Poor response to Hong Kong government’s annuity scheme as senior citizens subscribe to less than 50pc of US$1.27b target

The response to the Hong Kong government’s HK$10 billion (US$1.27 billion) public annuity scheme has been pretty disappointing, with just 9,410 senior citizens intending to invest HK$4.94 billion, less than half the quota, according to the scheme’s operator HKMC Annuity.
“The HK$10 billion was the cap for the scheme and not the sales target,” Edmond Lau Ying-pan, chief executive of HKMC Annuity, said at a press conference to announce the subscriptions details of the…

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