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Universal Retirement Protection is far from a perfect solution

出自香港新聞網 - 樹仁新傳系學生實習習作

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You spell your name wrong in your byline. I guess it should be "Hang" instead of "Hnag". The lead of your story resembles almost the same as your second paragraph which is not a good way to write a news report. It is not the matter of size that Lu thinks HK shouldn't tamper with the idea of universal retirement scheme but it is the HK's low tax rate and narrow taxation base that would create future financial burden on the city.)


By SIU, Hang Nam, 2012-03-12- Universal retirement protection system alone is not enough to provide citizens secure protection, and it may bring the government a heavy financial burden, said Lu Tak Ming, the Chief Executive Officer of Yan Oi Tong.


Lu said in a talk that an universal retirement protection system is not the best way to secure the social protection of senior citizens. He said it can bring the government very heavy financial burden and potential risks.


‘It is not from the view as a government officer.’ Said Lu. Lu is a has worked as a social worker for 32 years, previously Principal Social Worker in the Social Welfare Department.


Lu said that many of the European countries are having sound and advance social protection system, such as universal retirement protection. He said countries like Greece and Spain, in which the universal retirement protection system was sound and advance, ran into financial difficulties partly because of the social welfare system brought the government a heavy burden.


‘Even an European country cannot withstand the burden of an universal retirement protection system, how could such a small city like Hong Kong?’ said Lu.
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