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  1. News - Hong Kong - POLICY ADDRESS

    Lam convinced Leung to shelve plan to scrap MPF 'offsetting' mechanism: source

    Posted Jan 23rd 2014, 03:23am by Tanna Chong, Jeffie Lam and Gary Cheung

    ... offset severance and long-service payments to employees against their contributions to an employee's MPF. Labour minister Matthew Cheung Kin-chung said last week that the offsetting mechanism was included in a deal with employers, agreed to by employee representatives, to secure business leaders' agreement to establishing the MPF in 2003. Treasury minister Professor Chan ...

    http://www.scmp.com/news/hong-kong/article/1411402/lam-convinced-leung-shelve-plan-scrap-mpf-offsetting-mechanism-source
  2. News - Hong Kong - POLICY ADDRESS

    No plans to scrap MPF 'offsetting' mechanism, says Leung Chun-ying

    Posted Jan 17th 2014, 12:52pm by Tony Cheung and Jennifer Ngo

    ... Tony Cheung and Jennifer Ngo Chief Executive still weighing up action on employers' use of retirement fund for severance No plans to scrap controversial MPF 'offsetting' ... MPF, the city's compulsory retirement account. Speaking separately, labour minister Matthew Cheung Kin-chung said that when the MPF was established in 2003, a deal was made with employers ...

    http://www.scmp.com/news/hong-kong/article/1407582/no-plans-scrap-mpf-offsetting-mechanism-says-leung-chun-ying
  3. News - Hong Kong - POLICY ADDRESS

    Live: CY Leung undergoes grilling by lawmakers on policy address

    Posted Jan 16th 2014, 11:09am

    ... to abolish the MPF offsetting mechanism, as you promised during [the] election?” Leung said the absence of labour initiatives did not mean he was not concerned.  “I will handle the issue within this term,” the chief executive said in reference to the system where employers can offset part of a dismissal compensation settlement with MPF contributions. “We have to forge a consensus ...

    http://www.scmp.com/news/hong-kong/article/1406758/live-cy-leung-undergoes-grilling-lawmakers-policy-address

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