Frequently asked questions

There is no single figure; it depends on lifestyle, housing and health. A couple’s monthly spend ranges roughly HK$12,840–30,740 (affluent close to HK$53,790) — use the range, then estimate your personal gap.

Usually not. Mandatory contributions typically cover only part of what you need; combine with annuities, savings and investments.

Generally from age 65; earlier in special cases such as early retirement at 60, permanent departure or total incapacity.

Trade-offs both ways: a lump sum is flexible but easier to deplete; instalments mimic a salary and are steadier. It depends on your cash-flow needs.

Qualifying deferred annuities (QDAP) are deductible, sharing an annual cap with TVC — currently up to HK$60,000 per person per year combined; the public annuity itself is not deductible.

The public annuity is an immediate lifelong annuity; private annuities vary in payout period and guaranteed/non-guaranteed parts, and some are tax-deductible.

It depends on age and health; later applications face stricter underwriting and higher premiums, and pre-existing conditions may be loaded — apply early.

VHIS qualifying premiums are deductible up to HK$8,000 per insured person per year; Health Care Vouchers are currently HK$2,500/year for 65+ with an HK$8,000 cap. Amounts follow official sources.

It lets you appoint an attorney while of sound mind to manage finances if you later lose capacity; it needs doctor and solicitor witnessing.

Generally a will, an enduring power of attorney and an advance medical directive — covering succession, financial management and medical wishes.

Use the four-step method: list essentials, lock protected income with annuities, draw flexibly from investments, and reserve for medical and emergencies.

Understand their income, expenses, assets and health; organise MPF/annuities/protection; then arrange legal documents.