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  1. News - Hong Kong - SOCIAL SECURITY

    'There's no free lunch,' says Chan of universal pension

    Posted Apr 02nd 2013, 12:00am by Colleen Lee

    ... fund]," he said. "You share workers' contributions supposedly for their own retirement with others. The current MPF is to benefit oneself, while the proposed pension scheme would ... to be managed by the Monetary Authority. Their contributions to the MPF will drop to 2 per cent and the government will have to put in HK$50 billion every five years.   ...

    http://www.scmp.com/news/hong-kong/article/1204954/theres-no-free-lunch-says-chan-universal-pension

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