Hong Kong’s HKMCA Pushes Retirement Initiative, Offers Discounts

HKMC Annuity Limited (HKMCA), a wholly-owned subsidiary of The Hong Kong Mortgage Corporation Limited, has unveiled a new initiative aimed at addressing the challenges of Hong Kong’s ageing population. Dubbed the “Sustainable Retirement Lifestyle” campaign, the program seeks to promote multidimensional retirement planning, supported by a framework developed by the Research Centre for Gerontology and Family Studies (RCGFS) of the Hong Kong Polytechnic University. Alongside this, the HKMCA announced a limited-time 3% premium discount for its annuity policies, running from June 1 to September 30, 2026.

The campaign comes at a critical moment for Hong Kong, where the elderly population is growing rapidly. In 2025, 1.79 million people in Hong Kong were aged 65 or older, a figure expected to rise to 2.4 million by 2036, representing roughly one-third of the city’s population. With life expectancy among the highest globally—88.4 years for women and 82.8 for men as of 2024—retirement periods are extending, putting strain on public healthcare and pensions while increasing demand for private savings and annuity products.

To address these demographic pressures, the HKMCA’s new initiative emphasizes a holistic approach to retirement, incorporating financial security, health, social engagement, and personal value adaptation. Professor Bai Xue, Director of the RCGFS, underscored the importance of integrating financial stability with broader lifestyle planning, describing it as “the true key to unlocking a sustainable retirement.”

Daniel Leong, CEO of the HKMCA, highlighted the initiative’s academic foundation, noting that the multi-dimensional framework developed by the RCGFS ensures the program is both practical and evidence-based. The campaign aims to empower individuals with insights across six key dimensions: health, diet, housing, mobility, mindset, and finance.

In addition to promoting local retirement solutions, the HKMCA is exploring cross-border options, particularly in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). A recent survey commissioned by the HKMCA found that many Hongkongers are considering retiring in the GBA, prompting the organization to examine ancillary services like financial management and healthcare support for retirees in the region. Expanding the distribution network for its annuity plan is also a priority, with the HKMCA working closely with the insurance industry to develop Hong Kong’s annuity market further.

The premium discount offer, available to individuals who schedule a sales appointment by August 31 and apply for the HKMC Annuity Plan between June 1 and September 30, reflects the HKMCA’s aim to encourage participation in retirement planning. The plan itself has been recognized as a “Silver-Friendly Financial Product” by the Hong Kong Quality Assurance Agency, affirming its suitability for the elderly community.

As Hong Kong grapples with one of the fastest-ageing populations in the developed world, initiatives like this are becoming increasingly vital. Longer life expectancies and higher old-age dependency ratios (34 elderly per 100 working-age residents as of 2024) are intensifying the need for innovative retirement solutions. The HKMCA’s campaign not only addresses these challenges but also signals the growing role of private sector entities in complementing public welfare systems.

For those interested in the premium discount or seeking more information about the “Sustainable Retirement Lifestyle” initiative, details are available on the HKMCA website or via their customer service hotline.

Image source: Shutterstock