Smart Money

Some helpful investing resources:

Monday, 11 July, 2011, 12:00am

Fuelling the debate on retirement age

In a workaholic society like Hong Kong, a lifetime of toil lies ahead for most employees. While some fortunate workers may be able to save enough to opt for early retirement - perhaps as early as in their 40s - the majority have to work until mandatory retirement, generally at the age of 60 or 65.

30 May 2011 - 12:00am

Dreams of early retirement begin to fade

Everyone is still entitled to dreams of early retirement, but the wake-up call of the recession has forced many to recognise the widening distance between dreams and reality.

24 Oct 2009 - 12:00am

Bankrupt ex-teacher's pension is fair game for creditors, judge rules

If you declare bankruptcy, do not assume pension savings are safe from the reach of creditors.

That was the cautionary message from a Court of First Instance judge yesterday, who ruled that a retired teacher cannot keep the HK$2.5 million he amassed in a mandatory retirement fund during almost three decades at a subsidised school.

24 Jul 2008 - 12:00am

Firms must rise to challenge

Rising payroll costs and limited staff mean that companies in the mainland will have to adopt a more comprehensive approach to their human resources policies, which must take into account not just remuneration but also other employee needs.

21 Feb 2008 - 12:00am

Saving for the future

You have just received your first paycheque. Yippee! But when you look at your bank statement online, the amount you earned is slightly lower than the one your boss told you. What's going on?

The difference is due to your MPF contribution.

But, you are still young, why should you save for retirement so early?

21 Jan 2008 - 12:00am

Firms set stage for employees to get a life after retirement

What do we do with our retirees is a question that is being taken seriously by companies in Hong Kong. Nowadays, firms are putting in extra resources to address the issue as it is part of the ever-growing corporate social responsibility programme.

25 Oct 2007 - 12:00am

Wealth generation


Have enough in your account to cover six to 12 months' basic expenses

25 Sep 2007 - 12:00am

Pension boss wants to give employees choice

The pensions regulator is considering seeking a law change to allow 2 million employees to choose the trustees of their funds, increasing the choice for workers and forcing providers to cut fees.

16 May 2007 - 12:00am

Christmas surprise reveals the folly of Tang's arguments for GST

'The cash-based accounts serve mainly to demonstrate that public money has been paid within the limits and ambits approved by the legislature. The accrual-based accounts, on the other hand, aim to present the financial position and performance of the Government.'

Government spokesman,

December 27, 2006

3 Jan 2007 - 12:00am

Hardly the retirement plan of choice

Much has been said about government collusion with business in Hong Kong and unfortunately, some of that criticism is legitimate. One of the biggest examples was the government giving in to heavy lobbying by the finance industry, implementing the ill-fated Mandatory Provident Fund (MPF).

17 Aug 2005 - 12:00am

The true cost of China labour

ONE OF THE major reasons for China's sustained economic boom has been the ready supply of low-cost labour.

However, times are changing, with average urban salaries in China rising faster than anywhere in Asia and employers restructuring packages to reduce staff turnover.

An early sign of this trend was in salaries for middle- to senior-level executives.

26 Jan 2005 - 12:00am

Civil service will be cut to 160,000 over four years

The chief executive announced a 10 per cent reduction in civil service staffing to 160,000 over the next four years.

Cutting the size of the bureaucracy emerged as one of the key measures the government is to adopt as it seeks to tackle the ballooning budget deficit.

9 Jan 2003 - 12:00am

Finance chief moves to ease civil servants' fears

Financial Secretary Antony Leung Kam-chung yesterday moved to ease fears among civil servants that more cuts in benefits were in the pipeline.

Speaking for the first time after the passage of the pay-cut bill, he emphasised the most important task now was to make the best use of existing resources by improving government operations.

13 Jul 2002 - 12:00am

Cutting civil service pay sets bad precedent and will damage morale

While the Government is considering implementing cuts in civil service pay it may wish to consider that, 10 years ago, it tried the same thing for one group within the police force, its researchers. The officers concerned took legal action and won. The court restored their pay scales and ordered the repayment of lost wages with interest. This would appear to be a sound legal precedent.

4 Jun 2002 - 12:00am