OALA asset test 2026: counted and exempt items explained
The Old Age Living Allowance (OALA) is subject to an asset and income test; whether you qualify depends on whether your (and your spouse's) assets and income are within the limits. To assess your eligibility accurately, the key is to tell which items are 'counted' and which are 'exempt'. This follows the Social Welfare Department's rules, for honest self-checking — not for getting around the test.
2026 OALA asset and income limits
From 1 February 2026 the OALA is HK$4,345 per month. Asset limits: about HK$415,000 for a single person and about HK$630,000 for a couple (including cohabiting); monthly income limits: HK$10,900 (single) and HK$16,680 (couple). A couple is assessed jointly, even if one is under 65.
| Item | Single | Couple (combined) |
|---|---|---|
| Monthly allowance | HK$4,345 | HK$4,345 each |
| Asset limit | ~HK$415,000 | ~HK$630,000 |
| Monthly income limit | HK$10,900 | HK$16,680 |
Figures effective 1 February 2026; amounts and limits are reviewed yearly and are subject to the Social Welfare Department.
Which assets are 'counted'?
The test covers the applicant's and spouse's/cohabitant's relevant items in Hong Kong and overseas. Counted assets generally include: cash, bank deposits, stocks, funds, bonds, non-owner-occupied property, land, commercial vehicles and their licences, gold bars and coins, and withdrawn MPF or retirement benefits.
- Cash and bank deposits.
- Stocks, funds, bonds and investments.
- Non-owner-occupied property and land.
- Withdrawn MPF / retirement benefits.
- Gold bars/coins, commercial vehicles and licences.
Asset definitions and calculation follow the Social Welfare Department.
Which items are 'exempt'?
Items generally exempt from assets include: your owner-occupied home (main residence) and its self-use parking space, a niche for future self-use, and the cash value of insurance policies. The SWD states that the cash value of life, medical and critical illness insurance (including bonuses or interest) is not counted. Annuity premiums are generally exempt from assets, but the monthly annuity counts as income (see the separate article).
- Owner-occupied home (main residence) and self-use parking.
- A niche for future self-use.
- Cash value/bonuses/interest of life/medical/critical illness insurance.
- Annuity premiums generally exempt from assets, but monthly annuity counts as income.
Exemptions follow the SWD; general education only, not personalised financial or legal advice.
Honest declaration: the rules aren't for getting around the test
The point of understanding counted and exempt items is to assess and declare your own situation accurately — not to deliberately restructure assets to get around the test. The OALA is meant to help elders in genuine financial need; any arrangement must be based on real need and real transactions, with all assets declared honestly. Misreporting or sham transactions is a breach, with consequences including loss of eligibility and clawback. For complex asset structures, consult a licensed professional.
General education only, not personalised advice; eligibility and calculation follow the SWD.
How to self-check your eligibility
- List your and your spouse's full assets and income.
- Compare item by item against the 2026 limits, separating counted from exempt.
- Use the GovHK 'Social Security Allowance eligibility calculator' for an initial estimate.
- If in doubt, check with the SWD or a licensed financial/insurance advisor.
Self-checking is indicative only; final eligibility is decided by the SWD.
Related reading
Frequently asked questions
What is the 2026 OALA asset limit?
From 1 February 2026, about HK$415,000 for a single person and about HK$630,000 for a couple; monthly income limits are HK$10,900 (single) and HK$16,680 (couple). Subject to the SWD.
Is my home counted in the OALA asset test?
Generally not. Your owner-occupied main residence and its self-use parking are exempt; non-owner-occupied property and land are counted. Per the SWD.
Is insurance cash value counted?
The SWD states the cash value of life, medical and critical illness insurance (including bonuses/interest) is not counted. But any arrangement must be based on genuine need and honest declaration.
Which items most often push assets over the limit?
Accumulated bank deposits, withdrawn MPF, appreciation of stocks and funds, and holding non-owner-occupied property are the most common causes.
How do I self-check my eligibility?
List your and your spouse's assets and income, compare item by item against the 2026 limits, or use the GovHK Social Security Allowance eligibility calculator; final eligibility rests with the SWD.
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