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  • November 28, 2014
  • Last updated: 6:07pm
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  1. Comment - Insight & Opinion

    First, let's provide for the elderly poor in Hong Kong

    Posted Aug 24th 2014, 03:43am by Philip Bowring

    ... to be addressed. They are linked but have very different time scales. One is elderly poverty. The other is a scheme to provide for the future that meshes with the MPF. The most urgent is to address ... retirement, because they are the ones who built most of the surpluses. For the future, there should be a gradually increasing reliance on the MPF- except that its still-high costs make it a poor ...

  2. Return investment gains to the people

    Posted Nov 07th 2010, 12:00am by Philip Bowring

    ... much better it would have been for all concerned, except government officials, if a large part of the fiscal surplus back in 2000 had been credited to the MPF accounts of those who had earned ...

  3. Keeping vested interests happy

    Posted May 01st 2006, 12:00am by Philip Bowring

    ... officially sanctioned oligopolies in the financial sector are making hay at the public's expense. The one that hits the hardest is the Mandatory Provident Fund (MPF). Forced savings may be desirable but the attached fees and charges are a bonanza for the service providers. As Mr Webb's research has shown, those who invested their MPF dollars in HSBC's Hang Seng Tracker Fund ...

  4. Budget solutions

    Posted Feb 03rd 2009, 12:00am by Philip Bowring

    ... should promise root-and-branch reform of the MPF. Despite small improvements, this is still a high-cost machine that hands massive profits to a favoured few financial intermediaries, regardless ...

  5. Right man for the job?

    Posted Jul 11th 2005, 12:00am by Philip Bowring

    ... services he was involved in creating the Mandatory Provident Fund (MPF), and went on to become its first boss. He got a huge salary increase- without losing his very generous civil service pension rights. The MPF is an expensive bureaucracy that eats up the forced savings of citizens. It is a classic bureaucratic boondoggle for ex-civil servants. From there he went to the private sector- ...



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