pensions.hk

Jun 10 2022

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Hong Kong passes long-awaited labour bill to scrap MPF offsetting mechanism, protecting workers’ pensions

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Move ends decade-long debate between bosses and unions, preventing employers from dipping into staff pensions to cover severance and long-service payments.

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?

by News Desk

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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...

May 31 2022

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AIA Hong Kong invites Hins Cheung to tell MPF highlights in campaign

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AIA Hong Kong has featured singer Hins Cheung in two latest campaigns, telling the highlights of its mandatory provident fund schemes and the details of a startup competition. The company...

May 27 2022

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Hong Kong group calls for tax changes to bolster financial services industry

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Among other things, it recommends changes to tax laws to encourage pension funds to set up offices in Hong Kong for their in-house fund management arms, including better defining …