The Government today (December 22) published a consultation paper to solicit public views on retirement protection. The Business and Professionals Alliance for Hong Kong (BPA) stands in solidarity with Hong Kong’s business and industrial sectors, as well as small and medium enterprises (SMEs), in objecting strenuously to the abolition of Mandatory Provident Fund’s (MPF) offset mechanism.
The BPA, in conjunction with 14 chambers, held a Symposium on MPF Offset Mechanism today (December 10). The symposium attracted more than 300 business and academia representatives who were invited to share their thoughts on the socio-economic impacts to Hong Kong should the Mandatory Provident Fund (MPF) offsetting mechanism be abolished.
Media reports have been abuzz with speculation that Chief Executive Leung Chun-ying is planning to announce in his upcoming Policy Address the abolition of the offsetting mechanism under the Mandatory Provident Fund (MPF). Under this mechanism, employers can use their portion of MPF contributions to offset severance or long-service payments due to departing workers.
In response to government’s proposals on MPF reforms, the Commission on Poverty will be seeking public views on eliminating the provision on MPF offset as part of a public consultation exercise on universal retirement pension to be conducted at the end of 2015. The Business and Professionals Alliance for Hong Kong (BPA) strongly opposes the … Read more
According to certain sources quoted in the media, Chief Executive Leung Chun-ying plans to include in his next policy address the recommendation to scrap the offset mechanism under the Mandatory Provident Fund (MPF). Although such reports have not been verified by government……
