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  • November 24, 2014
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Results 1 - 10 of 13 for mpf

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  1. MPF shortcomings must be addressed

    Posted Jul 25th 2011, 12:00am

    ... The MPF Schemes Authority has suggested the first major changes to the city's compulsory pension system since it was set up 11 years ago. They have been keenly awaited, amid criticism ... rather than administration. Proposals unveiled by authority chairwoman Anna Wu Hung-yuk focus on enhancing flexibility of access to savings by MPF account holders. Retirees would be able ...

  2. Failed MPF scheme should be wound up

    Posted Sep 12th 2010, 12:00am by Jake Van Der Kamp

    ... found. SCMP, Sept 8 I stand amazed. Do they mean to tell me that as many as four out of every 10 people in this town actually believe that their MPF investments will give them enough money to live on in retirement? I wouldn't have thought it possible, I mean that so many people should believe this. It certainly isn't possible to get enough back from the MPF for retirement. ...

  3. MPF a flop for workers and a rip-off by employers

    Posted Mar 07th 2010, 12:00am by Staff Reporter

    ... such raids would land bosses in jail- not so in Hong Kong. Under local laws, companies can use their contribution to an employee's MPF account for such purposes. This saves them great expense, ... This unequal treatment of bosses and workers not only makes the scheme inherently unfair, it also seriously erodes the value of the MPF accounts of those unlucky enough to be given the boot several ...

  4. Most Hongkongers doubt MPF can support their retirement

    Posted May 11th 2006, 12:00am by Martin Wong

    ... not think that the existing MPF would be sufficient to support them after their retirement. However, the survey revealed that many lacked proper financial management, with 43 per cent of respondents ... their investment plans- including the MPF scheme- or pay any attention to their investment returns. The average preferred retirement age was 53 years- 12 years earlier than the statutory retirement age ...

  5. Lifetime working

    Posted Sep 15th 2003, 12:00am by Staff Reporter

    ... The Mandatory Provident Fund (MPF) was devised to look after Hong Kong's ageing population. Anyone who retires at 60 receives MPF benefits until around 75. While this is a precautionary measure, the elderly surely can have a better living. As there is lifelong learning, why shouldn't there be lifetime working? We should be able to assure workers of employment ...

  6. HK's ageing population is a growing cause for concern

    Posted Jun 29th 2005, 12:00am by Allan Nam

    ... proposed a central provident scheme to legislators in the '80s. It was only in 2000, with the launch of the Mandatory Provident Fund, that his efforts started to bear fruit. But the MPF is widely considered to be inadequate to meet Hong Kong's retirement income protection needs. 'Our studies show the MPF provides an income replacement ratio of less than 30 per cent based ...

  7. People our most precious asset; let's not waste them

    Posted Dec 17th 2009, 12:00am by Staff Reporter

    ... with the introduction of the Mandatory Provident Fund Scheme. However, MPF contribution rates are too low to support fully into their later years people who have retired at 60. The study says that even having ... retirement age, while drawing their MPF benefit at 65, the lighter the burden on the taxpayer. Hong Kong has no law on age discrimination, though the government has guidelines for employers ...

  8. Planning to retire on $2 million in savings? Welcome to hard times

    Posted Aug 08th 2005, 12:00am by Jake Van Der Kamp

    ... to help us in retirement, 10 per cent of wages, and the total net asset value of the MPF has now risen to $131 billion, a very big figure. Yes, but there are 3.35 million employees in Hong Kong. Divide that very big figure among them and all you get is $38,941 per person. Now let us advance these calculations a bit further with rough calculations. The MPF has not been a particularly good ...

  9. The case for sensible compassion

    Posted Jul 03rd 2006, 12:00am by James Tien

    ... MPF contributions to fund it. Caring for our elderly is an investment in our own future and our own old age, proponents of the scheme will argue. However, the reality is that working people will see half their MPF contributions go into a blanket pension scheme that may well buckle under its own pressure- and be incapable of supporting them when they are old. Hong Kong's ...

  10. Policy paper calls for people to retire later

    Posted May 26th 2006, 12:00am by Quinton Chan

    ... can only enjoy benefits, such as MPF, the old-age allowance and transport fare discounts, when they are 65. The official said the study would examine whether a statutory retirement age ...




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