Work Capacity of Older Adults in Hong Kong

Kwok Ho Chan and Michael Chi Man Ng ()
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Michael Chi Man Ng: Richmond American University London, UK

Eurasian Journal of Economics and Finance, 2023, vol. 11, issue 2, 62-71

Abstract: Hong Kong is facing a serious ageing issue. Apart from that, Hong Kong is facing a shrinking labor force as the number of people in the labor force has been falling since 2018. The ageing population and shrinking labor force have stimulated the discussion on the age threshold of eligible older adults to receive retirement benefits and/or old age allowances. The impact of any policy change may depend on the health and the work capacity of the people aged around 65. Nonetheless, research on the work capacity of older adults in Hong Kong is lacking. In this study, we attempted to estimate the work capacity of older adults in Hong Kong based on the mortality rate. It was found that there is substantial untapped work capacity of older adults in Hong Kong, with a potential gain in work capacity of 3.898 years. The results of this study shed light on the making of old-age policies. With the rapid ageing population and shrinking labor force in Hong Kong, it is timely to explore if the society could further utilize the work capacity of older adults. More research on the work capacity and health of the elderly is needed.

Keywords: Work Capacity; Aging Population; Hong Kong (search for similar items in EconPapers)
Date: 2023
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