Proposed 33% rise in MPF payments ‘may deepen business pressures, hit jobs’

Proposals by Hong Kong’s pension regulator to increase Mandatory Provident Fund (MPF) contributions for higher-paid workers by up to 33 per cent could worsen business challenges and hurt the jobs market, a lawmaker and human resources expert have warned. A labour representative, however, urged the Mandatory Provident Fund Schemes Authority (MPFA) to pursue even bolder increases to meet statutory requirements and reflect rising salaries. The MPFA had announced that it was reviewing the maximum...

By Leopold Chen