Now 20 years since its return to China, Hong Kong residents are again rushing to secure British passports as a safety net in the event of more possible problems ahead such as social unrest or the erosion of civil liberties in Hong Kong. With the “occupy” street protests of 2014, and increasing calls for independence more residents in Hong Kong are looking for a way out in the event of any unrest. The BNO passport applications are still being renewed in Hong Kong as an insurance policy.
If you are retired and wish to draw your UK pension in a foreign country then this can be done. Note however that there is a limitation on increases in your pension when you live outside the UK or outside of the European Economic Area or Switzerland. Most British expats tend to retire in Thailand and the Philippines and these are excluded from increases, as well as Australia and New Zealand.