Concern groups appeal to lawmakers to scrap the MPF offsetting mechanism, outside the Hong Kong government headquarters in Admiralty, in June 2017. Most business groups in the city are against the government’s plan to stop the mechanism of employers dipping into pension funds to cover severance and long-service payments. Photo: Jonathan Wong
Will Hong Kong bosses take an MPF cue from British pensions chief?
- Amber Rudd, the British pensions secretary, wants employers who are reckless with staff pension schemes to face long jail terms or unlimited fines
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Mandatory Provident Fund (MPF)
Concern groups appeal to lawmakers to scrap the MPF offsetting mechanism, outside the Hong Kong government headquarters in Admiralty, in June 2017. Most business groups in the city are against the government’s plan to stop the mechanism of employers dipping into pension funds to cover severance and long-service payments. Photo: Jonathan Wong