Please enable JavaScript.

Coggle requires JavaScript to display documents.

Elderly problems (Elderly poverty (Problems of MPF (2nd pillar) (Limited…

- - - - Stigmatization + family honour
        
        Children: Filial piety, don't want children labeled as unfilial by official declaration
        
        Elderly: Not want to be considered "lazy for his whole life so no savings"
      - Lack of knowledge abt. social support
      - Believe/ forced to recognize "self-reliance"
      - Very high threshold
        
        Reduce no. of elderly helped
    - - Filial piety = let elderly remain in homes
      - Big market small gov't (non-intervention approach)
      - Costly for gov't to allocate land, labour, services etc.
  - - - X Housewives
      - X Self-employed
      - Little savings for low-income
      - Cannot help current generation (because need decades to mature)
    - - When employers use money in MPF to offset long-service payments
- - - - Sustainable
        
        Reduce risk (if one pillar fails e.g. gov't deficit)
- - - - Lack due to job image
        
        Increase labor cost
        
        Cost of production + inflation = High cost of living
    - - Hinder innovation
      - Retirement = loss of expertise
    - - In excess
- - - - Increased resource burden
        
        Reduced capacity
        
        Reduced quality of medical service (impact since 80% use public healthcare)
        
        More waiting time
        
        Stressed staff are prone to mistakes
        
        Lack of adequate personnel, less attentive