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  1. Business - Banking & Finance

    Employers fight move to abolish MPF offset provision

    Posted Mar 17th 2014, 02:27am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Employers fight move to abolish MPF offset Employers are lobbying forcefully against the call by some lawmakers to abolish the offset provision ... 2017 to abolish the offset to improve retirement protection for workers. "The MPF is meant for retirement protection of the 2.4 million employees covered by the scheme. The offset system ...

    http://www.scmp.com/business/banking-finance/article/1450240/employers-fight-move-abolish-mpf-offset-provision
  2. Business - Economy - PENSIONS

    Lobbyists work to change pension rule that has cost workers HK$20b

    Posted Mar 19th 2014, 01:26am by Enoch Yiu

    ... to abolish the mechanism, which allows bosses to use their portion of contributions to the MPF to offset the severance or long-service payments due to an employee- up to a maximum of HK$390,000. Government statistics show that between July 2001 and June last year, employers used HK$20.7 billion from MPF contributions to offset severance and long-service payments. "If there is no offset ...

    http://www.scmp.com/business/economy/article/1452046/lobbyists-work-change-pension-rule-has-cost-workers-hk20b
  3. Business - Banking & Finance - PENSIONS

    Pension fund scheme heads for shake-up

    Posted Mar 17th 2014, 02:27am by Jasper Moiseiwitsch

    ... on costs MPF heads for shake-up For those frustrated by the high fees, limited choices and the paperwork of the government-mandated pension plan, relief may be in sight. The main regulator ... a major report on the pension scheme in 2012. "It achieves a political agenda in terms of a low-cost provision [of MPF services]," said Pogson. It's a tactical move... to embarrass ...

    http://www.scmp.com/business/banking-finance/article/1450239/pension-fund-scheme-heads-shake
  4. Business - Banking & Finance

    Options limited in cutting pension fund charges in Hong Kong

    Posted Mar 17th 2014, 02:27am by Benjamin Robertson

    ... in the report, including Britain and Singapore. While fee levels remain under scrutiny, industry representatives say there are limits to what can be done. "The MPF market in Hong Kong is still young ... In one example provided in a Consumer Council report on the MPF, an account accruing HK$2,000 monthly for 30 years, assuming a 5 per cent average gross investment return, would lose HK$220,000 ...

    http://www.scmp.com/business/banking-finance/article/1450238/options-limited-cutting-pension-fund-charges-hong-kong
  5. Business - Comment - JAKE'S VIEW

    MPF 'scandal' of overcharging deserves scrutiny by SFC

    Posted Feb 13th 2014, 01:24am by Jake Van Der Kamp

    ... Jake van der Kamp Overcharging by MPF managers is one of the biggest thefts committed in Hong Kong MPF 'scandal' deserves scrutiny by SFC A price war is looming among Mandatory ... a tiny slice of the MPF market and the waiver is valid for only the next three years. But it still provides an opportunity for putting matters into perspective. The average annual fee charged ...

    http://www.scmp.com/business/article/1426708/mpf-scandal-overcharging-deserves-scrutiny-sfc
  6. News - Hong Kong - RETIREMENT

    MPF no substitute for pensions, says consultant Nelson Chow

    Posted Feb 24th 2014, 04:45am by Olga Wong

    ... Olga Wong olga.wong@scmp.com MPF no substitute for pensions, says consultant Hong Kong's mandatory retirement contribution scheme is no substitute for pensions, says a former advocate of the Mandatory Provident Fund. Nelson Chow Wing-sun, chair professor at the University of Hong Kong's Department of Social Work and Social Administration, helped the government formulate the fund ...

    http://www.scmp.com/news/hong-kong/article/1433788/mpf-no-substitute-pensions-says-consultant-nelson-chow
  7. Business - Companies - FINANCE

    'Zero fees' pledge to spark MPF price war

    Posted Feb 10th 2014, 11:42pm by Enoch Yiu

    ... pledge to spark MPF price war A price war is looming among Mandatory Provident Fund providers after Haitong International became the first fund house to waive investment management fees. ... fees for Haitong's 10 MPF investment funds will range from 0.37 per cent to 0.58 per cent for the next three years, down from 0.9 per cent to 1.68 per cent. The market average is 1.71 per ...

    http://www.scmp.com/business/companies/article/1425652/zero-fees-pledge-spark-mpf-price-war
  8. Comment - Insight & Opinion - LEADER

    Haitong's lower fees a small step in right direction for retirement fund

    Posted Feb 12th 2014, 03:25am by SCMP Editorial

    ... SCMP Editorial Small step in right direction for MPF Among the many flaws of the Mandatory Provident Fund that critics have pointed out, the one that is the most detrimental to retirement ... Despite repeat complaints from the government, the MPF Schemes Authority and labour groups over many years, most fund fees have stayed unjustifiably high, both in absolute terms and when compared ...

    http://www.scmp.com/comment/insight-opinion/article/1426271/haitongs-lower-fees-small-step-right-direction-retirement
  9. Business - Money - EQUITIES

    MPF loses money in January with forecasts for tough year ahead

    Posted Feb 06th 2014, 04:24am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Average of 2.43pc lost by pension fund as US tapering causes capital outflows, hitting stocks MPF posts losses in January with tough year ahead The city's ... the city's 2.4 million employees, still managed to beat the Hang Seng Index, which fell 5.45 per cent during the month. The 456 investment funds under the MPF had returned 8.09 per cent last year. ...

    http://www.scmp.com/business/money/markets-investing/article/1421698/mpf-loses-money-january-forecasts-tough-year-ahead
  10. Business - Comment - JAKE'S VIEW

    MPF's real swindle is way it is stacked against workers

    Posted Jan 21st 2014, 12:33am by Jake Van Der Kamp

    ... Jake van der Kamp Employer-based system, even with fund switch concession, ensures low returns and high fees MPF's real swindle is way it is stacked against workers Speculation ... their retirement savings. Let us lay out the groundwork here as the real scandal is not what it at first seems. The offsetting mechanism in the MPF allows employers to deduct severance payments they may ...

    http://www.scmp.com/business/article/1409917/mpfs-real-swindle-way-it-stacked-against-workers

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