Category: Uncategorized

Aug 09 2023

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Hong Kong retirees facing income shortfall of US$641 a month on average, survey shows

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Retirees in Hong Kong face a shortfall of HK$5,000 (US$641) on average in their monthly incomes, according to a survey released on Tuesday.

Aug 01 2023

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Hong Kong’s MPF supervisor extolls scheme and “continual” fee reform

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Hong Kong’s Mandatory Provident Fund supervisor lauded the HK$1.11 trillion (US$142.3 billion) retirement scheme for excelling “in many ways” by international standards, noting also that fees have …

Aug 01 2023

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Total MPF assets stand at HK$1.11 trillion

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The total assets of Hong Kong’s Mandatory Provident Fund (MPF) reached HK$1.11 trillion at the end of the last financial year, the city’s pension …

Jul 31 2023

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Hong Kong dining group Castelo Concepts fails to make pension fund contributions to 140 employees, regulator says

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Castelo Concepts, the dining group that closed nine of its eateries across Hong Kong after creditors pressed its investors into liquidation, did not make Mandatory Provident Fund (MPF) contributions …

Jul 31 2023

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More Hong Kong workers make voluntary contributions to MPF as returns shrink by 21 per cent

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Mandatory Provident Fund assets drop from HK$1.12 trillion a year ago to HK$1.11 trillion in financial year ending on March 31 Fund authority reveals number of voluntary contribution accounts rose...

Jul 29 2023

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Dining group Castelo Concepts fails to make pension fund contributions to 140 employees, regulator says

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Castelo Concepts, the dining group that closed nine of its eateries across Hong Kong after creditors pressed its investors into liquidation, did not make Mandatory Provident Fund (MPF) contributions …

Jul 24 2023

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Hong Kong’s MPF net inflow hits three-year high in first half

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Hong Kong’s Mandatory Provident Fund saw a net inflow of HK$28.4 billion (US$3.64 billion) in the first half of 2023, the highest level in three years, on the back of...

Jul 17 2023

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Hong Kong to launch e-MPF platform in 2024 and make fully operational 1 year later, fund authority says

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Platform was proposed in 2017 by then leader Leung Chun-ying to cut costs and make fund management more transparent by streamlining scheme’s administration. ‘Not only will the efficiency of MPF...

Jul 07 2023

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Hong Kong’s MPF earns HK$32.2 billion for its 4.7 million members in first half, reverses last year’s heavy losses

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The MPF’s 413 investment funds earned a combined HK$32.2 billion (US$4.1 billion) in the first half of this year, or HK$6,900 for each member, according to data provided by MPF...

Jul 06 2023

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Hong Kong’s MPF earns HK$33.2 billion for its 4.7 million members in first half, reverses last year’s heavy losses

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The MPF’s 413 investment funds earned a combined HK$33.2 billion (US$4.2 billion) in the first half of this year, or HK$7,100 for each member, according to data provided by MPF...