The Young Reporter

Invest for your Future: Retirement Savings should now be on Track
- 2020-04-24
- Business
- The Young Reporter
- By: Eurus Yiu、Mereen SantiradEdited by: Oasis Li
- 2020-04-24
Retirement may seem a long way off for young people, but it is never too early to invest for better retirement life. Once entering the workforce in Hong Kong, fresh graduates will start to invest via the Mandatory Provident Fund (MPF) - an employment-based retirement protection system. Under the scheme, both employee and employer are required to make a monthly mandatory MPF contribution, which is equivalent to 5% of the employee's relevant income, with a cap of HKD$30,000 per month. Employees with monthly earnings less than HK$7,100 are exempt from contributing to their own MPF accounts, but their employers are still required to make a 5% contribution. In that case, for someone who has worked for 43 years, he or she will have a minimum of $3 million of savings under the MPF Scheme. However, MPF hasn’t made everyone feel secure enough. The Financial Literacy Monitor 2018 reveals only 34% of surveyed Hongkongersres aged 18 to 79 were confident that they were financially well-prepared for retirement. According to UN World Population Prospects 2019, the average life expectancy for Hong Kong people has reached 85 years, ranking the top in the world. As people in Hong Kong generally retire at 65, retirement can potentially last for more than 20 years. During retirement, your monthly living expenses, medical fees as well as the cost of inflation can come up to much more than you expect. According to the Census and Statistics Department, the average monthly expenditure of retired households is $22,634. However, the survey done by the University of Hong Kong shows that respondents expected an average monthly retirement living expenses of about $12,600, which is less than half the actual monthly expenditure from the census and statistics department survey. Nearly 80% of the respondents considered that the average monthly expenditure after …

A drive through the newly opened Wan Chai Bypass and Island Eastern Corridor
- 2019-01-21
- Society
- The Young Reporter
- By: Anna KamEdited by: Rachel Yeo
- 2019-01-21
The Wan Chai Bypass and Island Eastern Corridor opens today, costing $36 billion dollars to build. The project began in December 2009 and aims to reduce traffic from the eastern corridor towards the city’s central area, which has previously been a problematic area for traffic during rush hour. This is caused by drivers and passengers going back to the Kowloon side via the Cross Harbour Tunnel and surge of traffic going towards the Sai Ying Pun area from Causeway Bay. Passengers that go by the route from the eastern corridor to the west side often have a 30 to 45 minute wait between 5:00PM to 7:30PM. Roads have now been changed in order to accommodate the brand new tunnel. One of our reporters drove through the tunnel this afternoon, taking about 5 minutes to drive through the entire 4.5km tunnel, with generally smooth traffic. However, the final "test" that should occur would be during the rush hours in the morning and evening. During the drive, there were no clear instructions indicated on switching lanes within the tunnel was not allowed, giving the Wan Chai North (going to the Wan Chai Convention Center) only one lane, but three lands while heading out to the western side of the island. Despite the three lanes leading up to the western side, there was also no clear route that connects the Western Crossing harbour Tunnel since the exit is currently closed. One of the main aims of the tunnel was to divert the traffic from the Cross Harbour Tunnel to the Western Crossing Tunnel and the Eastern Harbour Crossing. However, the unclear instructions and unopened roads made it very difficult to get to the Western Harbour Crossing. Overall, the experience of driving through the tunnel was smooth, despite some minor changes in the directions and some exits of the tunnel remaining closed.

