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  • 1 Post By er2

Compulsory retirement age in businesses in HK

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  1. #1

    Join Date
    Feb 2018

    Compulsory retirement age in businesses in HK

    I am interested to know (from people who work in the big banks, insurance companies, consultancies etc) what is the compulsory (as opposed to early) retirement age in various HK businesses.

    Civil sevice retirement age moved to 65 from 60 a few years back and businesses were "expected" to follow. I am curious to know who did and who didn't.

    As an example, I know that HSBC HK retires its staff at 60 from permanent status with the mutually agreed possibility of one year contract(s) after that to 65. Seems like ageism. Do other international banks, companies also do this in HK?

  2. #2

    Join Date
    Oct 2007

    Bunch of years back my Deloitte contract said 55 - not that I would have survived that long there. Still, it basically assumes your entire working life will be significantly less than your non-working life. Very odd but an easy way to shed staff without having to actively lay people off.

    Eva C likes this.