Hong Kong's MPF has not encouraged additional savings

clock

HONG KONG - The Mandatory Provident Fund has failed in its task to encourage additional savings, but pending legislation to encourage members to move their assets into other savings vehicles will do just that, said RCM.

RCM chief executive officer of Asia Pacific Mark Konyn said: "(It) was never the fund's intention to be the only source of funding upon retirement. It was supposed to encourage saving towards retir...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Hong Kong

Pressure to lower fees charged to Hong Kong's mandatory pensions

HONG KONG - The government has put pressure on investment managers to lower the fees they charge to run money for the massive Mandatory Provident Fund.

clock 28 September 2011 •

HK$24bn pension payment misses savings opportunity - Mercer

HONG KONG - Government plans to provide an extra HK$24bn ($3.1bn) for Mandatory Provident Fund (MPF) members may miss an important opportunity to stimulate retirement savings, Mercer believes.

clock 24 February 2011 •

Hong Kong fund should cap fees and increase contributions - Mercer

HONG KONG - Hong Kong should limit fees for the city's mandatory pension fund and encourage workers and companies to increase contributions, Mercer says.

clock 15 October 2010 •
Trustpilot