Hong Kong Monetary Authority publishes update on HKMC public education event promoting HKMC Retire 3 retirement products

The Hong Kong Monetary Authority published a release on a public education event organised by the Hong Kong Mortgage Corporation Limited (HKMC) to promote the “HKMC Retire 3” suite and broader retirement planning information. The event, held at the Hong Kong Convention and Exhibition Centre, drew around 300 participants and focused on using the products to generate lifelong payouts. “HKMC Retire 3” comprises the Reverse Mortgage Programme, the Policy Reverse Mortgage Programme and the HKMC Annuity Plan. The programme included a product briefing, Q&A, one-on-one consultations and other activities, and also featured a session by social enterprise and charity AWEsum Care on the “Three Instruments of Peace” (a Will, an Enduring Power of Attorney and an Advance Medical Directive) for planning ahead in the event of mental incapacity or death. HKMC’s chief executive said the suite has helped around 40,000 customers, and clarified that the reverse mortgage programmes are operated by HKMC Insurance Limited while the annuity plan is underwritten by HKMC Annuity Limited, both wholly owned subsidiaries of HKMC. HKMC plans to step up promotion and elderly financial education, including organising over 150 seminars in 2025, in support of the Government’s initiative to promote a silver economy, and to cooperate with other institutions to further promote retirement planning concepts.