Title

Protecting the ageing poor or strengthening the market economy : the case of the Hong Kong Mandatory Provident Fund

Document Type

Journal article

Source Publication

International Journal of Social Welfare

Publication Date

4-2003

Volume

12

Issue

2

First Page

123

Last Page

131

Publisher

Wiley-Blackwell Publishing Ltd.

Keywords

Mandatory Provident Fund, Minimal welfare regime, Undemocratic polity, Chinese familism, Division of social welfare

Abstract

The Mandatory Provident Fund (MPF) launched by the Hong Kong government seems to be a residual welfare state's strategy to cope with an ageing population and, at the same time, preserve a minimal welfare state and further enhance economic development. The MPF can only provide limited protection for a limited number of employees; many older people still have to depend on financial support from their families or have to work. On the other hand, the MPF immediately boosts the economy by creating more jobs for the financial services sector and by providing more business opportunities for banks and insurance companies. Thus, the MPF has consolidated the foundation of Hong Kong's capitalism by socialising and incorporating the whole working population in the market economy but has provided little protection for their old age.

DOI

10.1111/1468-2397.00250

Print ISSN

13696866

E-ISSN

14682397

Publisher Statement

Copyright © 2003 Wiley-Blackwell Publishing Ltd. Access to external full text or publisher's version may require subscription.

Full-text Version

Publisher’s Version

Language

English

Recommended Citation

Chan, C. K. (2003). Protecting the ageing poor or strengthening the market economy: The case of the Hong Kong Mandatory Provident Fund. International Journal of Social Welfare, 12(2), 123-131. doi: 10.1111/1468-2397.00250

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