The first thing to know about Hong Kong's Old Age Living Allowance (OALA) is that it is not a simple bank-balance test. The Social Welfare Department checks monthly income and total assets separately, then applies age, residence and other social-security conditions. A person can be below the asset limit but above the income limit, or the other way round.
Use the Old Age Living Allowance eligibility checker for a preliminary age, residence, 2026 income and asset screen, then return to this guide to classify insurance, bonds, MPF and annuities. A calculator result is not SWD approval.
The figures below are the screening limits published by the Social Welfare Department and effective from 1 February 2026. They are not an approval result. For the complete rules, start with the Social Welfare Department's official OALA page and its income and asset limits.
OALA 2026 income and asset limits
| Applicant | Monthly income limit | Asset limit |
|---|---|---|
| Single person | HK$10,900 | HK$415,000 |
| Married couple | HK$16,680 | HK$630,000 |
The current monthly OALA payment shown by SWD is HK$4,345. The payment rate is separate from the income and asset tests above, so being below a limit does not remove the other eligibility conditions.
How much is Old Age Allowance, and is it the same as OALA?
No. Old Age Allowance, often called fruit money, is a separate Social Security Allowance. It is generally not means-tested and pays a lower monthly amount than OALA. The same person cannot receive OALA and Old Age Allowance together. If a search result says “how much is the old age allowance in Hong Kong”, first check whether the question is about OALA or fruit money; the two schemes have different rules and different payments. SWD's official allowance table lists the monthly amounts from 1 February 2026 as HK$1,675 for Old Age Allowance and HK$4,345 for OALA.
| Comparison | OALA | Old Age Allowance / fruit money |
|---|---|---|
| General minimum age | 65 | 70 |
| Income and asset test | Yes | Generally no |
| Monthly amount from 1 February 2026 | HK$4,345 | HK$1,675 |
| Can the same person receive both? | No | No |
The couple limits are not two single-person limits added together. A married applicant, and in the cases covered by the scheme a cohabiting partner, may need to declare both people's income and assets. If your situation changed during the year, ask the Social Welfare Department how the relevant period is assessed rather than choosing whichever month's balance looks lowest.
Who can apply?
At a high level, an OALA applicant must be at least 65, meet the Hong Kong residence requirements, stay within the prescribed income and asset limits, and not receive certain other benefits such as Old Age Allowance, Disability Allowance or Comprehensive Social Security Assistance at the same time. The residence test includes seven years as a Hong Kong resident and continuous residence immediately before application, subject to the scheme's absence rule. The official application guidance should be used for the full test.
What counts as income?
The SWD list includes wages and other employment income, self-employment or business income, monthly commissions or bonuses, retirement benefits or pensions, net rental income and payouts from annuity schemes. That is why a retiree who has little salary can still be over the OALA income limit because of a pension, rent or annuity payout.
Not every payment received in a bank account is automatically treated in the same way. The official OALA guidance excludes certain family or friend contributions and qualifying monthly payments from the Reverse Mortgage Programme, but money that is not spent and accumulates as cash or savings can later become an asset. Keep a record of the source and use of unusual or one-off payments.
What counts as assets?
Common assessable assets include cash, bank deposits, stocks, bonds, funds, business interests, land and non-owner-occupied property, investment or commercial vehicles and gold bars or coins. Accrued retirement benefits can also be relevant. The value used for an investment or property is not necessarily the same number shown in an app or an old purchase document, so ask SWD if the classification or valuation is unclear.
An owner-occupied home is generally excluded from the asset test. Insurance needs a more precise check: SWD exempts the cash value, including policy bonuses or interest, where the plan contains the insurance components described in its guidance, such as life, medical or critical-illness protection. If a plan does not involve those insurance components, its cash value may instead be counted under an investment or savings asset category. Cash already withdrawn or received on surrender must be reported in its current form.
Do Silver Bonds and government bonds count as assets?
Yes. SWD expressly includes bonds in assessable investment assets; government issuance does not create an automatic exemption. For a traded bond, SWD says an applicant may use the average selling price on the last trading day before applying. A recent bank or securities statement can be used where applicable. For a Silver Bond, keep the latest holding or account statement and ask SWD to confirm the reportable value rather than treating the principal as exempt merely because the issuer is the government.
