A Study on the Preferences and Feasibility of Optional Retirement in Hong Kong: A Human Resources Management Perspective: 從人力資源管理看香港推行彈性退休偏好及可行性研究

Asia-Pacific Institute of Ageing Studies, Lingnan University

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The population in Hong Kong is ageing at an unprecedented speed, with a projection in 2041 that the population of 65-years-old or over will increase to over two million, along with workforce graying, bringing about the diminishing of workforce and thus increasing the dependency ratio, which may severely dissolve the city’s productivity as well as economically and socially impact the city.

Many organizations have set the retirement age for their employees at 60, which
wastes precious skills and manpower unnecessarily, however, previous studies have shown that Hong Kong employees have the willingness to wok beyond the current retirement age. In addition, there is insufficient pension generated during a working life that spans at least 40 years. With the ever-growing life expectancy, this leads to a tremendous arise in the economic cost of retirement; a retirement reform is undoubtedly necessary.

Optional Retirement is one of solutions which have been implemented to tackle
problems brought by the rigidity of mandatory retirement age worldwide. The reform is expected to provide a solution to retirees’ financial security, promote social participation in old age and simultaneously help to retain and pass on important skills and knowledge.

This study aims to examine the preferences and feasibility of optional retirement
implementation in Hong Kong from a human resources management perspective. Examples from other countries will be reviewed in order to summarize feasible and flexible options. Qualitative in-depth interviews and focus group interviews will be conducted with retirees, soon-to-be retired employees, and employers to investigate incentives and disincentives to retire and the preferences in retirement arrangement. A localized model of optional retirement will be constructed, in order to provide evidence and suggestions on the future retirement policy planning, in addition to organizational implementation.

香港人口老化正史無前例快速增長,預計 2041 年 65 歲或以上的人口數目將突破200 萬。隨之以來衍生的勞動力退化問題,不但降低整體勞動力及增加倚賴人口的數目,亦會嚴重削弱香港的勞動生產力,對經濟及社會帶來影響。

許多機構現時均設定退休年齡為 60 歲,惟有關措施將浪費資深員工珍貴的技能和影響人力資源的長遠發展。過往有研究指出,香港僱員樂意於超過退休年齡後繼續作。面對人均年齡持續增長,大概 40 年的就業期間所累積的養老金預期並不足夠應付日後退休的生活。這可能會導致一個巨大的退休的經濟成本,因此退休改革無疑是必要的。


Original languageEnglish
Publication statusPublished - 28 Feb 2015


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