It's time we had the full say over managers running our MPF

Some lawmakers say Hong Kong's 3.6 million employees are inadequately equipped to choose the agent for their mandatory pension - though they will be allowed to do so in less than a year from now. This is despite HK$30 million the government has spent this year to enhance investment knowledge. SCMP, June 10

I received several wads of paperwork from my own MPF manager the other day. There was a compact disc and an interactive voice response system user guide plus a whole lot of forms for me to fill in, accompanied by warnings in small print about the consequences of doing it wrong.

As an example, from a paper headed Retirement Master Trust Preserved Account Membership Enrolment Form - 'I confirm that the manager and trustee are authorised to act upon instructions by facsimile in respect of my units without liability in respect of any transfer, payment or any other act done in accordance with such instructions and notwithstanding that it shall be shown the same was not signed or sent by me. I agree to indemnify and hold harmless the manager and the trustee against any loss, cost or expense ...'

But you have run across this sort of thing before. First you make a visit to your optometrist for a stronger set of glasses so that you can actually read it and then you find out that it all says the same thing - 'Whatever happens, and we mean anything, it's all your fault and none of ours and we'll make you pay up. Now sign'.

It went straight to the bin along with the PIN number. No, I lie. The PIN number didn't go straight to the bin. I tore it up in small pieces first.

Don't send me unsolicited demands to sign and PIN things, folks. I don't sign these and I'm already drowning in PIN numbers. I either lose them or forget them.

If this has me down with some government officials as one of those people who are inadequately equipped to choose an investment agent, so be it. There are plenty of people like me. Over the MPF's nine-year history, only 20,000 people out of a total workforce of 3.6 million have attended government seminars on investment.