Hong Kong public school teachers withdrew HK$8.4 billion (US$1.1 billion) from two retirement fund schemes in 2024–25, down 3.4 per cent from the year before, marking the third consecutive annual decline amid subsiding emigration.
Resignation remained the main reason for withdrawals, rather than retirement, as a growing proportion of young teachers left the profession, accounting for 32 to 35 per cent of all cases in the two funds, the highest level since 2021.
The Education Bureau on Wednesday released its annual report on the Subsidised Schools Provident Fund and the Grants Schools Provident Fund for the previous school year, reflecting the latest trends in resignations and retirements among teachers.
Teachers and principals in public schools are required to join one of the two provident fund schemes for educators.
There are 22 grant schools in Hong Kong, generally regarded as elite institutions.
Teachers took out HK$8.4 billion from the funds in the previous academic year, down from HK$8.7 billion in 2023–24 and a peak of HK$10.7 billion in 2021–22.
A total of 2,581 teachers withdrew from the fund last year, each taking out an average of about HK$3.38 million, according to calculations by the South China Morning Post.