Have yourself a Merry Lamma Christmas
- 2016-12-13
- The Young Reporter
- 2016-12-13
Treasure hunt, hiking and biking on the island for local charities by Angela Cheung, Emily Cheung and Richelia Yeung This is the 18th year for the community of Lamma Island and Operation Santa Claus collaboration to raise money for the local charities in Hong Kong. On December 4th, a bike race, a 10km marathon, a family scavenger hunt and a treasure hunt were held on the island. Robert Lockyer, the organiser of the events, said they hope to bring the community together for a good cause. He said there are around 300 to 400 participants this year. Most of them are from the island. "We have to spread out the events on the island," he said. "People even suggest additional events, so next year instead of a one-day event we will do two-days as we are hoping to do ten to twelve events next year." Mr Lockyer said it has been really busy to organise all the events, but fortunately, the members from the Lamma community are so supportive. "It's been a tradition that OSC is something Island Bar supported, so we took over that job as well," said Brad Tarr, owner of the bar, who took over it about six months ago. He said they tried to make as much money as they could by putting on bigger events this year. Mr Tarr hoped he could continue to support the campaign next year even if he could not make any profit. He also thanked those who had come to participate in the OSC events in Lamma Island this year as the events would not be here without them. "We do the event for OSC, not for us," Mr Tarr said, "If we can help a little bit these charities we will do it." Family Fun Island Scavenger Hunt The …

Unconditional love from Furry Doctors
- 2016-12-08
- The Young Reporter
- 2016-12-08
by Isabella Lo and Choco Tang On November 8, three animal therapy dogs - Donna, Oscar and Sunday - made a visit to the Hong Chi Winifred Mary Cheung Morninghope School again to meet with their long-awaited friends. Dr Dog, an animal-assisted therapy programme by Animals Asia, aims to provide a friend for those with special needs, such as the elderly, the sick and the children with emotional weakness or disability. Ben Tsui Hiu-fung, a primary six student from the special needs school, could not hide his excitement when he hugged Donna again after a week in the room filled with laughter. Another student from the same year, Sunny Lo Siu-sun, patted the head of another furry friend, Sunday, when he was reading his storybook to the other patient dogs. The school's registered social worker, Esther Chan Choi-wan, said the dogs will not judge children by their appearance or illness. "They spread an unconditional love for our children regardless of their personalities, their disabilities and their age," said Ms Chan. The therapy programme, which has started to offer companion animals across Asia 25 years ago, has cooperated with this school to serve children with mild and moderate intellectual disability since 2005. Before meeting their loyal friends, the children have to complete a few goals at school. "They are encouraged to attain some achievements, such as attending school on time, and be obedient during lessons," said Esther. Spending 15 to 20 minutes weekly with registered therapy dogs, children are encouraged to take care and interact with their ‘friends', and to build an intimate relationship with them. Marnie Yau Ma-yue, the programme manager of Dr Dog, said particular children are sorted out to spend more time with doctor dogs. "Like any other interests, if the children show substantial love and caring for …

Nature Works nurtures future
- 2016-11-26
- The Young Reporter
- 2016-11-26
Teenage nature enthusiasts put their innovative proposals into practice by Celia Lai & Cecilia Wong Held by The Nature Conservancy, Nature Works Hong Kong has come to the third year providing platforms for secondary students to plan "eco-friendly". This year eight student teams participated the program and came up with ideas, from food waste to shark rescue, in an attempt to protect the environment. The 11-month program, from March to December, put students into exposure of different environmental topics. The five-day training camp equipped students with knowledge and new skills through speakers and hands-on experiences. For instance, "minimum viable product", a concept about the smallest valuable thing one can contribute, was introduced to students to get hold a small control of the environment. Packed with fundamental knowledge, participants had to come up with ideas regarding four conservation themes: freshwater conservation, food sustainability, waste reduction and biodiversity and wildlife conservation, and later on realised them. "We chose the topic of eating sustainably because we eat every single day. It has an impact on the environment," said Rachelle Lui Ka-ching (16), one of the team members of Eco-roots. Eco-roots aimed to encourage sustainable eating habits among Hong Kong students. The five teammates had three goals: to improve access, increase awareness and inspire action. Building container gardens was one of their proposals. Eco-roots wanted to make sustainable food accessible to pupils by growing herbs and different types of veggies in the gardens in schools. "I hope I can educate the peers around me. They may change the way they eat and start thinking about the impact (of their eating habits) to the environment," said Rachelle. Participants had over nine weeks to refine their proposals under the guidance from volunteer professionals. These advisors fine-tuned students' presentations and gave them feedback on their planning process …