Hong Kong to send welfare cash to retirees' mainland accounts from July
Retirees in Guangdong and Fujian can now receive HK welfare directly in mainland bank accounts.
Deep Dive
Hong Kong Chief Executive John Lee announced that from July, elderly welfare recipients retiring in Guangdong and Fujian provinces can have cash assistance directly sent to their mainland bank accounts via Bank of China (Hong Kong) or ICBC Asia. The scheme covers CSSA, Old Age Living Allowance, and Old Age Allowance, aiming to provide a more secure retired life for Hongkongers living in these regions.
Key Points
- From July 2024, Hong Kong retirees in Guangdong and Fujian can get welfare cash sent directly to mainland bank accounts via Bank of China (HK) or ICBC Asia.
- Covered benefits include CSSA, Old Age Living Allowance, and Old Age Allowance under the Guangdong and Fujian measures.
- The scheme aims to provide a more secure retired life and eliminate the need for elderly to return to Hong Kong for benefit collection.
Why It Matters
Over 100,000 Hong Kong retirees in mainland China gain seamless access to welfare payments, enhancing their financial security.