Market Views: Is it enough to scrap the MPF offset?
Four pension industry specialists weigh in on Hong Kong's decision to abolish the controversial Mandatory Provident Fund offset mechanism and introduce a two-tier subsidy.
On October 10, Hong Kong chief executive Carrie Lam announced that the Mandatory Provident Fund’s (MPF) controversial offsetting mechanism, under which employers can withdraw money from the contributions they had paid into employees' pension plans to offset the cost of long-service or severance payments, would finally come to an end. It will be removed by 2024 at the latest.
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