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.Monday, 21 January, 2008, 12:00am
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
Have enough in your account to cover six to 12 months' basic expenses25 Sep 2007 - 12:00am
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
'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.'
December 27, 20063 Jan 2007 - 12:00am
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
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
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
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
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