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CUHK Accounting Students Win Retirement Plan Competition |
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Three Year 2 undergraduate students of the Professional Accountancy Programme of the Faculty of Business Administration, The Chinese University of Hong Kong, beat 100 students from nine Hong Kong and overseas universities to win the Hong Kong Society Retirement Plan Research Competition organized by ET Business College on 9 December 2006. The students were Tsang Wing Pong Vincent, Li Ka Ying Tiffany and Ling Yin Wan Kitty.
According to the recent Hong Kong population policy report, an aging population will become one of the major obstacles to the steady development of our society in the next 30 years. In the Hong Kong Society Retirement Plan Research Competition, participants were required to develop a comprehensive retirement plan to ensure the sustainable development of society. The winning team from CUHK, Synergy, proposed a universal retirement plan and a reform in the long-term financing arrangement of health care. Their proposal addressed the problem of the aged having to cope with huge medical expenses and the low income group who only have little MPF savings, to help prevent the aging population from being a burden on society. The winning team said, 'The competition provided us with the opportunity to study and review Hong Kong's population policy and raise our awareness of the concept of planning for retirement. We now understand the importance of a robust retirement plan to individuals and society as a whole. We also learnt a lot from the judges' comments.'
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