First working day of First female Chief Executive

Since the first female Chief Executive Carrie Lam Cheng Yuet-ngor has token her office on July 1, her new administration has been showing a refreshingly new governance approach and common touch to the public eye. Unlike to previous July 1… Continue Reading →

Survey: HK’s people confident in HK’s financial outlook

Despite economic uncertainty, HK people are still looking to grow their wealth and save the retirement fund. BlackRock, a multinational investment management corporation in New York, released its latest Global Investor Pulse Survey in 2015. Over 31,000 people between the ages of… Continue Reading →

Manulife eyes on StanChart’s HK pension business

Standard Chartered Bank was reported selling non-core items in an attempt to narrow the margin gap with competitors. Canadian insurer Manulife Financial Corp (0945.HK) was nearing a deal on the HK$3.12 billion acquisition of the Hong Kong pension business (Mandatory Provident Fund (MPF))… Continue Reading →

Hongkongers prefer high-return investment for retirement fund

MPF, compulsory employees’ pension scheme, is disillusionment, survey said. Friends Provident International, a global insurer, released a survey to indicate that affluent Hong Kong residents are more daring when investing for their retirement than Singapore peers, an well-off Hong Konger needs an average of… Continue Reading →

HK MPF return dropped 2.62% in June

Although MPF recorded 3.8% growth of return in the first half year, it recorded losses for 2nd straight month since May. The Mandatory Provident Fund Scheme (MPF Scheme) is a compulsory pension scheme for the retirement of employees in HK. MPF funds… Continue Reading →

HK employees retirement funds recorded growth of 5.28 pc in April

Meanwhile liquidity influx bullish the HK stocks market, Hang Seng Index gained 13% The only retirement protection on Hong Kong employees is The Mandatory Provident Fund Scheme (MPF Scheme), which is a compulsory pension scheme for the retirement of employees in Hong… Continue Reading →

Retirement far away for most of Hong Kong workforce

Compulsory retirement fund is never be adequate for retirement living. Hurt by inflation rate, employees’ retirement expenditure rise to at least HK$12,000 monthly. Hongkongers have inadequate retirement reserves and poor financial habits, a survey has found. The survey, conducted by… Continue Reading →

MPF overhaul goes to the core fund

Mandatory Provident Fund (MPF) Schemes is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. In the early 1990s, there were some calls to establish a central provident fund to cope with the large number… Continue Reading →

New online platform to speeds MPF transfer

In 2012, the Consumer Council studied all the MPF funds and found almost half of them posted losses in each of the past five years. Major criticism among public to the system includes the following: Significantly high management fee of… Continue Reading →

Mandatory Provident Fund (MPF) savings take a beating as stocks dive

The MPF System was set up as the second pillar of retirement protection under the World Bank’s three-pillar retirement protection approach. Hong Kong has a Comprehensive Social Security Assistance Scheme as its first pillar of retirement protection and the third… Continue Reading →

Retirement funds (MPF) outshine HSI but challenges ahead

The Mandatory Provident Fund often abbreviated as MPF, is a compulsory saving scheme (pension fund) for the retirement of residents in Hong Kong. Most of employees and their employers are required to contribute monthly to mandatory provident fund schemes provided… Continue Reading →

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