Almost 3,000 jobs will be created by the Mandatory Provident Fund (MPF), according to one of the industry's biggest players.
Rob Pocknee, National Mutual Insurance's general manager of employee benefits, said the onset of the MPF was crucial as Hong Kong was in a recession with unemployment at a 15-year high.
He said there should be no further delays in announcing the MPF's starting date.
National Mutual believed April 2000 was the most likely date for implementation, he said.
The biggest demand would be in sales, where Mr Pocknee said approximately 1,200 staff would be needed to seek the SAR's business owners as clients.
National Mutual would look to employ a further 120 people, but it was waiting for a timetable on implementation before committing.