Retirement idea of retirement is of recent origin, being introduced during the late 19th and early 20th centuries. Previously, low life expectancy and the absence of pension arrangements meant that most workers continued to work until death. Germany was the first country to introduce retirement benefits in 1889. Nowadays, most developed countries have systems to provide pensions on retirement in old age, which may be sponsored by employers or the state. In many poorer countries, support for the old is still mainly provided through the family. Today, retirement with a pension is considered a right of the worker in many societies,
Old Age Allowance proposal for a means test. In July 2012, Chief Executive C. Y. Leung announced the new Old Age Living Allowance, which would provide monthly payments of HK$2,200, roughly double the existing OAA, to applicants who met a means test. By June 2013, three months after the OALA scheme had begun, there were more than 310,000 recipients, mostly former NOAA recipients between the ages of 65 and 69 who had been automatically converted to the new OALA scheme. Old Age Allowance Old Age Allowance, colloquially known as fruit money, is a Hong Kong government programme introduced in 1973 which provides monthly