Hong Kong sets pension plan
Article Abstract:
Hong Kong legislators are recently engrossed in devising alternative means of implementing the newly introduced compulsory retirement-savings program, as employers and pension fund providers struggle to adapt with drastic structural changes. One of the biggest problems faced by Mandatory Provident Fund agents is educating workers and employers with the rules and federal requirements of the program. The program, set to take effect on April 1, 1998, would cover domestic helpers, hawkers and temporarily employed laborers.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Fund plan races to deadline
Article Abstract:
Hong Kong's Mandatory Provident Fund (MPF) compulsory retirement-savings plan is not likely to become operational until 2000, a year after its planned 1999 debut, say pension fund consultants and fund companies. The MPF, which is expected to garner $1.55 billion in new funds in its first year of operation, is planned to serve Hong Kong's three million employees. Fund managers expect the MPF's debut to be delayed because of difficulties associated with the establishment of administrative systems for the new plan.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Pension funds' golden years: Asia's graying population promises profit
Article Abstract:
New statistics that claims Asia's graying population would double, in some cases triple, have given pension-fund providers a reason to expect profit. Addressing the increase represents a fast-growing financial strain since few countries in Asia have existing pension-fund systems to raise funds for the aged. Pension-fund assets in Hong Kong could increase to over $50 mil by year 2002 from the present $18 mil, according to Banque Paribas.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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