Month: June 2022

Jun 09 2022

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British wealth manager SJP eyes China’s growing pension market, details retirement risk for Hong Kong’s ‘sandwiched generation’

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UK-based wealth-management company St James’s Place (SJP) is eyeing China’s pension market amid the nation’s development of a private-pension segment that is expected to draw US$17.8 billion a year …

Jun 09 2022

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What is the MPF offsetting mechanism and why are workers happy the Hong Kong government is set to finally scrap it?

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After decades of criticism, the government is finally axing the mechanism, which means more money going to employees, while bosses will initially be supported by subsidies.

Jun 09 2022

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Hong Kong lawmaker sings praises of scrapping MPF offsetting, as legislature prepares to vote

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Hong Kong’s legislature is set to vote on scrapping the controversial Mandatory Provident Fund (MPF) offsetting mechanism, which allows firms to pay severance from an employee’s pension fund, with a...

Jun 05 2022

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Time to raise Hong Kong’s minimum wage? Businesses cite pandemic-hit economy as reason for non-review, amid calls to raise hourly mark from HK$37.5 to HK$50

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Statistics show some 14,300 workers in city, mostly in property management, retail and catering industries, only received base hourly pay in May and June of 2021 Scholar urges raising of...

Jun 02 2022

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MPF investment measure endorsed

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It further strengthens Hong Kong’s status as a global offshore renminbi business hub, and supports the city’s integration into the country’s overall development, he added. The Mandatory Provident Fund …

Jun 02 2022

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LegCo Approves MPF Schemes Amendment Regulation; Members Allowed to Invest in CN Govt Bonds

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Regulation 2022 (Amendment Regulation) was approved by the Legislative Council today (June 1) to facilitate Mandatory Provident Fund (MPF) investment in debt securities issued or unconditionally …

Jun 02 2022

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Hong Kong’s BCT head Ka Shi Lau passes the baton and becomes adviser

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Hong Kong pension industry veteran Ka Shi Lau has handed over the management reins of BCT Group to two executives after 22 years as chief executive officer and managing director...