MPF Schemes Authority data shows that, where offsetting claims were paid, 51 per cent of the employees’ total account balance was on average withdrawn for the purpose. Photo: Dickson Lee
MPF Schemes Authority data shows that, where offsetting claims were paid, 51 per cent of the employees’ total account balance was on average withdrawn for the purpose. Photo: Dickson Lee

Better retirement protection in Hong Kong begins with the end of MPF offsetting

Alex Malley says the mechanism is incompatible with the MPF’s primary role as a retirement protection vehicle, and calls for new contributions to be made exempt

MPF Schemes Authority data shows that, where offsetting claims were paid, 51 per cent of the employees’ total account balance was on average withdrawn for the purpose. Photo: Dickson Lee
MPF Schemes Authority data shows that, where offsetting claims were paid, 51 per cent of the employees’ total account balance was on average withdrawn for the purpose. Photo: Dickson Lee
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