HONG KONG - Hong Kong should limit fees for the city's mandatory pension fund and encourage workers and companies to increase contributions, Mercer says.
More than two million workers pay an average 2% of their contributions as annual fees in the Mandatory Provident Fund, which holds more than HK$300bn ($39bn) of savings. This compares with 0.8% in countries...
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.
Kentucky Retirement System, Mercer, PensionsFirst, Towers Watson, Northern Trust, J.P. Morgan
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.
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.
HONG KONG - Hong Kong based asset manager Value Partners Group cut management compensation by 92%, its interim report for 2009 revealed.