GovHK: Response to Hong Kong annuity scheme 'within expectations' but likely to fall short of US$1.27b target

Hong Kong government's HK$10 billion (US$1.27 billion) public annuity scheme may not quite hit its target when the subscription period closes on Wednesday as senior citizens find the returns to be too low, but the scheme's operator says the "response is within expectations". Launched on July 19, the scheme is open to those aged 65 and above and they can invest between HK$50,000 and HK$1 million in exchange for lifelong monthly payments. The government planned to...