Category: Korea

Jun 06 2024

Hong Kong, Korea, Mainland, Stocks

Many Hongkongers must work past retirement age as they face US$300,000 shortfalls in their average pension savings: Schroders survey

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The average Hongkonger faces a HK$2.4 million (US$300,000) gap between their expected post-retirement expenses and the money available in their pension funds, according to a survey released on Tuesday …

Jun 05 2024

Hong Kong, Korea, Mainland, Stocks

Hongkongers face US$300,000 shortfall in their pension savings as they look to work beyond retirement age, Schroders survey

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Morgan said Hong Kong people should start their retirement planning as early … Lau urged the MPF members to take a diverse approach and a long-term view. The city’s compulsory...

Jun 01 2024

Hong Kong, Korea, Mainland, Stocks

Can the over 65s survive on MPF savings?

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Phasing-out retirement is a practical option, said Chan, citing the German model whereby employers can reduce the intensity placed on employees aged 65-plus to enable them to continue working until...

May 29 2024

Hong Kong, Korea, Mainland, Stocks

Business-First Hong Kong Now Comes With a Catch: Beijing Politics

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The city, promised some autonomy by China, is trying to move on from a security law imposed by Beijing. Companies are learning that’s not always possible.

May 29 2024

Hong Kong, Korea, Mainland, Stocks

MUFG Pension & Market Services Inaugurates Hong Kong Office, Sets the Stage for Expansion into the Region’s Pension Market

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Rebel Jones, General Manager, Client Partnerships Asia, MUFG Retirement Solutions; Shannon Powell, Senior Trade and Investment Commissioner Hong Kong and Macau, The Australian Trade and Investment …

May 27 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong’s MPF assets up, members shift into bond funds

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Wan believes withdrawals from equity funds will slow with Hong Kong’s stock market rebounding strongly this month. He advised MPF members to take a long-term perspective instead …

May 25 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong MPF: investors who switched to US stocks miss out on rally as fund rakes in HK$14,000 per member in best performance since 2017

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Hong Kong’s mandatory retirement fund put in its best performance in seven years in the first five months of 2024, though members who shifted their cash from Hong Kong and...

May 25 2024

Hong Kong, Korea, Mainland, Stocks

Hong Kong and mainland China equities lead MPF gains

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Hong Kong’s compulsory pension scheme, is expected to see a 4.02% gain in May, adding an estimated HK$41 billion in investment earnings to its average account balances. The gains were...

May 24 2024

Hong Kong, Korea, Mainland, Stocks

Kam Kee owes HK$3.1m in MPF contributions: MPFA

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The Mandatory Provident Fund Schemes Authority (MPFA) on Thursday confirmed that Kam Kee Catering Group has failed to settle around HK$3.1 million …

May 24 2024

Hong Kong, Korea, Mainland, Stocks

Major Hong Kong restaurant chain sued over failure to pay HK$3.1 million in staff pension contributions on time

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Unpaid February and March pension contributions amounting to HK$3.1 million from Kam Kee Holdings affect almost 1,000 staff, MPF Schemes Authority says …