What Changed
- Publication of the Report on Ageing Society Strategies containing 73 measures across 11 policy areas led by an inter-bureau working group.
- Enhancement of elderly financial tools and anti-scam measures including 'Money Safe', the Financial Intelligence Evaluation Sharing Tool, and planned 2027 AI anti-fraud schemes.
- Allocation of HK$100 million for the Gerontechnology Promotion Scheme and expansion of Greater Bay Area (GBA) product standards for elderly care.
On October 21, 2026, the Deputy Chief Secretary for Administration of the Hong Kong Special Administrative Region (HKSAR), Mr Cheuk Wing-hing, delivered the opening address at the Ageing Well Hong Kong 2026 Conference. Organised by the Actuarial Society of Hong Kong (ASHK), the conference brought together actuarial experts, financial regulators, and public policy leaders, including Mr Clement Lau, Executive Director (Policy and Legislation) of the Insurance Authority, and Mr Mark Saunders, President of the ASHK. The conference served as a platform to discuss policy, regulatory, and financial responses to Hong Kong SAR’s demographic shifts.
Hong Kong SAR currently maintains one of the highest life expectancies in the world. However, demographic projections indicate that by 2046, the population aged 65 and above will expand to 2.74 million, accounting for more than one-third of the region's total population. Rather than framing population ageing exclusively as a burden on healthcare, public finances, and labor supplies, the HKSAR Government is positioning this transition as an opportunity to build a structured silver economy while reinforcing long-term financial security for senior citizens.
To manage these structural changes across departments, the HKSAR Government established a centralized governance framework. Following an announcement in the 2024 Policy Address, the Government formed the Working Group on Promoting Silver Economy, which released 30 specific measures in May 2025 across five key domains: boosting silver consumption, developing silver industry, promoting quality assurance of silver products, enhancing silver financial and security arrangements, and unleashing silver productivity.
Building upon these foundations, Hong Kong's First Five-year Plan and the 2026 Policy Address established the Working Group on Ageing Society Strategies. Led by the Deputy Chief Secretary for Administration and comprising representatives from all 15 government policy bureaux, the inter-departmental working group published its Report on Ageing Society Strategies in September 2026. The report details 73 strategic measures across 11 areas, including healthcare, technology, economy, mobility, elderly care, finance, manpower, learning, social life, and age-friendly urban design.
A central pillar of the Government's policy involves managing longevity risk through structured retirement financial planning tools. At the core of these public sector offerings is the "HKMC Retire 3" package operated by the Hong Kong Mortgage Corporation Limited (HKMC) and its subsidiaries. This suite integrates three financial instruments: the HKMC Annuity Plan, the Reverse Mortgage Programme, and the Policy Reverse Mortgage Programme. Designed to convert assets held by seniors into steady cash flows, these products have benefited over 49,000 customers to date. The Government plans to explore further enhancements to the suite based on market conditions and public feedback.
In tandem, the Insurance Authority is encouraging private sector insurers to collaborate with medical and elderly care providers to develop savings-oriented insurance products tailored to senior citizens. Certain insurance offerings now incorporate policy features granting holders access to retirement facilities located in mainland China (specifically the Chinese Mainland), facilitating cross-border retirement options within the Greater Bay Area (GBA).
To increase public financial literacy, government entities—including the HKMC, HKMC Annuity Limited, the Investor and Financial Education Council, and the Mandatory Provident Fund (MPF) Schemes Authority—are expanding educational outreach. Information on retirement planning will be delivered directly to MPF scheme members turning 65 via the digital eMPF Platform, alongside community seminars and media campaigns targeting pre-retirees.
Financial security for senior citizens also encompasses asset protection against digital fraud. The HKSAR Government and police authorities are implementing multi-layered anti-scam measures in partnership with the financial and technology sectors:
1. Financial Intelligence Evaluation Sharing Tool: A public-private intelligence platform involving the Hong Kong Monetary Authority (HKMA), the Hong Kong Police Force, and the banking sector. As of mid-2026, all 28 retail banks in Hong Kong SAR participate, covering over 90 percent of bank accounts.
2. "Money Safe" Initiative: Allows bank customers to designate protected deposit amounts requiring extra verification steps for withdrawal. As of end-March 2026, over 14,000 customers have locked HK$4 billion in deposits under this scheme.
3. Project Gatekeeper: Scheduled to launch in 2027 to train frontline bank staff and carers to identify and handle financial scams targeting the elderly.
4. Cyber Hygiene Operation: Planned for 2027 by the Hong Kong Police in collaboration with technology and telecommunications companies to use artificial intelligence (AI) to proactively filter and remove online fraudulent content targeting seniors.
The silver economy presents substantial potential, with consumer spending by individuals aged 60 and above in Hong Kong SAR projected to increase by 45 percent, from HK$342 billion in 2024 to HK$496 billion in 2034. To capture this market, the Government is earmarking HK$100 million for a Gerontechnology Promotion Scheme to support local tech enterprises developing care solutions. Approximately 140 companies at Hong Kong Science and Technology Parks and Cyberport currently offer gerontechnology services.
Finally, product standardization and employment initiatives remain key priorities. Following the release of the Care Food Greater Bay Area (GBA) Standard, authorities are promoting quality registration schemes like the Hong Kong Q-Mark Silver Scheme and the HKQAA Hong Kong Registration – Silver-friendly Series, with plans to expand standards to walking sticks, wheelchairs, and exoskeleton systems. For workforce engagement, the Re-employment Allowance Pilot Scheme has recorded over 86,000 participants and 56,000 placements, while the Labour Department will organize about 75 thematic job fairs annually for older individuals starting in 2026.
Who May Be Affected
Senior citizens, financial institutions, insurance companies, banking staff, technology enterprises, and older job seekers in Hong Kong SAR.
Cross-Border Context
Includes cross-border retirement options enabling Hong Kong insurance policyholders to access retirement facilities in mainland China, as well as joint product quality certifications under Greater Bay Area (GBA) Standards.
What to check next
- Implementation details and guidelines for the HK$100 million Gerontechnology Promotion Scheme.
- Operational rollout of Project Gatekeeper and the AI Cyber Hygiene Operation scheduled for 2027.
- Further product enhancement details for the 'HKMC Retire 3' suite and GBA standard additions.
This article provides general information and does not constitute legal advice. Consult the official text and obtain advice appropriate to your circumstances where needed.