its sustainability disclosure roadmap on 10 December 2024, marking a signi... Read more
Will Hong Kongs Crypto Regulations Shape The Future Of Web 3.0?
Hong Kong Web 3.0 is emerging as a global powerhouse. With its strategic efforts to regulate stablecoins, pilot the e-H... Read more