The electronic platform of the Mandatory Provident Fund (eMPF) is expected to reach its fee cut target five years ahead of schedule and could save the scheme’s 4.75 million members HK$50 billion (US$6.4 billion) in less than 10 years, according to the chairwoman of the pension regulator. The Mandatory Provident Fund Schemes Authority (MPFA) revised…
This article was originally published on December 2, 2000 By Felix Chan Warning for MPF-dodging bosses Employers were warned on Friday (December 1, 2000), the day the Mandatory Provident Fund (MPF) was launched, that they could not escape paying their fair share. Only about 135,000 employers, 54 per cent of those required to do so,…
Hong Kong’s labour minister has dropped the biggest hint yet that authorities intend to scrap a proposal to raise the tax deduction amount for employers’ voluntary pension contributions to older workers, a plan for encouraging greater workforce participation. Secretary for Labour and Welfare Chris Sun Yuk-han said on Wednesday that a government working group on…