Month: November 2021

Nov 23 2021

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Hong Kong pension scheme going digital will save members US$5 billion in fees over 10 years

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The switch to a digital platform for Hong Kong’s compulsory retirement scheme will save the 4.5 million members as much as HK$40 billion (US$5.14 billion) over 10 years, according to...

Nov 22 2021

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MPF amendment bill passed

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Secretary for Financial Services & the Treasury Christopher Hui welcomed the passage of the Mandatory Provident Fund (MPF) Schemes (Amendment) Bill 2021 by the Legislative Council today. The amended …

Nov 22 2021

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US pension fund commits $70m to Baring PE Asia’s eighth buyout fund

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US pension fund Maryland SRPS has committed $70 million to Hong Kong-based Baring Private Equity Asia’s eighth buyout fund.

Nov 22 2021

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Former senior police officer faces up to 7 years in jail after defrauding HSBC and government over Hong Kong flat purchase

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A former senior Hong Kong police officer who fraudulently obtained HK$6 million (US$770,400) in housing and mortgage loans for a luxury property faces up to seven years in jail after...

Nov 22 2021

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Govt set to build caring society

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Bright outlook for pension sector For the next few minutes, allow me to talk about the pension sector within the larger context of Hong Kong and the outsized opportunities there...

Nov 20 2021

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One in five women in Hong Kong living in poverty, says new government report

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The number of women living in poverty in Hong Kong hit a 12-year high in 2020, with more than one in five females considered poor, the latest government poverty report...

Nov 20 2021

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‘Too Risky’: $2.4 Trillion Pension Sector Remains Wary of Crypto

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Cryptocurrencies are getting a cool reception in Australia’s A$3.3 trillion ($2.4 trillion) pension fund industry, underlining the challenge digital assets face to win significant investment from …

Nov 17 2021

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Explainer: One-fifth of Hongkongers live in poverty. Here’s what you need to know

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The government released its annual Poverty Situation Report for 2020, which revealed that around 1.65 million people are struggling – the highest number in 12 years.

Nov 17 2021

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Eligible HK people encouraged to join mainland social security system

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Chinese mainland officials invited more eligible Hong Kong residents to join the mainland’s social security system and enjoy more safeguards in a seminar on relevant policies organized in Hong Kong...

Nov 17 2021

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Nuclear Finance Revamp Will Attract U.K. Pension Funds, EDF Says

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The U.K.’s proposed overhaul of the financing mechanism for nuclear power plants will attract more local investors, making the government less dependent on Chinese money for infrastructure projects, …