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  • September 20, 2014
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  1. Call for MPF tax breaks

    Posted Jan 10th 2012, 12:00am

    ... The equity market downturn in the fourth quarter of last year has had a negative effect on the Mandatory Provident Fund (MPF) in Hong Kong, with a survey showing that Hongkongers feel ... the retirement funds of the 2.5 million Hong Kong employees in the MPF. Their investments lost an average of 8.41 per cent in that time. It was the second-worst performance since the launch of the scheme ...

  2. Investment fund seen as taxation

    Posted Oct 27th 2011, 12:00am

    ... Chris Davis In spite of being labelled a cornerstone of retirement savings in Hong Kong, voluntary contributions to the Mandatory Provident Fund (MPF) remain relatively low. Unlike Singapore and Australia, where the equivalent of the MPF has become part of the overall savings landscape among employees and employers, many employees in Hong Kong consider the MPF another form ...

  3. MPF fees may fall as workers make the switch

    Posted May 25th 2012, 12:00am

    ... and savings from managing bigger funds will reduce MPF fees, industry representatives say. Even if there are no gains in administrative efficiency, total MPF fees could drop to 1.18 per cent ... Association. The Consumer Council in 2007 criticised MPF fees as too high, saying they would eat up a big chunk of an employee's retirement funds by the time they are allowed to use them. ...

  4. Legislators warn of new minibond fiasco under MPF law change plan

    Posted Apr 05th 2011, 12:00am

    ... leading to a repeat of the minibond fiasco. The government last week proposed changes to ensure all of the 28,365 MPF salespeople and new entrants be registered with the Mandatory Provident Funds Scheme Authority. The authority is also proposed to be the sole body to receive MPF-related complaints. But in terms of daily monitoring and investigation as well as penalties, the government ...

  5. Civil servants plan March 6 protest over one-off MPF handout exclusion

    Posted Feb 26th 2011, 12:00am by Amy Nip

    ... will get the HK$6,000 handout, but only if they open a new MPF account and manage it till they reach the retirement age of 65. The procedure itself is a nuisance for many- not to mention ... are workers, too.' Only people who joined the government service after the year 2000- totalling 30,000- and political appointees such as secretaries heading bureaus were covered by MPF schemes ...

  6. HK$12b MPF raid shows our officials are no Einsteins

    Posted Mar 05th 2010, 12:00am by Tom Holland

    ... him from the clutches of the law. But Hong Kong is different. Here, employers are fully entitled to claw back the money accrued from their contributions to an employee's MPF scheme ... with the rules, each month he pays HK$1,000 into his MPF, and each month his employer matches his contribution with another HK$1,000. He works away diligently for five years, but then hard times hit Hong ...

  7. Anna Wu to head the MPF authority

    Posted Feb 28th 2009, 12:00am by Fox Yi Hu

    ... for his 'insightful advice and guidance to the MPFA in steering the development of the MPF system'. At the end of last year, the MPF system covered more than 2.44 million scheme members. The total net assets of all MPF-approved constituent funds was more than HK$209.4 billion. Ms Wu, 57, was appointed an Executive Council member last month when Mr Fan stepped down. The former Equal ...

  8. Postpone HK$9b boost of MPF, say pan-democrats

    Posted Feb 07th 2009, 12:00am by Staff Reporter

    ... earners' MPF accounts. 'I wish the government would reconsider making contributions into employee's voluntary MPF accounts. This allows more freedom on withdrawing the money to support ... in the coming budget, Mr Tam said. Liberal Party chairwoman Miriam Lau Kin-yee supported the original plan to making special contributions to MPF accounts. A spokesman for the financial secretary said ...

  9. Sacked civil servants may lose part of MPF

    Posted Nov 18th 2008, 12:00am by Staff Reporter

    ... of the proposal. 'If two people have killed people, and one works at the government and the other at a restaurant, the restaurant won't cut its employee's MPF,' Mr Poon said. Ms Yue ... on MPF terms would then have served for 10 years and be entitled to their full benefits. ...

  10. Flexibility urged over one-off MPF payment

    Posted Nov 27th 2008, 12:00am by Staff Reporter

    ... Eva Wu Amid growing uncertainty in the labour market, low-income earners should be allowed to withdraw the government's one-off payment of HK$6,000 into their MPF accounts, unionist lawmaker Lee Cheuk-yan said yesterday. In early July, the Legislative Council approved the payments into the Mandatory Provident Fund accounts of 1.7 million low-income workers who earn no more ...




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