Does government-bond interest count as OALA income?
The current SWD OALA page clearly classifies bonds as assets but does not separately state how bond interest is treated in its published income list. Do not infer that it is always included or always exempt. Take the bond terms, coupon record and bank statement to SWD and confirm on the OALA enquiry line, 3595 0130. Once paid and retained as cash or a bank balance, the money's asset form must still be declared honestly.
MPF, annuities and insurance need a closer look
These are the items most likely to produce a misleading online answer. MPF treatment can depend on whose account it is, the person's age, the type of accrued retirement benefit and whether money has already been withdrawn. An annuity may reduce the asset counted in one way while its regular payout is counted as income. A policy's cash value can be excluded under the OALA definition, but the proceeds after surrender or withdrawal may no longer be a policy cash value.
Do not enter a single “retirement assets” number and assume the result is settled. Split the amounts into MPF, pension, annuity, insurance, cash and investments, then take the classification to SWD before applying.
Is OALA taxable in Hong Kong?
This is a common search question, but eligibility and tax are two different systems. OALA is a Social Security Allowance administered by SWD; it should not be treated as employment income simply because it is paid monthly. At the same time, a pension, annuity, rental income or employment income received by the same person may have its own tax treatment. This guide is not a tax ruling, so check the Inland Revenue Department's individual-tax guidance or ask IRD about your specific payment before filing a return.
What a calculator can—and cannot—tell you
A calculator is useful for an initial screen: it can show the applicable single or couple limits, add the amounts you enter and flag which categories need an official check. It cannot decide whether a particular MPF balance, policy, property, annuity, gift or transfer is exempt, nor can it replace SWD's assessment. Treat “within the limit” as “worth checking”, not “approved”.
Use the Old Age Living Allowance eligibility checker to work through the principal age, residence, income, asset and conflicting-benefit checks. Keep the result as a preparation list rather than proof of entitlement.
Do not move money, give away assets or change ownership just to make an online total pass. Incomplete or inaccurate declarations can create a much bigger problem than an application that needs clarification. Keep statements, pension records, annuity schedules, property details and explanations for large transfers together.
Frequently asked questions
### What are the 2026 OALA income and asset limits for a single person and a couple?
From 1 February 2026, the single-person monthly income and asset limits are HK$10,900 and HK$415,000. The combined limits for a married or qualifying cohabiting couple are HK$16,680 and HK$630,000. Staying within them does not guarantee approval.
### Does insurance cash value count as an OALA asset?
SWD exempts the cash value, including policy bonuses or interest, where a policy contains insurance components such as life, medical or critical-illness protection. If the plan lacks those insurance components, its cash value may be counted as an investment or savings asset. Cash after surrender or withdrawal must be declared in its current form.
### Do Silver Bonds or government bonds count as OALA assets?
Yes. SWD lists bonds as assets; government issuance does not make them exempt. Use an available recent trading value or bank or securities statement, and ask SWD to confirm the reportable value of a Silver Bond holding.
### Does government-bond interest count as OALA income?
SWD clearly lists bonds as assets but does not separately explain bond-interest treatment in its published income list. Do not assume it is always included or exempt; take the coupon record to SWD for confirmation. Once retained as cash or a bank deposit, its asset form must still be declared.
### What is the difference between OALA and Old Age Allowance?
OALA is for people aged 65 or above who pass its income and asset test. Old Age Allowance, or fruit money, is generally for people aged 70 or above and does not use the same means test. From 1 February 2026, the monthly amounts are HK$4,345 and HK$1,675 respectively; the same person cannot receive both at once.
### Is Old Age Living Allowance taxable in Hong Kong?
OALA is a Social Security Allowance, not employment income. A pension, rent, annuity or salary received by the same person may still have its own tax treatment under IRD rules.
Last checked 24 August 2026. Limits and scheme rules can change; the Social Welfare Department's current forms, guidance and decision remain authoritative.