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Thread: Hong Kong, 1997-2017

  1. #16
    Senior Contributor DOR's Avatar
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    The Hong Kong Government is putting in place a retirement pension scheme that trades a lump sum investment for a guaranteed monthly payout. The initial investment is a minimum of HK$50,000 and a maximum of $1 million, and the payouts range from $265 / 290 (women / men) to $5,300 / $5,800.

    In dollars,

    Investment _ _ Women receive_ _ _ _ Men receive
    US$129,033 _ _ _ $684/mo _ _ _ _ _ _ $748/mo
    US$ 6,452 _ _ _ _ $34.2/mo_ _ _ _ __ $37.4/mo

    If you were to stick the money in a box and draw out the indicated amounts each month, it would last 14.3 years for men and 15.7 years for women. That takes you from the minimum age of 65 to 79.3 years old for men and 80.7 for women. In 2015, the life expectancy of Hong Kong men was 81.2 years, and women 87.3 years, so you'd run out of money.

    But, the government promises (ahem,) ‘suggests’ a 4% p.a. return, which means the money will last 21.2 years for men (to age 86.2) and 24.4 years – to age 89.4 – for women.
    But, that’s for kids born today. For people born 65 years ago, the life expectancy at that time was 62.2 and 62.3 years.

    So, a simple but fool-hardy extrapolation would take that margin of error and tell us that the boy born in Hong Kong this year will live to 106, and the girl to 122.3.
    Trust me?
    I'm an economist!

  2. #17
    Former Staff Senior Contributor Ironduke's Avatar
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    Why do men get more money than women under this scheme?
    What I don't want to see is the Bills winning a Super Bowl. As long as I'm alive that doesn't happen.

  3. #18
    Resident Curmudgeon Military Professional Gun Grape's Avatar
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    Quote Originally Posted by Ironduke View Post
    Why do men get more money than women under this scheme?
    They live longer,
    In 2015, the life expectancy of Hong Kong men was 81.2 years, and women 87.3 years,
    Its called Tourist Season. So why can't we shoot them?

  4. #19
    Senior Contributor DOR's Avatar
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    Quote Originally Posted by Ironduke View Post
    Why do men get more money than women under this scheme?
    Gun Grape got it in one.
    Trust me?
    I'm an economist!

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