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  • August 23, 2014
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  1. Small step for MPF

    Posted Feb 07th 2012, 12:00am

    ... Hongkongers who have for years asked for greater tax deductions for Mandatory Provident Fund (MPF) contributions found some relief in the budget presented by Financial Secretary John Tsang Chun-wah. Tsang increased maximum tax deductions for those paying into the MPF from HK$12,000 to HK$15,000. A number of organisations and MPF experts have said it was a small step in the right ...

  2. Minimum wage may guide MPF changes

    Posted May 12th 2010, 12:00am by Dennis Eng, Gary Cheung

    ... Provident Fund advisory committee said. After its first 10 years, adjustments to the MPF scheme- the financial safety net for millions of workers- are being considered. Changes under consideration include raising the HK$5,000 minimum and HK$20,000 maximum monthly salary cap for contributions. Stanley Lau Chin-ho, deputy chairman of the Federation of Hong Kong Industries and an MPF Schemes ...

  3. MPF handouts to be recovered

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

    ... Eva Wu The Mandatory Provident Fund Schemes Authority will begin to recover payments mistakenly made to 2,300 MPF accounts by the end of this month. People whose pension accounts were ... into 2,300 MPF accounts. A one-off giveaway of HK$9 billion was aimed at 1.4 million workers whose monthly income was less than HK$10,000. The mistaken payments were made into the accounts of people ...

  4. MPF losses at record 12.2pc, with individuals taking HK$12,636 hit

    Posted Nov 11th 2008, 12:00am by Staff Reporter

    ... equivalent to about six months of maximum contributions. The compulsory portion of the MPF by employees is capped at HK$2,000 a month. According to Lipper, Asia-Pacific equity funds had the biggest ... since 1974. The worst three performers were ING's MPF Master Trust Basic Hong Kong Equity (down 32.54 per cent), ING's MPF Master Trust Comprehensive Hong Kong Equity (32.44 per cent) ...

  5. HK spending reaches record levels

    Posted Jul 26th 2011, 12:00am

    ... for promoting credit and charge cards, at HK$349.14 million, as well as personal loans and financing, HK$326.03 million. Ma, however, pointed out that marketing for Mandatory Provident Fund (MPF) schemes had the most significant growth, at 500 per cent year-on-year to HK$20.51 million in the first half. The MPF, which covers about 2.5 million Hong Kong workers, is a compulsory retirement ...

  6. In Brief

    Posted Nov 29th 2007, 12:00am by Staff Reporter

    ... MPF default complaints top HK$220m over three years The Mandatory Provident Fund Authority received complaints of employers defaulting on more than HK$220 million in MPF contributions in the past three years, Secretary for Financial Services and the Treasury Chan Ka-keung told legislators. The authority could not recover any arrears in 15 per cent of cases in 2004/05, 9 per cent ...

  7. In Brief

    Posted Feb 08th 2011, 12:00am by Staff Reporter

    ... that when conflict arose, they would punish their children by beating them. Three fined for making false MPF statements Three people were convicted and fined a total of HK$24,000 at Kwun Tong Court ... Meanwhile, four employers were fined a total of HK$67,500 at the same court after being convicted of failing to make MPF contributions. Polish man goes missing at wharf Police are appealing ...

  8. The new budget giveaways

    Posted Mar 03rd 2011, 12:00am by Staff Reporter

    ... [HK$6,000 MPF injection] was too uncertain. I am not sure what I could buy when I retire at 60... Now everybody is happy about the payout as it covers more people.' Griffith Jones, 54, ...

  9. The new budget givveaways

    Posted Mar 03rd 2011, 12:00am by Staff Reporter

    ... [HK$6,000 MPF injection] was too uncertain. I am not sure what I could buy when I retire at 60... Now everybody is happy about the payout as it covers more people.' Griffith Jones, 54, ...

  10. In Brief

    Posted Feb 24th 2009, 12:00am by Staff Reporter

    ... cent. A government spokesman said inflation was expected to subside along with the economy. MPF handouts soon Mandatory Provident Fund account holders with a monthly salary of less than ...




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