The Mandatory Provident Fund (MPF) office is set to introduce the rules for the MPF to the Legislative Council in April, if the office is not forced to close down beforehand due to lack of funding.
Office director Pamela Tan yesterday said the office had enough money to run until only the end of next month. The office will need a further $25 million to operate for the 13 months after March.
'The fund will be used for the staff, the computer set-up, the education campaign and the preparatory work of the Mandatory Provident Fund Office,' Mrs Tan said.
She said the funding application would go to the establishment sub-committee of the Finance Committee next Wednesday. If the application is not approved, the office cannot continue to operate. Some Legco members such as Democratic party members already have said they are opposed to the MPF and may not approve the funding.
Mrs Tan said she had lobbied Legco members and hoped they would approve funding for the benefit of the public.
'If the office cannot continue to operate, the MPF scheme will not be able to be introduced to Hong Kong and the most affected people will be the three million working people not covered by any pension scheme,' she said.
