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Hong Kong Policy Address 2017

In the Hong Kong 2017 Policy Address, HK Chief Executive CY Leung, who earlier on said he would not join the next Chief Executive election run, said that the offset mechanism under Hong Kong 'Pension Fund' MPF scheme will be “progressively abolished” while continued to pledge increase land and housing supply albeit without specifying all details of the plan.

The offset has long been the subject of debate between trade unions and employee rights groups in the SAR. In Hong Kong, employees are required to use the this MPF fund, to invest in selective equity or fixed income funds via selection of MPF management scheme.

The bill is reported to be submitted to Legco in June for discussion and approval. If passed, it will be implemented by the next elected government.

- APMR News

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