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  • October 25, 2014
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  1. In Brief

    Posted Apr 05th 2007, 12:00am by Staff Reporter

    ... MPF funds recovered The Mandatory Provident Fund Schemes Authority has helped 22 workers recover about HK$250,000 in MPF payments by nine employers. The Small Claims Tribunal ordered the companies to pay between HK$1,173 and HK$73,306 into their workers' MPF accounts. ...

  2. Employees deserve more control over who manages MPF funds

    Posted Jun 25th 2007, 12:00am by Staff Reporter

    ... It was just a small step towards improving the Mandatory Provident Fund (MPF) scheme when Secretary for Financial Services and the Treasury Frederick Ma Si-hang, disclosed last week that the MPF Authority is considering an option to allow employees to choose MPF trustees regarding the accrued benefits derived from their own contributions. I hope the proposals will increase market ...

  3. 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 ...

  4. Milestones of the MPF scheme

    Posted Dec 15th 2004, 12:00am by Lotte Pang

    ... Lotte Pang 1995 Study into Mandatory Provident Fund (MPF) conducted by a government-appointed consulting firm and release of a consultancy report in April. The Mandatory Provident Fund Scheme Ordinance is enacted in August. 1998 The Mandatory Provident Fund Authority (MPFA) is established in September to regulate and monitor the operation of the MPF scheme. 1999 Subsidiary ...

  5. We should not give more to under-performing MPF scheme

    Posted Jan 31st 2008, 12:00am by Staff Reporter

    ... should exercise fiscal responsibility. I also agree with his observation that the likely return from the Mandatory Provident Fund (MPF) scheme will not adequately provide for people's retirement. However, I do not agree that we should put more of our hard-earned money into the MPF scheme for a number of reasons. The MPF was never intended to be the sole source of income for our ...

  6. Enjoy life by saving today

    Posted Jun 26th 2012, 12:00am

    ... employees, younger workers save up for retirement by contributing to the Mandatory Provident Fund (MPF) and have the option to make additional contributions voluntarily. They can ask their employer to deduct the extra amount from their salary or instruct their bank to transfer the sum from their personal account to their MPF account. Some employers have set up employee benefits programmes, ...

  7. Employers tap HK$12b from MPF

    Posted Mar 04th 2010, 12:00am by Paggie Leung

    ... Paggie Leung Employers have taken out more than HK$12 billion from employees' MPF accounts to make severance and long service payments, legislators were told yesterday. The revelation ... use the accrued benefits derived from its MPF contributions to offset severance or long-service payments. 'This twists the policy objective of the MPF scheme, which aims to provide ...

  8. Corrections & clarifications

    Posted Jul 10th 2006, 12:00am by Staff Reporter

    ... In some editions on Saturday, the report 'MPF posts annual return of 6.99pc' on Page 1 wrongly described some Mandatory Provident Fund sectoral funds' cumulative returns as average annual returns. ...

  9. MPF choice put back to July 2012

    Posted Mar 29th 2011, 12:00am by Enoch Yiu

    ... employees to choose which MPF provider manages their share of pension contributions. Employees contribute 5 per cent of their salary, capped at HK$1,000 a month, to a retirement account. This is matched by the employer who also chooses the MPF provider. Allowing employees to choose their own provider is aimed at putting performance and fee pressure on MPF providers. Hong Kong MPF managers ...

  10. Government should prepare now for MPF rule change

    Posted Apr 27th 2010, 12:00am by Enoch Yiu

    ... the bosses decides who manages the total HK$300 billion worth of MPF contributions. Anticipating the law change, MPF providers including HSBC and RCM have launched funds offering higher returns. Many ... is the responsibility of salespeople to explain to employees the cost and risks related to changing MPF providers? With MPF providers offering more high-return, higher-risk products do employees understand ...




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