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  • October 22, 2014
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  1. MPF plans in the black

    Posted Nov 16th 2003, 12:00am by Jane Parry

    ... that by this stage most should have made up the losses of previous years For many people who for the past three years have had to pay into a Mandatory Provident Fund (MPF) Scheme, it has felt more like a tax than a savings plan. Unlike contributions to an Occupational Retirement Schemes Ordinance fund, which can be accessed when you change jobs and therefore used or reinvested, the money in an MPF ...

  2. Half the workforce unaware of MPF scheme charges

    Posted Nov 15th 2003, 12:00am by Patsy Moy

    ... understanding among workers of their MPF schemes which have been in place for three years, covering more than 2 million people. 'The problem of poor awareness and understanding of the schemes are not confined to workers of lower education level, but it happens across the board,' he said. 'The council believes standardisation of the format and wording in the MPF documents is a right ...

  3. Karaoke bar to pay MPF $50,000

    Posted Aug 21st 2003, 12:00am by Staff Reporter

    ... the authority $49,671.07 as contribution arrears and surcharges. The amount awarded will be reimbursed to the employees' MPF accounts as soon as it is received by the authority. Big Echo had earlier pleaded guilty at a Kwun Tong court to eight counts of failing to make MPF contributions on time and was fined $14,500. In the other two claims, the adjudicator ordered Jetwell Engineering ...

  4. MPF swells managed funds

    Posted Jul 29th 2003, 12:00am by Enoch Yiu

    ... for a third successive year to $1.49 trillion last year, thanks to the Mandatory Provident Fund (MPF) compulsory retirement scheme and the popularity of guaranteed funds. According to the annual ... in cash, 0.7 per cent in derivatives and 10 per cent in other instruments. 'The sizable growth in the Hong Kong market could be attributed to growing contributions to MPF schemes, increased ...

  5. Untouchable fund

    Posted Aug 22nd 2003, 12:00am by Staff Reporter

    ... I refer to the letter 'Mortgage relief' (August 20). I disagree with correspondent Tom Wang's idea of using the mandatory provident fund (MPF) for mortgage relief. The MPF has its own purpose of helping people to save money for their retirement. If we can withdraw money from the fund, then it is just another savings account. The MPF not only affects ...

  6. Workers take increased pension risk

    Posted Nov 10th 2003, 12:00am by Enoch Yiu

    ... and balanced funds and less into the more conservative options such as guaranteed or capital preservation funds. Under Hong Kong's compulsory Mandatory Provident Fund (MPF) scheme, employers and employees each contribute 5 per cent of monthly salary. Employees then decide on how to allocate the money. According to an MPFA report, as of the end of September, 14 per cent of MPF assets ...

  7. Lifetime working

    Posted Sep 15th 2003, 12:00am by Staff Reporter

    ... The Mandatory Provident Fund (MPF) was devised to look after Hong Kong's ageing population. Anyone who retires at 60 receives MPF benefits until around 75. While this is a precautionary measure, the elderly surely can have a better living. As there is lifelong learning, why shouldn't there be lifetime working? We should be able to assure workers of employment ...

  8. Letters

    Posted Aug 20th 2003, 12:00am by Staff Reporter

    ... relief Given the pain experienced by many people in servicing their mortgages, I suggest that the government allow the use of a percentage of one's mandatory provident fund (MPF) to service a mortgage. The MPF would have first claim (ahead of the bank) when the property is sold. This would alleviate the pain. TOM WANG, Clear Water Bay ...

  9. Equity funds enjoy upswing

    Posted Jul 13th 2003, 12:00am by Gwyneth Roberts

    ... 11 per cent. Hong Kong's compulsory pension system, the Mandatory Provident Fund, reported an average gain of 6.42 per cent in the first half of the year. MPF equity funds had ... environment for equities.' He said about half the money currently in Adam's MPF schemes was in more conservative strategies, which had delivered positive returns in the past two years. ...

  10. CityBriefs

    Posted Aug 30th 2003, 12:00am by Staff Reporter

    ... with a 20cm knife during a row over MPF contributions. Police said the woman, 52, went to the AIA office on the 42nd floor of a building in Electric Road, North Point, at about 10.30am to try to get her MPF contributions back. When she failed, she took out the knife and threatened staff. No one was hurt in the incident. Police were called and, after calming down, she put down the knife. ...




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