The MPF offsetting mechanism, allowing bosses to use pension savings for long-service and severance pay, infuriates workers and unions. Photo: AFP

Hong Kong bosses refuse to budge on proposal to halve staff payouts if employers leave pension pots alone

One business leader says HK$200,000 is better than HK$390,000 for long-service and severance payments, ‘but we would like to see it as low as possible’

Topic |   Mandatory Provident Fund (MPF)
The MPF offsetting mechanism, allowing bosses to use pension savings for long-service and severance pay, infuriates workers and unions. Photo: AFP
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