Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse
Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse

Hong Kong government proposal for residents to convert pensions into annuities ‘absurd’ if made mandatory, labour minister says

  • Secretary for Labour and Welfare Law Chi-kwong says forcing Hongkongers to make switch from MPF pension plans to annuities would deprive them of a choice
  • Labour lawmaker Michael Luk suggests looking at ways to encourage wider uptake of annuities, such as by matching residents’ contributions

Topic |   Mandatory Provident Fund (MPF)
Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse
Leaflets on the Mandatory Provident Fund scheme, which requires both employers and employees to make monthly contributions as part of their salary structure. Photo: May Tse
READ FULL ARTICLE