As the MPF scheme now provides basic retirement benefits for almost every employee in the private sector, we should consider whether the various schemes can be rationalised. Photo: EPA

Time to rationalise the patchwork retirement provisions for Hong Kong workers

Lawrence J. Lau says the contentious issue of whether we should ‘offset’ severance and long-service payments with an employee’s MPF can be resolved with a more sensible system of benefits

Topic |   Mandatory Provident Fund (MPF)

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As the MPF scheme now provides basic retirement benefits for almost every employee in the private sector, we should consider whether the various schemes can be rationalised. Photo: EPA
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Lawrence J. Lau

Lawrence J. Lau

Lawrence J. Lau is the Ralph and Claire Landau Professor of Economics at the Chinese University of Hong Kong, and the Kwoh-Ting Li Professor in Economic Development, emeritus, at Stanford University. He served as vice-chancellor and president of the Chinese University from 2004 to 2010, and chairman of CIC International (Hong Kong) from 2010 to 2014.