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  1. Business - Money - PENSIONS

    Market sell-down leaves MPF funds in the red

    Posted Jun 05th 2013, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Pension scheme slips 0.87 per cent in May as stocks in Japan and emerging economies drop Market sell-down leaves MPF funds in the red The Mandatory Provident ... reported an average month-on-month loss of 0.87 per cent after a gain of 1.9 per cent in April, according to data provider Lipper. For the first five months of the year, the MPF recorded an average ...

    http://www.scmp.com/business/money/markets-investing/article/1253640/market-sell-down-leaves-mpf-funds-red
  2. Employees require investment incentives

    Posted Mar 30th 2011, 12:00am by Chris Davis

    ... Chris Davis Viewed by the government as an important cornerstone of Hong Kong's retirement planning processes, the Mandatory Provident Fund (MPF), which has about HK$350 billion under management, is still regarded with indifference by many employees who make their monthly contributions. Last year's Towers Watson MPF Survey revealed that while most employees believe present ...

    http://www.scmp.com/article/742450/employees-require-investment-incentives
  3. Business - Money - PENSIONS

    MPF back in profit as markets rally

    Posted May 04th 2013, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com April sees retirement fund bounce back to black after losses over previous 2 months MPF back in profit as markets rally The Mandatory Provident Fund, covering ... fund, the only type of fund to record a loss, of 1.95 per cent. It was also the worst performer over the first four months, losing 4.31 per cent. The second-worst performers were the nine MPF ...

    http://www.scmp.com/business/money/markets-investing/article/1229630/mpf-back-profit-markets-rally
  4. Comment - Insight & Opinion

    Above all, retirement scheme for Hong Kong must be fair and affordable

    Posted Sep 09th 2014, 02:15pm by DAVID LUI

    ... Retirement Schemes Ordinance cover only those in employment, not those without jobs or in temporary work. The MPF scheme was implemented in December 2000 and the average amount collected by retiring members is about HK$250,000. Yet hundreds of thousands of low-income earners have received much less; some have been further hit because employers can offset any severance pay with accrued MPF ...

    http://www.scmp.com/comment/article/1588545/above-all-retirement-scheme-hong-kong-must-be-fair-and-affordable
  5. News - Hong Kong - POLICY ADDRESS

    Lam convinced Leung to shelve plan to scrap MPF 'offsetting' mechanism: source

    Posted Jan 23rd 2014, 03:23am by Tanna Chong, Jeffie Lam and Gary Cheung

    ... offset severance and long-service payments to employees against their contributions to an employee's MPF. Labour minister Matthew Cheung Kin-chung said last week that the offsetting mechanism was included in a deal with employers, agreed to by employee representatives, to secure business leaders' agreement to establishing the MPF in 2003. Treasury minister Professor Chan ...

    http://www.scmp.com/news/hong-kong/article/1411402/lam-convinced-leung-shelve-plan-scrap-mpf-offsetting-mechanism-source
  6. Business - Money - INVESTMENT

    MPF drops for a second month, erases January gains

    Posted Apr 03rd 2013, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Retirement scheme's funds fail to build on last year's performance, with recent declines reflecting nervousness over global economy MPF loses money ... a good chunk of the 2.61 per cent gains in January. With the March performance, the first-quarter MPF returns stand at a modest 1.74 per cent. It follows strong gains averaging 12.07 per cent ...

    http://www.scmp.com/business/money/markets-investing/article/1205800/mpf-loses-money-second-month
  7. News - Hong Kong - POLICY ADDRESS

    No plans to scrap MPF 'offsetting' mechanism, says Leung Chun-ying

    Posted Jan 17th 2014, 12:52pm by Tony Cheung and Jennifer Ngo

    ... Tony Cheung and Jennifer Ngo Chief Executive still weighing up action on employers' use of retirement fund for severance No plans to scrap controversial MPF 'offsetting' ... MPF, the city's compulsory retirement account. Speaking separately, labour minister Matthew Cheung Kin-chung said that when the MPF was established in 2003, a deal was made with employers ...

    http://www.scmp.com/news/hong-kong/article/1407582/no-plans-scrap-mpf-offsetting-mechanism-says-leung-chun-ying
  8. Comment - Letters

    Letters to the Editor, August 25, 2014

    Posted Aug 25th 2014, 02:46am by LETTERS

    ...   Using iBonds a safe option for MPF Authority The core fund initiative unveiled by the Mandatory Provident Fund Authority suggests a low-cost life cycle portfolio as a default arrangement in the MPF system, but it has two fatal problems. First, it fails to ensure product suitability for every employee. Second, there is no guarantee it will not suffer from losses at age 65. Since ...

    http://www.scmp.com/comment/letters/article/1580460/letters-editor-august-25-2014
  9. News - Hong Kong - RETIREMENT

    Bosses 'using workers' MPF accounts like piggy banks', say unionists

    Posted Jan 06th 2014, 04:02am by Ernest Kao

    ... bosses use MPF like a piggy bank Unionists say bosses are treating workers' compulsory retirement savings accounts like a "piggy bank" by dipping into them to fund severance ... is unfair and is ruining the image of and trust in the [MPF] system," said Federation of Trade Unions lawmaker Tang Ka-piu. "Our concern is that if [the administration] cannot suggest any ...

    http://www.scmp.com/news/hong-kong/article/1398515/bosses-using-workers-mpf-accounts-piggy-banks-say-unionists
  10. Business - Comment - WHITE COLLAR

    Time to stop bosses dipping their fingers into the MPF

    Posted Jan 29th 2013, 12:00am by Enoch Yiu

    ... Enoch Yiu enoch.yiu@scmp.com Unfair rules still allow companies to make redundancy payments from MPF contributions Time to stop bosses dipping fingers into MPF The government has finally ... the MPF, for the simple reason that the scheme from the beginning was designed in a way that gave the bosses more say than the workers. The MPF requires the employer and the employee to each ...

    http://www.scmp.com/business/article/1138260/time-stop-bosses-dipping-their-fingers-mpf

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